Curricula

Objectives

Management accounting focuses on providing information for internal decision makers. This course will provide you with the basic knowledge and capabilities of management accounting. Having taken this course you know different aspects, processes and responsibilities of operational management in profitable and responsible hospitality business. You know the prerequisities of profitable business operations and the means to enhance profitability. You can analyse business data and take decisions based on your analysis.

Content

The course contents cover the basic concepts and the purpose of cost and management accounting in hospitality business. The contents include basics of cost accounting, break-even analysis, pricing and resource and revenue planning.

Learning materials and recommended literature

Harris, Peter: Profit Planning: For Hospitality and Tourism. 2011. Available as an E-book in JAMK's library.

Teaching methods

Lectures in a classroom in Rajakatu campus
Books
Video materials
Learning tasks
Guidance and feedback

Exam dates and retake possibilities

Exam will be held on week 48.
Two resit examinations will be held according to Degree Regulations and the dates will be on week 49 and 50.

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

The course includes 135 hours of student work.
Allocation of time on various tasks and student work load:
Lectures and exam 40 h
Independent familiarization with literature and videos 50 h
Exercises and assignments 45 h

During the teaching and guidance contacts you familiarize yourself with the contents of the course, and you do and check learning assignments alone and in groups. You do learning assignments also on you own time.

Content scheduling

The course includes independent familiarization with literature and videos as well as lectures and exercises and assignments.

Lectures (wk 35-47)
Autumn break (wk 42)
Exam (wk 48)
Exam resit 1 (wk 49)
Exam resit 2 (wk 50)

To be passed need time to stydy weekly. In addition to lectures, reserve approximately 6-8 hours of time in your calendar each week for this course.

Evaluation scale

0-5

Evaluation criteria, satisfactory (1-2)

Adequate 1
You are able to name concepts of profitability and costs from the management accounting point of view and know which factors affect profitability. You understand the basic principles of cost-volume-profit analysis and are able to prepare a basic cost-volume-profit calculation. After completing the course, you will be able to explain the basic principles of pricing in your own words.

Satisfactory 2
You are able to present factors affecting to profitability from the management accounting point of view and recognize the factors related to the management of profitability. You are able to prepare cost-volume-profit and pricing calculations for an example company under guidance. You recognize factors affecting the pricing in the example company and are able to name key factors in pricing..

Evaluation criteria, good (3-4)

Good 3
You are able to outline cost-volume-profit analysis and calculations, itemize the process steps from the management accounting point of view and describe the impact of cost-volume-profit based analytical profit calculation factors on profitability. You are able to prepare error-free cost-volume-profit and pricing calculations as well as apply these methods for decision making. You are able to carry out profitability analysis based on cost-volume-profit and pricing calculations.

Very Good 4
You are able to assess the impact of cost-volume-profit analysis from the management accounting point of view. You are able to develop profitability analysis as an analytical profit calculation based on cost-volume-profit and pricing calculations.

Evaluation criteria, excellent (5)

Excellent 5
You are able to plan cost-volume-profit analysis and sensitivity analysis for alternative action plans from the management accounting point of view. You are able to plan active measures related to cost-volume-profit and pricing calculations to influence the company’s profitability.