COURSE SYLLABUS

SCHOOL/COLLEGE: College of Business

DEPARTMENT NAME: Department of Accountancy
TERM: Winter 2010

COURSE TITLE: HOSPITALITY FINANCIAL MANAGEMENT &

LAB
COURSE NUMBER: ACCT3025
QUARTER CREDIT HOURS: 4.5
CONTACT HOURS: 45 lecture hours
PREREQUISITES(S): ACCT1002 or ACCT1012

PROFESSOR NAME: Patricia A. Robinson, Associate Professor

OFFICE LOCATION: J212
OFFICE PHONE: 401-598-4774
OFFICE FAX: none
E-MAIL ADDRESS: probinson@jwu.edu
PUBLIC FOLDER LOCATION: Providence Campus; College of Business;
Robinson, Patricia

OFFICE HOURS: Monday and Tuesday, 11:30 – 12:30.

COURSE DESCRIPTION: This course presents how accounting information is

used by management to analyze and
measure the efficiency and profitability of a
hospitality business. The course
emphasizes the managerial uses of budgets and
variance analysis, relevant cost analysis,
regression analysis and cost-volume-profit
relationships.

COURSE OBJECTIVES: Upon satisfactory completion, each student should

have the ability to:
1. Perform common-size and comparative analysis of financial
statements and compute relevant ratios.
2. Draw inferences and state or write conclusions based upon
financial statement analyses conducted.

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 3. Differentiate between fixed, variable and mixed costs
4. Isolate the fixed component of mixed cost using the basic
High/Low method and regression analysis.
5. Compute contribution margin, contributing margin ratio, income
before taxes, and break even analysis.

6. Apply cost, volume, profit analyses to test feasibility of financial

objectives

7. Discuss and apply various forecasting techniques.

8. Develop operating budgets using both static and flexible models.

9. Analyze significant variances between budgeted amounts and

actual results

CONTENT OUTLINE:

I. Income Statements (Reviewed) [Chapter 7]

A. Revenue, Support and Fixed Charge Breakdown
B. Net Sales, Cost of Sales, Gross Profit, Operating Expenses
C. Fixed Charges, Taxes and Net Income
D. Common-Size Analysis
E. Comparative Analysis

II. Income Statement Ratios [Chapter 8]

A. Formulas
B. Analysis
C. Interpretation

III. Balance Sheets [Chapter 9]

A. Internal Balance Sheets
B. External Balance Sheets
C. Common Size Analysis
D. Comparative Analysis

Exam # 1 on chapters 7 - 9

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 IV. Balance Sheet Ratios [Chapter 10]
A. Formulas
B. Analysis
C. Interpretation

V. Statement of Cash Flows (Review) [Chapter 11]

A. Indirect Method
B. Operating
C. Investing
D. Financing

VI. Interim and Annual Reports [Chapter 12]

A. Role of CPA
B. Audit, Review and Compilation Services
C. Consolidated Statements
D. Reading an Annual Report

Exam # 2 on chapters 10 – 12

VII. Budgeting Expenses [Chapter 13]

A. Action Traits of Expenses
B. Variable, Fixed and Semi-variable Expenses
C. Strategies for Budgeting
D. High-Low Method
E. Regression Analysis
F. Break even Analysis
G. Contribution Margin
H. Profit Target

VIII. Forecasting Sales [Chapter 14]

A. Revenue Elements
B. Increasing Prices

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 C. Moving Averages, Percentage Method, Statistical Models
D. Calculating Average Room Rate
E. Hubbart Formula
F. CVP and Sales Mix
Exam # 3 on Chapters 13 & 14

IX. Budgetary Reporting & Analysis [Chapter 15]

A. Reasons for Budget
B. Operations Budget
C. Variances: Types, Calculations, Causes
D. Master Budget
E. Capital Budget

X. Financial Decision Making [Chapter 16]

A. Role of cost characteristics
B .Contributory Income
C. Off season Analysis
D. Qualitative and Quantitative Considerations
E. Acquiring a business
F. Covenant not to compete
G. Purchasing a business
H. Financing issues
I. Leasing assets

Exam # 4 on chapters 15 & 16

CUMULATIVE FINAL EXAM

REQIURED TEXT(S)/SOFTWARE: Accounting for Hospitality Managers;

Raymond Cote; American Hotel and Lodging Association; 5th Edition, 2006. Text and
Workbook.

