Level 5 Subject: Understanding Funding and Finance in Tourism and Hospitality

This subject aids in the understanding of the concepts of financial management and accounting within the field of hospitality or tourism. Students will cover controlling the finances, managing the cash flow and managing the profitability of a department within the hospitality or tourism business.

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Description

This subject aids in the understanding of the concepts of financial management and accounting within the field of hospitality or tourism. Students will cover controlling the finances, managing the cash flow and managing the profitability of a department within the hospitality or tourism business.

Accreditation

CTH Programme in Tourism and Hospitality

Qualification

This subject forms part of the CTH Programme in Tourism and Hospitality, on completion of all 7 Level 5 subjects you shall receive a CTH Level 5 Advanced Diploma in Tourism Management (UK based qualification).

Requirements

You must be at least 16 years old and must have passed Grade 10 or your GCSEs.
If you have not passed Grade 10 / GCSEs, but are over the age of 21, you may still be considered.
You must be able to speak, read and write in English.
Successful completion of the CTH Level 4 Diploma in Tourism Management.

Duration

This subject can be completed in 3 months.

Subjects

The sources of funding for both the private and public sectors:

1.1 The main sources of internal funding.
1.2 The main sources of short-term external funding.
1.3 A number of sources of long-term external funding.
1.4 The role the public sector may have in funding the industry.

The importance of costs, volume and profit for decision making:

2.1 Costs such as direct, indirect, fixed and variable; and use methods of allocation and apportionment.
2.2 How the volume of trade can affect income using break-even analysis.
2.3 How to use different pricing methods to achieve targeted gross and net profits.

The use of management accounting information to assist decision making:

3.1 Where to find the relevant management accounting information for a given issue.
3.2 A range of processes and procedures to aid decision making.

Interpreting financial accounts to aid in decision making:

4.1 A number of tools to measure and interpret given financial accounts.
4.2 The recognised tools shown in 4.1 to make valid suggestions on how to improve the business’ performance.

Packages

This course is available via the Online Standard package. This package includes the following:

Online Standard:
- Textbooks
- Introduction Video
- Exam Info
- Q & A Platform
- Concept Videos
- Forums
- Exam Timetable
- Study Schedule
- A Mock Exam & Solutions
- Two Online Sessions with your Lecture

Assessment

You will be required to complete a final closed book written examination for marking.

What's next

You can continue your studies with SACOB and CTH and complete more subjects that make up this qualification.