Financial AccountingLaajuus (5 cr)

Learning objectives

The course will introduce the basic concepts and procedures of financial accounting. The student will learn to analyse strategically the financial information that companies display in their Financial Statements. Emphasis will be placed on managerial level ratio analysis and interpretation. This course also includes the basic norms of income- and value added taxation.

All the material handled is based on industry cases to reach the financial thinking behind all business operations. Financial reports will be used as managerial tools.

On successful completion of this course, the student is able to

Calculate revenues and expenses based on operations
Make calculations how operational income is generated
Calculate the cash flows based on operations, investments and financing
Produce and analyze the financial statements: The Income Statement, The Balance Sheet and The Statement of Cash Flows
Calculate the working capital tied in business
Calculate company value added tax and income tax

Contents

Accounting basics: Overview of accounting systems
Fundamental concepts: Revenue, Costs, Assets, Equity, Liabilities
The accounting cycle and Financial Statements: Income statement, Balance sheet, Statement of Cash Flows
Uniform System of Accounts for the Lodging Industry
Gross Profit and inventories
Working capital
Ratio analysis
VAT calculations

Lähtötaso ja sidonnaisuudet muihin opintojaksoihin

Prerequisites: Basics of Business Mathematics

Implementation methods, demonstration and Work&Study

Contact lessons
Group working
Individual learning
Examination

Recognition of Prior Learning, RPL (in Finnish AHOT)
Courses or parts of courses at other educational institutes or work experience are not accredited as such towards the HAAGA-HELIA studies directly, but the required skills and competences are demonstrated by a skills examination.

Assessment criteria - grade 1

When the implementation type of the course is CONTACT, ONLINE or BLENDED it is required that the student is present during those teaching hours that are marked in the study schedule. If you are absent more than 25 %, your grade will be lowered by one. If you are absent more than 50 %, the course is failed.

The student masters the essential aspects of producing and analysing financial reports and calculations included in course contents. With given instructions, the student has the ability to perform basic tasks, but needs a lot of guidance.

Assessment criteria - grade 3

The student masters the essential aspects of producing and analysing financial reports and calculations included in course contents. With given instructions, the student will be able to perform basic tasks.

Assessment criteria - grade 5

The student masters the essential aspects of producing and analysing financial reports and calculations included in course contents independently. The student has the ability to apply the knowledge and skills learned in management position.

Learning materials

Schmidgall, R. 2006 (or later). Hospitality Industry Managerial Accounting. Educational Institute of the American Hotel & Motel Association, USA. Chapters 1. - 5.
Lecture materials in Moodle