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EVALUATIVE CRITERIA: There will be a quiz on each chapter covered. At
the end of the term, the lowest quiz grade will be dropped and the
rest will be averaged to equal one test grade. From the in class
exams listed above, the lowest [excluding the quiz average and the
mandatory final exam] will be dropped. To the remaining grades a
mini project grade will be added. All exams and the mini project
will have equal weight. There will be no makeup quizzes
or tests for any reason, no exceptions, because both
one quiz and one test grade are dropped. I do not accept
late assignments for any reason. If you miss class, you can email
me your assignment before the end of the scheduled class period
and I will accept it, or if you know in advance that you will miss
class you can have another student in class hand in the assignment
for you. These exams and the mini project will comprise 90% of
your course grade. The remaining 10% will be based on class
participation, which includes attendance in class and being
prepared when called upon. If you are not in class you cannot
participate and will lose those points from your final course
grade.

ATTENDANCE POLICY:
The purpose of the university’s Attendance Policy is to help students develop a self-directed,
professional attitude towards their studies during their university experience and to maximize
their educational opportunities. Regular class attendance provides fundamental educational value
and offers the most effective means for students to gain command of the concepts and materials
of their courses of study. Further, attendance allows for interaction in class discussions and
activities which are vital to a student’s own education and that of other students.

Regular class attendance is essential to student success. Accordingly, responsibility for class
attendance belongs to the student. Students are expected to attend all classes, to arrive on time
and remain for the entire class period, and to report to class fully prepared with textbooks and
other required materials. To meet these expectations, students must arrange course schedules that
minimize conflict with other commitments, including personal commitments, participation in
athletics, work, or other university sanctioned events.

For the purposes of financial aid and verification of enrollment, a student is considered enrolled
in the term if they are in attendance by the second class meeting or for online courses, by meeting
the first stated assignment. If students do not meet these criteria, they will be withdrawn without
academic penalty from the course (i.e., as never attended) and, when appropriate, issued a tuition
adjustment in accordance with the tuition and fees credit policy.

It is the student’s responsibility to notify Student Academic and Financial Services of any courses
that he/she wishes to drop from his/her schedule, as well as any intent to leave the university.
Discontinuing attendance or notifying an instructor does not constitute an official course or
university withdrawal.

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OUTCOMES ASSESSMENT:
Johnson & Wales University is committed to outcomes assessment. Faculty and students
are therefore part of an ongoing effort to determine and refine the effectiveness of
instruction and learning. Names of individual students will not be used when reporting
results.

SPECIAL NEEDS STUDENTS:

Johnson & Wales is dedicated to providing reasonable accommodations to give learning
disabled, physically challenged, and students with chronic medical conditions the
opportunity to succeed in their academic pursuits. Students requesting services must have
documentation on file with the Center for Academic Support and must request that the
accommodation information be sent to the faculty member.

TURN-IT-IN NOTIFICATION:
Students agree that by taking this course, required assignments may be subject to
submission to Turnitin.com for detection of plagiarism. All submitted papers will be
included as source documents in the Turnitin.com reference database solely for the
purpose of detecting plagiarism of such papers. Use of the Turnitin.com service is subject
to the Usage Policy posted on the Turnitin.com site.

ACADEMIC INTEGRITY:
If a student is found responsible for cheating, plagiarizing or in any way compromising
academic integrity, the student may be subject to both academic disciplinary action
(including dismissal from class) and student conduct review action (up to and including
dismissal from the university). For additional information refer to the Academic
Misconduct section of the current student handbook.

STUDENT EMAIL:
Each student at Johnson & Wales receives an email account and uses Microsoft Outlook
Web Access, a Web-based e-mail program that allows students to access their e-mail
through their web browsers. Students are required to use their Johnson & Wales
email account for all university-specific communication.

OCCUPANCY IN CLASS:
Occupancy in class is limited to faculty, officially registered students, aides authorized by
the Center for Academic Support, and invited guests approved by the vice president of
academic affairs or the dean of the respective school, college or campus. No grade will be
issued to any non-registered student in any course.

FOOD & BEVERAGES IN CLASS:

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In academic buildings, food and beverage consumption is limited to designated eating
areas only. Under no circumstances are food and beverages to be consumed in
classrooms.

MOBILE PHONES AND COMMUNICATION DEVICES IN CLASS:

Communication devices such as mobile telephones must be silenced (set to vibrate)
during class time. For safety purposes, including emergency communication, devices
such as mobile telephones may be left on during class time but disruptions to class due to
communication devices will not be tolerated. Mobile communication devices should not
be used during class time unless for emergency purposes.

