Profitability Planning - ECO001RE1AE - Opinto-opas

Profitability Planning, 5 cr - ECO001RE1AE

Upcoming implementations

Profitability Planning ECO001RE1AE-3002 13.01.2025-14.03.2025 5 op (REE4HA1, ...) +-
Teaching methods and instruction

Teaching is based on contact lessons (starting from calendar week xx): 48 contact hours, 87 hours independent study.

Learning material and recommended literature

Schmidgall, R. 2009 (or later). Hospitality Industry Managerial Accounting. Educational Institute of the American Hotel & Motel Association, USA. Chapters: 6-9 and 10
Other study materials in Moodle

Working life connections

Students are encouraged to actively present their own thoughts and knowledge from their working experiences . All the assignments are working life related and based on practical cases.

Campus

Haaga Campus

Exam dates and re-exam possibilities

Two classroom exams by Excel (max 2 * 30 p = 60 p) and two home-assignments (max 2 * 10 p = 20 p) during the course will include practical cases related to studied topics.

Teaching language

English

Internationality

International reporting standards of the hospitality industry are applied in assignments.

Timing

13.01.2025 - 14.03.2025

Learning assignments

Two individual home-assignments will be given during the implementation.

Enrollment

02.01.2025 - 10.01.2025

Content scheduling

Weeks 1 and 2: Approach to budgeting and forecasting sales, Key Performance Indicators (KPIs) of the hospitality industry
Weeks 3 and 4: Impact of pricing on demand and profitability and Profitability calculations of profit centers and customer segments
Weeks 5 and 6: Operational budgeting and Variance Analysis
Weeks 7 and 8: Cash budgeting and Forecasted Balance Sheet
Groups
- REE4HA1
- CONTACT
- EXCH
Alternative learning methods

If you have prior learning of topics studied during this implementation you can demonstrate your competencies: procedure is to be discussed individually, please contact the teacher of this implementation.

Teachers

Pekka Heikkilä

Seats

15 - 40

Further information

Exam and Home assignments 100% (total max 80 p) showing:
Student´s skills to produce forecasts and use hospitality KPIs (Key Performance Indicators)
Student´s skills to apply in solving managerial accounting problems,
Student´s skills to apply operational and cash budgets included in course contents and handle them as management tools

Evaluation table: S1 = 36 - 43 p / S2 = 44 - 51 p / G3 = 52 - 59 p / G4 = 60 - 67 p / E5 = 68 - 80 p

Degree Programme

EXPER Hospitality and Tourism Experience Management

R&D proportion

0.00 cr

Virtual proportion

0.00 cr

Evaluation scale

H-5

Current implementations

Profitability Planning ECO001RE1AE-3005 19.08.2024-31.07.2025 5 op (DEMO) +-
Teaching methods and instruction

This is a demonstration or DEMO-implementation for students who already have the knowledge and skills taught on the course. The course does not have tuition or classes.

Learning material and recommended literature

Schmidgall, R. 2011 (or later). Hospitality Industry Managerial Accounting. Educational Institute of the American Hotel & Motel Association, USA. Chapters: 6 - 11
Other study materials in Moodle

Teaching language

English

Timing

19.08.2024 - 31.07.2025

Enrollment

01.08.2024 - 31.05.2025
Groups
- DEMO
Alternative learning methods

Demonstration implementation. The course does not have tuition or classes.

Teachers

Pekka Heikkilä

Seats

1 - 40

Degree Programme

EXPER Hospitality and Tourism Experience Management, STEM Sustainable Tourism and Event Management

R&D proportion

0.00 cr

Virtual proportion

0.00 cr

Evaluation scale

H-5

Past implementations

Profitability Planning ECO001RE1AE-3006 19.08.2024-11.10.2024 5 op (REE4HA1, ...) +-
Teaching methods and instruction

Teaching is based on contact lessons (starting from calendar week 34/2024): 48 contact hours, 87 hours independent study.

Learning material and recommended literature

Schmidgall, R. 2009 (or later). Hospitality Industry Managerial Accounting. Educational Institute of the American Hotel & Motel Association, USA. Chapters: 6-9 and 10
Other study materials in Moodle

Working life connections

Students are encouraged to actively present their own thoughts and knowledge from their working experiences . All the assignments are working life related and based on practical cases.

Campus

Haaga Campus

Exam dates and re-exam possibilities

Two classroom exams by Excel (max 2 * 30 p = 60 p) and two home-assignments (max 2 * 10 p = 20 p) during the course will include practical cases related to studied topics.

Teaching language

English

Internationality

International reporting standards of the hospitality industry are applied in assignments.

Timing

19.08.2024 - 11.10.2024

Learning assignments

Two individual home-assignments will be given during the implementation.

