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Official Course
Description: MCCCD Approval: 12-14-2004 |
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HRM220
2005 Fall – 2011 Summer II |
LEC
3.0 Credit(s) 3.0 Period(s) 3.0 Load Occ |
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Hospitality
Managerial Accounting |
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Study of financial statement analysis, asset management,
ratio analysis, analytical techniques, and investment decision making.
Emphasis on planning, budgeting, and management decisions. Prerequisites: ACC211. |
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Go to Competencies Go to Outline
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MCCCD
Official Course Competencies: |
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HRM220 2005
Fall – 2011 Summer II |
Hospitality Managerial Accounting |
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1.
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Compare
managerial accounting and financial accounting and explain the objectives of
managerial accounting in the hospitality industry. (I) |
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2.
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Examine the purposes and uses of financial statements.
(II) |
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3.
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Identify and describe the uses of financial ratios in
operations analysis. (III) |
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4.
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Examine the purposes of internal control and identify and
describe types of management and control systems.(IV) |
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5.
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Identify and practice cost management techniques. (V) |
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6.
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Analyze the framework and application of budgeting. (VI) |
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7.
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Identify and describe key concepts of working capital and
cash management techniques. (VII) |
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8.
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Identify and examine the principles of investment decision
making. (VIII) |
Go to Description Go to top of
Competencies
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MCCCD
Official Course Outline: |
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HRM220 2005
Fall – 2011 Summer II |
Hospitality Managerial Accounting |
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I. Managerial Accounting in
Hospitality Industry A. Comparison of Financial
and Managerial Accounting B. Objectives of Managerial
Accounting 1. Planning Processes 2. Internal Controls 2. Information For
Effective Decision Making II. Purposes and Uses of
Financial Statements A. Financial Statements as
Management Tools B. Hospitality Accounting
vs. Other Industries C. Analysis and
Interpretation of Financial Statements D. Consolidated and
Segmented Financial Statements III. Uses of Financial
Ratios in Operations Analysis A. Common Ratios and
Analysis Techniques B. Interpreting Results C. Impact of Leverage in
Financing IV. Internal Control A. Principles of Internal
Control B. System Requirements C. Cash Receipts and
Disbursements D. Types of Management and
Control Systems V. Cost Management
Techniques A. Cost Terms, Concepts,
and Classifications B. Variable, Fixed, and
Mixed Costs C. Food and Beverage Cost
Control D. Labor Cost Control E.
Purchasing and Inventory Control VI. Framework and
Application of Budgeting A. Responsibility
Accounting B. Different Approaches to
Budgeting C. Variance Analysis VII. Working Capital and
Cash Management A. Working Capital B. Cash Management
Techniques C. Accounts Receivable
Management VIII. Investment Decision
Making A. Asset Management B. Calculation and Analysis
of Rate of Return C. Discounted Cash Flows D. Payback Analysis E. Purchase vs. Lease |