0518_68_INE_Finance and Funding in TTS - 3000 words

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ICON College of Technology and Management PEARSON BTEC Level 5 HND in Travel and Tourism QCF

Scheme of Work Unit Number and Title 2 Finance & Funding in the Travel & Tourism sector

Unit Level and Semester 5 February 2018

Tutor/Assessor Dan Sookun and Kofi Barimah

Learning Outcomes:

LO1: Understand the importance of C-V-P for management decision-making in travel & tourism

LO2: Understand the use of MA information as a decision-making tool in T & T business

LO3: Be able to interpret financial statements to assist decision-making in T & T businesses

LO4: Understand sources and distribution of funding for public & non-public tourism development

Sessions LOs and Assessment Criteria Lectures and Activities

Session1 Week 1

LO 1:1.1 Understand the importance of C-V-P for management decision-

making in travel & tourism

Introduction to the Unit learning outcome, Syllabus, and understanding assignment brief, and academic Skill, citation and referencing etc. Lectures: Introduction to the unit: unit learning outcome, syllabi and unit contents and study skills development.

Introduction to costs and cost analysis

Session 2 Week 2

LO 1: 1.2 Understand the importance of costs, relationship between cost,

volume and profitability.

Lectures: Types of costs and costing systems. Use of break- even-analysis, pricing methods to achieve required profits,

Activity: Group discussion on pricing methods and CVP application, study skills and formative feedback

Session 3:

LO 2: 2.1 the use of management accounting information in the T & T

industry

Lectures: Looking at financial statements,

Activity: Assignment writing and formative feedback

Session 4:

LO 2: 2.2 budgets and budgetary control, forecast and MIS

Lectures: various employment related laws in the UK. Activity: Discussion on Budgeting

Session 5

LO 2:2.3 Investment appraisals methods NPV, ARR, Payback period,

Lectures: Investment appraisals methods Activity: tutorials on academic writing and study skills

Session 6: Week 6

LO 2: 2.4 Interpretation of financial statements u

. Lectures: financial ratios, cash flow statements o. Activity: Student presentation of Ratio Analysis

Session 7 LO 3: 3.1 financial performance Lectures: Interpretation of the key financial ratios Activity: Group discussion on Ratio analysis

Session 8

LO 3: 3.2 sources and distribution of funding 3.2 compare the selection process of different service business

Lecture: e sources and distribution of funding for public and non-public tourism development: looking at the roles of the

Department of culture,

Activity: Academic writing and formative feedback

Session 9:

LO 4: 4.1 Capital projects : Tourism information Points, Interpretation

Boards, Small scale environmental

improvement

Lectures: Capital projects Activity: Discussion of the different methods of funding

public and non-public tourism development

Session 10:

LO 4: 4.2 Financing tourism projects, non-public funding, equity

funding and government funding

Lectures: Financing tourism projects Activity: Feedback on assignment writing

Session 11 Presentation: Lectures: various related topics (also mission classes) Activity: Study skills

Session 12

Revision Overall formative feedback

Session 13 Study week

Session 14 Final Assignment Submission

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Recommended Reading Text Books: Dyson J.R- Accounting for Non-Accounting students (Financial Times/Prentice Hall, 2007) ISBN: 9780273709220 Journals and newspaper: The financial mainstream press can provide useful background reading, and can also be a useful source of case studies and financial information. Copies of published financial reports are available from companies themselves, or via The Financial Times (a free online ordering service is available). Company specific information can gotten from companies’ house accounts filing and journals of the Travel and Tourism industry Harvard Business Review (available at ICON Library) Economist (available at ICON Library) News-Paper: Financial Times Website: www.aat.co.uk The Association of Accounting Technicians www.accaglobal.com The Association of Chartered Certified Accountants www.bized.co.uk Bized provides a selection of teaching and learning resources www.ft.com The Financial Times