HTM440 - Financial Management

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Last revision date May 25, 2020 1:53:13 AM
Last review date Aug 3, 2020 12:15:13 AM

Subject Title
Financial Management

Subject Description
This subject develops and extends your understanding of the basic tools of financial management used by all managers in planning, analyzing and controlling their areas of responsibility. Upon completion of this subject you will be able to:

a) use financial statements and financial analysis to assess financial strengths and weaknesses;
b) explain and apply techniques for managing your business investment in cash, receivables and inventory;
c) display a working knowledge of the sources and features of short-terms and long-term debt financing;
d) display a working knowledge of the markets, institutions and securities for equity financing;
e) utilize word processing, spreadsheet, and internet applications to research, analyze and report on financial management issues.

Credit Status
Financial Management is a required credit subject in the Hospitality - Hotel and Restaurant Services Management Diploma Program

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Define and explain accounting principles and concepts.
2. Prepare accurate financial statements in proper formats used in the hospitality industry.
3. Understand the main purpose of different financial statements.
4. Calculate trend percentages.
5. List and describe the value of five major categories of ratios.
6. Interpret results after calculating various ratios.
7. Calculate average room rates required to cover all forecast costs.
8. Calculate total revenue required for a restaurant operation to cover all costs.
9. Use knowledge about fixed and variable costs for different business decisions.
10. Explain budgeting.
11. Prepare budgeted income statements given appropriate information.
12. Use mathematical techniques in forecasting.
13. Understand the importance of cash planning.
14. Explain cash flow budgeting.
15. Use correct business etiquette and adhere to professional standards of dress, hygiene and grooming.

Essential Employability Skills
Execute mathematical operations accurately.

Apply a systematic approach to solve problems.

Use a variety of thinking skills to anticipate and solve problems.

Academic Integrity
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Please visit the Academic Integrity website to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

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Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.