This module aims to provide students with an understanding of the financial and accounting records used in the Hospitality Industry, and the ways these can aid effective managerial decision-making.

It gives detailed additional coverage on Sales & Cash Budgeting, Marginal Costing and Final Accounts for internal use.

The course content should follow on from the material in the Diploma module, allowing students to calculate marginal costings and formulate decisions from such material.

It gives students the ability to interpret accounting information and maximise the use of computing in management accounting. 

Summary of Learning Outcomes

On completion of this module the students will be able to;

• Prepare and understand internal final accounts for Sole Traders, Partnerships and Limited Companies
• Control cash and credit sales
• Calculate costings for a range of goods and services
• Make pricing decisions on the basis of costings and other factors
• Prepare budgets and use variances to analyse and compare actual and budgeted figures
• Evaluate capital investment decisions using a variety of techniques
• Interpret accounts using standard ratios and percentages

Syllabus

Assessment

There are two methods of assessment for this module;

Summative assessment (coursework) – This will be set and marked by the centre with guidance from CTH and will usually be based upon the students working environment, developing an understanding of the issues with Management Accounting and the diversity of the hospitality industry. Weighting 20%. Further details are available from CTH.

Formative assessment (examination) – This will be a three hour examination set and marked by CTH. It will comprise of two sections; Section A will have questions based on an industry case study (40 marks) and Section B will comprise of 5 x 20 mark questions of which candidates must select and answer three (60 marks). Weighting 80%