Maricopa Community Colleges  HRM220   19956-20055 
Official Course Description: MCCCD Approval: 12/13/94
HRM220 19956-20055 LEC 3 Credit(s) 3 Period(s)
Hospitality Managerial Accounting
Study of financial statement analysis, asset management, ratio analysis, analytical techniques, and investment decision making. Emphasis on planning, budgeting, and management decisions. Prerequisites: ACC111 or ACC230.
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MCCCD Official Course Competencies:
 
HRM220   19956-20055 Hospitality Managerial Accounting
1. Compare managerial accounting and financial accounting and explain the objectives of managerial accounting in the hospitality industry. (I)
2. Examine the purposes and uses of financial statements. (II)
3. Identify and describe the uses of financial ratios in operations analysis. (III)
4. Examine the purposes of internal control and identify and describe types of management and control systems.(IV)
5. Identify and practice cost management techniques. (V)
6. Analyze the framework and application of budgeting. (VI)
7. Identify and describe key concepts of working capital and cash management techniques. (VII)
8. Identify and examine the principles of investment decision making. (VIII)
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MCCCD Official Course Outline:
 
HRM220   19956-20055 Hospitality Managerial Accounting
    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
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