Accounting Principles for Management

Unit code: VHH1005 | Study level: Undergraduate
Credit points
12
(Generally, 1 credit = 10 hours of classes and independent study.)
Location
Footscray Nicholson
Prerequisites
N/A
Overview
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Overview

This unit will provide students with a fundamental theoretical knowledge of basic accounting concepts and the opportunity to apply these in the context of managing a hotel or hospitality business. Students will examine the roles of accounting and management planning to support organisational decision making. Students will learn to source, analyse and interpret the information required to create financial reports, and to prepare, monitor and manage finances within a budget.

Learning Outcomes

On successful completion of this unit, students will be able to:

  1. Demonstrate theoretical and technical knowledge of fundamental accounting concepts and principles;
  2. Create a set of basic financial reports for a hotel or hospitality business to inform users of business performance and position;
  3. Create a budget for a hotel or hospitality business for the purpose of planning and control of business operations;
  4. Calculate and review finances within a budget, demonstrating the ability to assess and respond to budget deviations; and
  5. Communicate financial information to relevant stakeholders in a manner appropriate to the audience enabling for short-term and long-term decision-making.

Assessment

For Melbourne campuses

Assessment type: Test
|
Grade: 20%
Online test on basic accounting concepts and principles
Assessment type: Report
|
Grade: 30%
Financial analysis report Part A (10%) Part B (20%)
Assessment type: Assignment
|
Grade: 25%
Case study on accounting concepts and preparing financial reports
Assessment type: Test
|
Grade: 25%
Open book test on forecasting in the industry

Required reading

Recommended readings will be provided via VU Collaborate.

As part of a course

This unit is studied as part of the following course(s):

Associate Degree in Hospitality and Hotel Management
VAHH | Associate degree | Duration: 2 years

Refer to the course page for information on how to apply for the course. VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.

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