Operational Budgeting (5cr)

Evaluation scale

H-5

Schedule

Weeks 1 and 2: Forecasting methods / Sales budget
Weeks 3 and 4: Basic cost concepts / Cost-Volume-Profit analysis
Weeks 5 and 6: Operational budgets / Operational ratios
Weeks 7 and 8: Cash budgeting

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 every other week (starting from calendar week 35) and distance learning by Zoom every other week (starting from calendar week 35): 24 contact hours, 111 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

Four home-exams during the course 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 produce forecasts
Student´s skills to apply CVP technique in solving managerial accounting problems,
Student´s skills to apply operational and cash budgets included in course contents and handle them as management tools