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Course Description
Managerial and financial analyses of numerical data used for decision-making. Consideration of systems, techniques, information types, and presentational forms used by hospitality management. Emphasis on situations oriented to the hospitality industry.
Pre-requisite
College of Consumer & Family Sciences majors only; MA 15200 or higher and HTM 14100 or MGMT 20000.
Course Objectives
At the completion of this course, the student will be able to:
- Describe the major accounting categories that appear on the statement of income, the balance sheet, and equity statements.
- Utilize ratio analysis to evaluate managerial effectiveness in meeting objectives.
- Utilize various pricing methods in the hospitality and service industries.
- Describe various costs as found in hospitality and service businesses.
- Define direct and indirect costs, fixed, and variable costs, and discretionary costs.
- Calculate costs of sales.
- Utilize costs to help make business decisions.
- Utilize CVP analysis to calculate the break even point as well as examine the effect of cost and price changes.
- Describe the budgeting process. Prepare budgeted income statements given information about revenue and cost.
- Analyze differences between planned budgets and actual results.
- Describe how to generate the statement of cash flow.
- Utilize cash management procedures to prepare a cash budget.
- Utilize various decision making approaches to capital investment including payback period, accounting rate of return, net present value, and internal rate of return.
- Utilize Excel as a tool in setting up and examining various financial decisions.
Instructor Information
John Roselle, MBA
Office: Stone 152-B
Phone: (765) 494-4738
E-mail: Roselle@purdue.edu
Soo Cheong (Shawn) Jang, PhD
Office: Stone B1-C
Phone: (765)496-3610
E-mail: jang12@purdue.edu
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