This module will give students the knowledge, skills and techniques that will help with the management decision making process.

It will look at the process and practices which take place within a hospitality business and at the analytical skills required to understand financial information. 

Summary of Learning Outcomes

On completion of this module students will be able to;

• Investigate and interpret financial accounts
• Understand the importance of costs and profit in a hospitality business
• Examine the use of management accounting information as a decision making tool in a hospitality business environment

Syllabus

• Systems for financial accounting
• Accounting for credit transactions
• Accounting for cash
• Purchasing and storage of goods
• Raw materials costs
• Employee costs
• Cost control
• Portion control and standard recipes
• Menu costing
• Labour costs
• Operating overheads
• Forms of payment
• Security

Assessment

This module will be assessed via a 2 ½ hour examination set and marked by CTH. The examination will cover the whole of the assessment criteria in this unit and will take the form of 10 x 2 mark questions and 5 x 4 mark questions in section A (40 marks), Section B will comprise of 5 x 20 mark questions of which candidates must select and answer three (60 marks). CTH is a London based body and the syllabus content will in general reflect this.

Any legislation and codes of practice will reflect the international nature of the industry and will not be country specific.