Operational Budgeting (5 cr)

Evaluation scale

H-5

Schedule

Week 1: Forecasting methods / Sales budget
Week 2: Basic cost concepts / Cost-Volume-Profit analysis
Week 3: Cost-Volume-Profit analysis
Week 4: Efficient use of labour force / Exam
Week 5: Operational budgets / Operational ratios
Week 6: Variance analysis
Week 7: Cash budgeting,
Week 8: Forecasted Balance Sheet / Exam

Implementation methods, demonstration and Work&Study

Contact lessons
Group working
Individual learning
Examination

Materials

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 material in Moodle

Teaching methods and instruction

Teaching is based on contact lessons and individual working by Excel: 48 contact hours, 87 hours
independent study.

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.

Exam dates and re-exam possibilities

Exams on 13.9.2019 and 11.10.2019. The exams will include practical budgeting cases and will be done using excel.
Two re-exam possibilities: following two general exams

Internationality

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

Completion alternatives

RPL (Recognition of Prior Learning): procedure is to be discussed individually

Learning assignments

Individual assignments will be given during the lessons.

Assessment methods

Participation in classroom teaching (at least 80% attendance)
Examinations 100%, made by Excel showing:
Student´s skills to apply CVP technique in solving managerial accounting problems,
Student´s skills to produce forecasts and operational and cash budgets included in course contents and handle them as management tools,
Student´s skills to plan the use of labour force efficiently