SHE Level 4
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code MHN824528
Module Leader Claire Bereziat
School Glasgow School for Business and Society
Subject Tourism and Events
  • B (January start)

Pre-Requisite Knowledge


Summary of Content

This module has a dual focus: to give hospitality and tourism students both a conceptual understanding and practical use of accounting and financial information from feasibility to final reporting in the tourism and hospitality industries. The content will explore management information systems, managerial accounting procedures, quantitative analysis techniques, feasibility analysis and reporting concepts as well as providing students with the ability to write bids, proposals, and funding applications. The syllabus examines practical financial strategy in the private, public and not-for profit sectors within the tourism and hospitality industries, as well as considering the viability and feasibility of growth. The practical application of financial management is illustrated through case analysis and involvement of industry partners and former clients in teaching and assessment of feedback and student presentations. Students are encouraged to use financial language, analytical techniques that provide the basis for responding to weekly case assignments to weekly case studies. The module aims to get the student to analyse the 'why', 'how' and 'what' in financial terms as applied to these sectors. Summary of how PRME-related issues/topics are covered in this module: This module seeks to explore the notion of financial sustainability and environmental sustainability in a highly competitive market and trading environment. Concepts such as sources of capital, ethical funding, supply chain and sourcing will be considered from a financial and responsible management agenda.


Reviewing financial statements and applications Financial feasibility analysis Investment appraisal, internal rate of return (IRR) and discounted cash flow (DCF) Practical yield management; airlines, accommodation and food Forecasting profit and loss, cash flow and understanding viability / new project development Profit sensitivity analysis for the hospitality and tourism sectors Funding sources and the narrative elements of grant and loan applications Leverage and gearing, understanding interest rates, corporate tax and profitability Understanding statistical and financial multipliers in tourism and hospitality Dynamic packaging and bundling services for sales and profitability Proposals and the Tendering process Grant Applications

Learning Outcomes

On successful completion of this module, the student should be able to:1. Interpret and analyse financial feasibility 2. Explain the nature of economic and environmental sustainability in respect of profit and investment return3. Source finance and consider the cost of capital in respect of business development or new concept development 4. Understand and apply profit sensitivity and yield management to hospitality and tourism businesses5. Demonstrate and defend development, borrowing and investment return6. Critically review the business planning and feasibility process7. Appreciate the nature, scope and constraints of the tourism and hospitality sector from a financial perspective 8. Evaluate the performance at divisional/organisational level within profit/not-for-profit organisations9. Be able to source funding and income generation opportunities, whether from grants or tenders10. Be able to write a grant application/proposal as a response to a commercial tender

Teaching / Learning Strategy

The module will be taught via a combination of lectures and seminars. Lecture materials will be drawn from both academic and industry publications and supplemented and underpinned by directed reading. Students will work weekly on case studies, whether in a group setting or individually. Case study materials will be used in order to place theory into practice, allowing students to gain a greater understanding of the complexities of revenue and finance within the tourism and hospitality arenas. These will be largely drawn from work undertaken by the Moffat Centre (see <>), and guest speakers from external and internal panels of industry contacts and potential employers will also be invited to contribute their experience where relevant. The first assignment will be in a report format, based on the learning outcomes associated with Revenue Management and evaluation of financial performance drawn from the Tour Operator simulation exercise. They will be provided with relevant background and other supporting information necessary to inform their piece of work. The second assignment will require students to apply knowledge gained from lectures and seminars, to further learning.This assignment will be based on the learning outcomes associated with the academic theories, and their practical application, of how Investment Decisions are made and how Funding is then applied for. This will replace the existing exam assessment A part of this assignment will involve Groups making presentations to prospective funders. GSBS will continue to use the advancement of GCU Learn as a blended learning tool through its teaching and learning as well as through engagement with students. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCULearn to ensure student support and information sharing. Students are provided with formative and summative feedback via a variety of mechanisms. Feedback on coursework is provided within 3 working weeks of submission.

Indicative Reading

-567 Books: Atrill, P. and McLaney, E. (2011). Accounting & Finance for Non-Specialists, 7th ed Financial Times/Prentice Hall Bennett R, Kerrigan F and O'Reilly D (2012) New Horizons in Arts, Heritage, Nonprofit and Social Marketing . Routledge Coltman M (2012) Hospitality Management Accounting, Van Reinhold Cilella Salvatore G (2011) Fundraising for Small Museums: In Good Times and Bad. AltaMira Press,U.S. Dyson J, R. (2010) Accounting for Non-Accounting Students, 8th ed Financial Times/Prentice Hall Dorner J, Seely J and Baumgartner-Cohen J (2004) Writing Bids and Funding Applications .OUP Oxford French A, Carver J and Smyth J (2010) A Guide to the Major Trusts 2010-2011: Further 1100 Trusts Pt. 2, 12th ed. Directory of Social Change Hayes DK. and Miller A (2010) Revenue Management for the Hospitality Industry. John Wiley & Sons. Ingold A, McMahon-Beattie U and Yeoman I (2001) Yield Management: Strategies for the Service Industries, 2 nd ed. Cengage Learning EMEA. Jagels, Martin (2007) Hospitality management accounting. Wiley. Luby A and O'Donoghue D (2005) Financial Accounting for the Hospitality, Tourism and Retail Sectors. Blackhall Publishing Ltd. Traynor T (2011) The Guide to New Trusts 2011-2012. Directory of Social Change Traynor T, Doherty J and Lernelius-Tonks J (2012) The Guide to the Major Trusts 2012-2013: Part 1. Directory of Social Change Weygandt, Jerry J. (2009) Hospitality financial. John Wiley/ Whaley Simon (2007) Fundraising for a Community Project: How to Research Grants and Secure Financing for Local Groups and Projects in the UK. How To Books Wood, F. and Sangster, A. (2011) Business Accounting Volume 1, 12th ed Financial Times/Prentice Hall -567 Online sources: MyAccountingLab (MAL), Atrill, P. and McLaney, E. (2011). Accounting & Finance for Non-Specialists, 7th ed Financial Times/ Prentice Hall -567 Journals Annals of Tourism Research Applied Geography British Food Journal Hospitality Management International Journal of Hospitality Management Journal of Hospitality and Tourism Management Journal of Sustainable Tourism Journal of Tourism Marketing Tourism Management Tourism Management Perspectives

Transferrable Skills

By the end of this module students will have gained competence in the following key areas: - -360 - Independence Knowledge of Financial issues - Ability to reflect/ consider - Ethics/awareness - Time management - Communication Skills in respect of numeracy - Commercial awareness - Project Management

Module Structure

Activity Total Hours
Lectures (FT) 24.00
Seminars (FT) 12.00
Independent Learning (FT) 114.00
Assessment (FT) 50.00

Assessment Methods

Component Duration Weighting Threshold Description
Coursework 2 n/a 40.00 n/a Group Presentation (30 minutes)
Coursework 1 n/a 60.00 n/a Individual Written Assignment 2500 words