Enrollment

03.06.2024 - 16.08.2024

Content scheduling

Weeks 1 and 2: Approach to budgeting and forecasting sales, Key Performance Indicators (KPIs) of the hospitality industry
Weeks 3 and 4: Impact of pricing on demand and profitability and Profitability calculations of profit centers and customer segments
Weeks 5 and 6: Operational budgeting and Variance Analysis
Weeks 7 and 8: Cash budgeting and Forecasted Balance Sheet
Groups
- REE4HA1
- CONTACT
- EXCH
Alternative learning methods

If you have prior learning of topics studied during this implementation you can demonstrate your competencies: procedure is to be discussed individually, please contact the teacher of this implementation.

Teachers

Pekka Heikkilä

Seats

15 - 40

Further information

Exam and Home assignments 100% (total max 80 p) showing:
Student´s skills to produce forecasts and use hospitality KPIs (Key Performance Indicators)
Student´s skills to apply in solving managerial accounting problems,
Student´s skills to apply operational and cash budgets included in course contents and handle them as management tools

Evaluation table: S1 = 36 - 43 p / S2 = 44 - 51 p / G3 = 52 - 59 p / G4 = 60 - 67 p / E5 = 68 - 80 p

Degree Programme

EXPER Hospitality and Tourism Experience Management

R&D proportion

0.00 cr

Virtual proportion

0.00 cr

Evaluation scale

H-5
Profitability Planning ECO001RE1AE-3004 14.08.2023-26.07.2024 5 op (DEMO) +-
Learning material and recommended literature

Schmidgall, R. 2011 (or later). Hospitality Industry Managerial Accounting. Educational Institute of the American Hotel & Motel Association, USA. Chapters: 6 - 11
Other study materials in Moodle

Teaching language

English

Timing

14.08.2023 - 26.07.2024

Enrollment

20.11.2023 - 20.11.2023
Groups
- DEMO
Teachers

Kalle Räihä, Hanna Moisio, Pekka Heikkilä

Seats

1 - 40

Degree Programme

EXPER Hospitality and Tourism Experience Management

R&D proportion

0.00 cr

Virtual proportion

0.00 cr

Evaluation scale

H-5
Profitability Planning ECO001RE1AE-3001 15.01.2024-15.03.2024 5 op (REE4HA1, ...) +-
Campus

Haaga Campus

Teaching language

English

Timing

15.01.2024 - 15.03.2024

Enrollment

02.01.2024 - 12.01.2024
Groups
- REE4HA1
- CONTACT
- EXCH
Teachers

Pekka Heikkilä

Seats

15 - 40

Degree Programme

EXPER Hospitality and Tourism Experience Management

R&D proportion

0.00 cr

Virtual proportion

0.00 cr

Evaluation scale

H-5
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A student who has completed this course or acquired equivalent competence is familiar with the following activities of the hospitality, restaurant and tourism business:
- Calculate the key operational indicators of the activity
- Take into account the factors affecting profitability (pricing, demand analysis, cost structure)
- Make and interpret profitability calculations of product, customer group and profit center
- Use the principles of activity-based costing
- Basics of operational budgeting
- Utilize Excel spreadsheets in profitability planning

Key Performance Indicators (KPIs)
Impact of pricing on demand and profitability
Product group specific profitability calculation
Profit unit specific profitability calculations
Activity-based costing in profitability planning
Basics of operational budgeting

Contact lessons including:
Group working
Individual learning
Examination

Recognition of Prior Learning, RPL:
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. Please contact the teacher.

Work-based learning (Work & Study):
If your work tasks support learning goals and skills required of this course, you can gain the competences by working and by connecting practical work with a theme-related knowledge base. ?Please contact the teacher.

Schmidgall, R. 2011 (or later). Hospitality Industry Managerial Accounting. Educational Institute of the American Hotel & Motel Association, USA. Chapters: 6 - 11
Other study materials in Moodle

After completing this course, you will understand the central role of financial reporting and financial planning in the business operations of the hospitality, restaurant and tourism sector. During the studies, you will familiarize yourself with different ways of producing essential information through accounting for the decision-making needed to manage the company.

The aim of the course is to bring together the most important competences in management accounting, which will benefit a future supervisor, expert or service professional.

During the course, you will learn the basics of financial communication and how you will be able to communicate more efficiently, taking into account the different stakeholders of the company.

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.

Basics of Financial Management have to be completed before this course.

The student recognizes key elements of performance and is able to draw up a company's profitability plan, he/she is mastered in the basic use of spreadsheets in profitability planning. He/she is able to name the basic factors for the company's financial success.

The student is able to independently prepare the company's basic operational budgets, taking into account the key performance factors, and masters the basic use of spreadsheets in profitability planning. He/she is able to calculate profitability indicators and to analyze the factors that led to the company's financial success by customer groups and operations.