Curricula

Objectives

Having taken the course you understand the role and meaning of financial accounting particularly in hospitality business. You know the processes of hospitality company from the accounting point of view and understand how bookkeeping and financial statements are drawn up on the basis of these processes. You can analyse the company’s financial performance and communicate it to different stakeholders.

Content

The course contents covers business skills, business processes (customers, products/services, purchases, sales), recording of business transactions, financial statements, the basics of value added taxation and company taxation, key ratios of hospitality business and communication of financial information and performance.

Time and location

Implementation of the course within the given dates and schedule. The course has guidance contacts that require physical presence.

Learning materials and recommended literature

Any entry level financial accounting book published no later than 2017. Material to be handed out during the course.

Teaching methods

A flipped classroom where the theoretical material and materials to be studied before the tutorial contact. With tutorial contact we do exercises and you have the possibility to get guidance. We offer face-to-face learning, learning assignments made independently and in pairs.
Courses encourage students to learn from each other. In this course, peer learning is offered through a discussion forum focusing on learning tasks, small group work during our sessions and pair work.

Practical training and working life connections

More exact information on the work placements linked to the course shall be provided by the teacher during the first contact lessons of the course.

Exam dates and retake possibilities

Exam to be scheduled during 10.5.2023. Resits are done in Exam-studio by 7th of June 2023.

Alternative completion methods

A corresponding course completed in another university may be accredited partially or completely. Competence acquired through informal learning may be recognized and accredited on the basis of competence test. More precise instructions can be found in Degree Regulations and in Study Guide

Student workload

Lectures and exercises 34 h, independent study 68 h and learning assignments 33 h
All assessed learning assignments are based on the content covered in the course material and tutorial sessions.

Content scheduling

The beginning of the course in theoretical contacts and independently performed learning tasks. During this time, the student completes a theory-based individual assignment (questionnaire) and after the theory part there is an exam. .

Further information for students

lThe assessment in the course is based on the competence demonstrated in the exam (60 %, 3 ECTS credits), in independent learning assignments (40 %, 1 ECTS credits) and in learning assignments made in pairs (1 ECTS credits).

The independent learning task focuses on the concepts of the subject area in a questionnaire with multiple-choice and false/true questions. You are free to use any material to solve your questions. The assignment can be completed in parts, the assignment can be interrupted and returned during the course. However, we recommend that you complete the task before the exam. You will know immediately after answering whether the answer is correct, but not the correct answer. You will receive a score and correct and incorrect answers as soon as you return all the answers to the questionnaire. Personal feedback (right / wrong) will therefore come when you return the answers for review. Corrective personal feedback, i.e. the correct answer after the response time has ended.

The exam emphasizes calculation and competence in recording business transactions. The exam is taken at the given exam time, without supporting material and it is time-limited (1h 45min). As a personal feedback, you will receive an exam result score by question and brief comments on any errors that have led to any point deductions.

The pair work emphasizes the application of theory. The task is evaluated pass/fail. The evaluation criteria for the approved performance are reviewed separately and in more detail at the beginning of the course.

All assessed parts must be completed with pass to complete the course.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Adequate 1
You can name the financial accounting processes of a micro-company and are able to take care of the most essential tasks of these processes for example basic level bookkeeping entries. You can apply the information with guidance and with more detailed instructions. You take responsibility for your own work. .

Satisfactory 2
You can present the processes of a micro-company from the perspective of financial accounting and you identify the impact of business transactions on financial statements on a general level. You are able to follow the schedule.

Evaluation criteria, good (3-4)

Good 3
You can outline the processes of a small company from the perspective of financial accounting and specify how the processes are based on practical doing. You take care of the essential tasks of these processes flawlessly. You know the impact of business transactions on financial statements as regards profitability, finance and solvency. You are able to follow the schedule.

Very good 4
You can evaluate the processes of a small company from the perspective of financial accounting and argue how bookkeeping and financial statements are drawn up from these processes. You can plan actions to improve profitability and know the basics of VAT and the elements affecting the finance and solvency of a company on a general level. You are able to follow the schedule.

Evaluation criteria, excellent (5)

Excellent 5
You can plan the processes of a small company from the perspective of financial accounting and argue how bookkeeping and financial statements are drawn up from these processes. You can actively plan actions to impact direct taxation, profitability, finance and solvency of a company. You can guide others’ work. You are able to follow the schedule.