ADDITIONAL POLICIES & PROCEDURES:

You are responsible for all material covered and announcements made during missed
classes, therefore you should plan to contact either another student in the class or me for
that information.

If you are unable to see me during scheduled office hours, please talk to me before or
after class

Testing Policies:

Once you have an exam in front of you, if you leave the room for any
reason you are done, so conduct all personal business before the exam
begins.

There will be no sharing of calculators during exams. Phones, personal organizers,

dictionaries, etc. cannot be used during exams [no exceptions for any reason].

All exams and quizzes are done in pencil.

PERFORMANCE TRANSCRIPT not applicable

HONORS OPTION not applicable

COMMUNITY SERVICE LEARNING not applicable

WRITING INTENSIVE COURSES not applicable

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 TENTATIVE COURSE SCHEDULE
Subject to change as appropriate

Week 1: Review of Chapter 7, Chapter 8 coverage in class, all textbook

problems, and workbook pages 67 & 69.
Week 2: Chapter 9 coverage in class, textbook problems 2, 3, 5, and 6 and
workbook pages 87-90 & 93-96.
Week 3: Test on chapters 7 – 9. Chapter 10 coverage in class, textbook problems 3
- 5, and workbook pages 104-109.
Week 4: In class review of chapter 11, textbook problems 6 and the case study, and
workbook pages 127-128 . Chapter 12 coverage in class. The
mini project comes from chapter 12.
Week 5: In class exam on chapters 10 – 12. Any necessary catch up time is built
into week 5.
Week 6: Chapter 13 in class coverage, all textbook problems, and workbook pages
148-159.
Week 7: Chapter 14 in class coverage, all textbook problems and workbook pages
165-174.
Week 8: Test on chapters 13 & 14. Chapter 15 in class coverage, all textbook
problems and workbook pages 177-183.
Week 9: Chapter 16 class coverage, all textbook problems, and workbook pages
187 & 191.
Week 10: Test on chapters 15 & 16.
Finish any topics as necessary.
Review for cumulative final exam in week 11.

Week 11: Cumulative Final Exam – Date to be announced.

Welcome to the Department of Accountancy!

We hope you enjoy your class this term.
In order to provide the best educational experience possible the Department of
Accountancy has certain policies that students are required to follow. Please familiarize
yourself with each of these. If you have any questions please contact your instructor or
Professor Viens (dviens@jwu.edu) the Department Chair.

1. Required Materials: Your required materials for this accounting course are the
designated textbook, a notebook, a pen and/or pencil, software (where required) and a
calculator. Unless otherwise directed by your instructor you must bring each of these to
class for each class meeting. Your instructor has the option of dismissing you from the
class and/or recording an absence for failure to have each required item.

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2. Attendance: The purpose of the university’s Attendance Policy is to help students
develop a self-directed, professional attitude towards their studies during their university
experience and to maximize their educational opportunities. Regular class attendance
provides fundamental educational value and offers the most effective means for students
to gain command of the concepts and materials of their courses of study. Further,
attendance allows for interaction in class discussions and activities which are vital to a
student’s own education and that of other students. Regular class attendance is
essential to student success.

Accordingly, responsibility for class attendance belongs to the student. Students are
expected to attend all classes, to arrive on time and remain for the entire class period,
and to report to class fully prepared with textbooks and other required materials. To
meet these expectations, students must arrange course schedules that minimize conflict
with other commitments, including personal commitments, participation in athletics,
work, or other university sanctioned events.

3. Cell Phones: Cell phones must be “silenced” during class and may not be used as
calculators. Your instructor has the option of dismissing you from class for the day and
recording an absence for failure to comply with either of the above.

4. Final Exams: Final exams are given at the last class meeting. If you are unsure of
the date check with your instructor. Please do not ask to take your final exam at a
different time as your request will be denied. There are no exceptions. If you cannot
take your final exam at the designated time you will receive an I (Incomplete) for the
course. You have two (2) weeks following the end of the term to take your final exam.
All students must take a final exam.

5. Privacy Act (FERPA): Each student at Johnson & Wales University is protected by
the Family Educational Rights and Privacy Act (FERPA). This Act states that faculty
members cannot speak to anyone, including parents, about a student’s educational
performance unless a release has been signed by the student. If you want your parent
or someone else to speak to your faculty member you must provide that faculty member
with written documentation. There are no exceptions.