Module Descriptors
FINANCE AND REVENUE MANAGEMENT IN THE LEISURE INDUSTRY
TOUR50303
Key Facts
Digital, Technology, Innovation and Business
Level 5
20 credits
Contact
Leader: Karl Mccormack
Email: K.McCormack@staffs.ac.uk
Hours of Study
Scheduled Learning and Teaching Activities: 48
Independent Study Hours: 152
Total Learning Hours: 200
Pattern of Delivery
- Occurrence A, Stoke Campus, UG Semester 1
- Occurrence B, Stoke Campus, UG Semester 2
Sites
- Stoke Campus
Assessment
- ONLINE CLASS TEST - 1 HOUR weighted at 20%
- UNSEEN WRITTEN EXAM - 2 HOURS weighted at 80%
Module Details
Indicative Content
You will learn cost accounting for decision and control: Throughout the module you will be introduced to accounting and finance terminology (both UK and international terms). Looking at Yield and revenue management, you will understand your role, the aim and the strategies of pricing.
You will gain and understanding of key financial statement, including The Statement of Profit or Loss and Other Comprehensive Income (Profit and Loss Account) and The Statement of Financial Position (Balance sheet).
Other areas covered include knowledge and appreciation of underlying accounting concepts, principles, rules and regulation.
Contemporary issues and developing areas in hospitality finance management will be weaved throughout.
You will gain and understanding of key financial statement, including The Statement of Profit or Loss and Other Comprehensive Income (Profit and Loss Account) and The Statement of Financial Position (Balance sheet).
Other areas covered include knowledge and appreciation of underlying accounting concepts, principles, rules and regulation.
Contemporary issues and developing areas in hospitality finance management will be weaved throughout.
Additional Assessment Details
Online Class Test: 1 hour (20%) (Learning Outcome 1). Students should demonstrate an understanding of key accounting theories and practice
An unseen written exam (80%) (Learning Outcome 2&3). Students should apply accounting concepts and interpret financial statements and also apply revenue/yield management methodologies with the ambition of maximising profit and effectiveness.
An unseen written exam (80%) (Learning Outcome 2&3). Students should apply accounting concepts and interpret financial statements and also apply revenue/yield management methodologies with the ambition of maximising profit and effectiveness.
Learning Strategies
152 hours of student-centred activities involving reading, self-assessed exercises, case study analysis, feedback and revision.
48 hours of contact time will engage students delivered as workshops/tutorials in which students will engage with a mix of large and small group activities.
The number of study hours for this module is 200 hours to meet the Professional Body accreditation requirements and to include your mandatory placement weeks as part of your course.
The module will draw upon a mixture of activities including web-based activities, case study analysis, relevant videos and in-class discussions. Individual and group problem solving and self-directed study are important elements of this module.
48 hours of contact time will engage students delivered as workshops/tutorials in which students will engage with a mix of large and small group activities.
The number of study hours for this module is 200 hours to meet the Professional Body accreditation requirements and to include your mandatory placement weeks as part of your course.
The module will draw upon a mixture of activities including web-based activities, case study analysis, relevant videos and in-class discussions. Individual and group problem solving and self-directed study are important elements of this module.
Learning Outcomes
Demonstrate understanding of key finance and accounting practice.
Analysis, Knowledge & Understanding
Apply accounting concepts and policies in the preparation, presentation and interpretation of true and fair financial statements.
Application, Knowledge & Understanding
Apply revenue management / yield management methodologies to maximise profitability and effectiveness.
Analysis, Application, Knowledge & Understanding
Resources
The University Library and Learning Resources
Books and academic journals
The module VLE
Electronic databases
Learning support materials
IT facilities
Presentation facilities
Books and academic journals
The module VLE
Electronic databases
Learning support materials
IT facilities
Presentation facilities
Texts
Recommended text:
Seal, W., Rohde, C., Garrison, R, and Noreen, E., (2015) Management Accounting. 5th ed. McGraw-Hill International (UK) Ltd.
Adams, D. (2022). Management Accounting for the Hospitality, Tourism and Leisure Industries: A strategic Approach. (3rd ed.) ISBN 9781911396710. Goodfellow Publishers: London.
Van Ginneken, R. (Ed.) (2019). Hospitality Finance and Accounting: Essential Theory and Practice. ISBN 978042950670-3 (ebook) 978113858350-4 (paperback). Routledge/Taylor Francis Group: London.
Seal, W., Rohde, C., Garrison, R, and Noreen, E., (2015) Management Accounting. 5th ed. McGraw-Hill International (UK) Ltd.
Adams, D. (2022). Management Accounting for the Hospitality, Tourism and Leisure Industries: A strategic Approach. (3rd ed.) ISBN 9781911396710. Goodfellow Publishers: London.
Van Ginneken, R. (Ed.) (2019). Hospitality Finance and Accounting: Essential Theory and Practice. ISBN 978042950670-3 (ebook) 978113858350-4 (paperback). Routledge/Taylor Francis Group: London.
Web Descriptor
You will learn cost accounting for decision and control: Throughout the module you will be introduced to accounting and finance terminology and appreciate your role in yield and revenue management including the aim and strategies of pricing.