Full Title:Financially Based Decision Making
Module Code:CULN B6032
 
Credits: 5
Valid From:Semester 1 - 2014/15 ( September 2014 )
Module Delivered in 8 programme(s)
Module Description:This module introduces students to the management accounting information systems that are used within the hospitality, tourism and leisure sectors. It focuses on the main accounting models, tools and techniques used by management in their planning and decision making responsibilities.
Learning Outcomes:
On successful completion of this module the learner should be able to
  1. Identify the elements of costs and the various cost classification systems.
  2. Explain the process of overhead allocation and absorption costing, and calculate the full cost of a product/service within the hospitality, tourism and leisure sectors
  3. Explain the relationship between cost, volume and profit and prepare and present various cost volume profit and break-even analyses.
  4. Use the concept of relevant costs and revenues for decision making
  5. Explain the importance of pricing and the factors that influence the pricing decision. and be able to calculate selling price of various hospitality, tourism and leisure based products and services applying appropriate accounting models such as cost- plus, break-even and profit oriented pricing.
 

Module Content & Assessment

Indicative Content
Introduction to Management Accounting
The role of accountancy and the information needs of managers.
Cost analysis and classification systems
Cost analysis and classification systems Accounting for overhead costs CVP analysis - marginal costs and revenues. Cost control and calculations.
Cost control
Cost control and calculation, Stock Control.
Relevant costs and revenues for decision making
Relevant costs and revenues for decision making
The pricing decision and customer profitability analysis
The factors that influence the pricing decision and cost plus pricing, break-even pricing and profit oriented pricing
Modern Developments
JIT, OPT, CIM, TQC
Assessment Breakdown%
Course Work100.00%

Full Time

Course Work
Assessment Type Assessment Description Outcome addressed % of total Marks Out Of Pass Marks Assessment Date Duration
Performance Evaluation Case Study - phased Examination - assess the students' consultation skills, ability to use theory in practice and skills in problem-based learning. This will involve a written report, oral presentation and class discussion. The case study assures engagement with notions of enterprising and innovative activity whilst good report writing skills will be an essential tool for leadership and management within the sector. 5 40.00 0 0 Week 12 0
Class Test In Class Test 1,2 30.00 0 0 n/a 0
Class Test In Class Test 3,4 30.00 0 0 n/a 0
No Project
No Practical
No End of Module Formal Examination
Reassessment Requirement
A repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

DKIT reserves the right to alter the nature and timings of assessment

 

Module Workload & Resources

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 2.00 Every Week 2.00
Tutorial No Description 1.00 Every Week 1.00
Practical Computer workshops will enhance digital literacy in the analysis of financial data. Use of industry related technology will enhance digital literacy through the development of budgets and forecasting futures. 1.00 Every Week 1.00
Directed Reading No Description 3.00 Every Week 3.00
Independent Study No Description 2.00 Every Week 2.00
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 2.00 Every Week 2.00
Tutorial No Description 1.00 Every Week 1.00
Practical Computer workshops will enhance digital literacy in the analysis of financial data. Use of industry related technology will enhance digital literacy through the development of budgets and forecasting futures. 1.00 Every Week 1.00
Directed Reading No Description 3.00 Every Week 3.00
Independent Study No Description 2.00 Every Week 2.00
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 4.00
Resources
Recommended Book Resources
  • Dyson, J.R. 2012, Accounting for non-Accounting Students, 8th Ed Ed., FT Prentice Hall [ISBN: 978-0273722977]
  • Katsigris, C. & Thomas C. 2011, The Bar and Beverage Book, 5th Ed. Ed., John Wiley and Sons [ISBN: 978-0470248454]
Supplementary Book Resources
  • Atrill, P. & McLaney, E. 2012, Accounting and Finance for Non-Specialists, 8th Ed Ed., Pearson [ISBN: 978-0273778035]
  • Mott, G. 2013, Accounting for non- Accountants: A Managers and Students Guide, 8th Ed. Ed., Kogan Page [ISBN: 978-0749464943]
  • Murphy, J. 2013, Principles and Practices of Bar and Beverage Management: Raising the Bar, Goodfellow Publishing Ltd., 2013 [ISBN: 978-1908999375]
This module does not have any article/paper resources
Other Resources
  • Websites: Accounting Institute Websites: www.barkeeper.ie; www.ihi.ie; www.failteireland.com; www.rai.ie; www.hcima.co.uk
  • Journals: Accounting Institute Journals; Harvard Business Review; Business Week; Business Section of Newspapers; Caterer and Hotelkeeper Drinks Industry Ireland; Food and Wine Hospitality Ireland; Hotel and Catering Review Licensing World

Module Delivered in

Programme Code Programme Semester Delivery
DK_BCULA_7 Bachelor of Arts in Culinary Arts 3 Mandatory
DK_BEVNT_7 Bachelor of Arts in Event Management 3 Mandatory
DK_BHPMG_7 Bachelor of Arts in Hospitality Management 3 Mandatory
DK_HCULA_6 Higher Certificate in Arts in Culinary Arts 4 Mandatory
650 Higher Certificate in Arts in Event Studies 3 Mandatory
DK_BFOMB_6 Higher Certificate in Arts in Front Office Management and Business Administration 3 Mandatory
653 Higher Certificate in Arts in Hospitality Skills (Exit Award) 3 Mandatory
DK_HHOST_6 Higher Certificate in Arts in Hospitality Studies 4 Mandatory