Financial and operational planning (4cr)

Objective

- Students will able to interpret financial reports. They will know ways to develop business activities to be economically profitable. Students will be able to prepare performance and financial budgets. They will be familiar with spreadsheet computation software and know how to utilize spreadsheets in their professional domain.

Content

- External accounting, profit and loss account, balance sheet
- Internal accounting, covering notes, pricing, financial planning
- Financial management in the private and public sectors
- Basics of using spreadsheet computation(Excel 2010)
- Utilizing spreadsheets in managing finances and one's own field

Qualifications

- Economics of Food Services

Assessment criteria, satisfactory (1)

5
Students can analyze and apply financial reports
Students can analyze and develop company?s economic performance
Student can independently create budgets
Student can use spreadsheet software and apply them in the hospitality management
3
Students can read and report financial reports
Students can develop cost-effective business operations.
Student can create budgets.
Students can use spreadsheet software within the field of hospitality management
1
Students can name the most parts of the essential financial reports
Students can recognize the actions which develop company?s economical performance
Student can name essential budgets and their essential parts
Student can use spreadsheet software and know when and how they can be used in the hospitality management

Materials

- Selander, K. & Valli, V. 2007. Hinnoittelu ja kannattavuus matkailu- ja ravitsemisalalla. WSOY Oppimateriaalit Oy. Helsinki.
Availability: http://plari.amkit.fi/vwebv/holdingsInfo?sk=fi_FI&bibId=75852

- Other material to be announced at the beginning of the course

Teaching methods

- Lectures, exercises, assignments, online study (1 credit).
- Some of the assignments are integrated into the Management of Food Services course.

Further information

- One credit for online studies