Profitability Planning - Opinto-opas

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

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

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

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.

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.

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

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

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.

Haaga Campus

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.

English

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

13.01.2025 - 14.03.2025

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

02.01.2025 - 10.01.2025

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

REE4HA1
CONTACT
EXCH

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.

Pekka Heikkilä

15 - 40

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

EXPER Hospitality and Tourism Experience Management

0.00 cr

H-5