Management Accounting and Cost Control (HOSP 2114)
This course uses a decision-making approach to prepare students to be skilled managers in the hospitality industry. The course includes a variety of workplace financial problems and a running theme of strategic management to help students relate management accounting decisions to a company’s success. Course topics will include: analyzing financial data of hotels and restaurant operations, measuring F&B cost and their selling prices, cost-volume-profit analysis, optimizing sales and revenues, internal control, budgeting, capital investment and ethical decision making.
Course code: HOSP 2114
Credits: 3.0
Length: 45.0 hours
Course outline:
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https://www.vcc.ca/vccphp/courseoutline?subject=HOSP&number=2114
| CRN # | Dates | Day/Time/Location | Instructor |
|---|---|---|---|
| 42335 | January 6, 2025 to April 25, 2025 | See full schedule Delivery: In Person Location: VCC Downtown Campus | Khayambashi, Hassan |
| 42347 | January 6, 2025 to April 25, 2025 | See full schedule Delivery: In Person Location: VCC Downtown Campus | Khayambashi, Hassan |
| 42339 | January 6, 2025 to April 25, 2025 | See full schedule Delivery: In Person Location: VCC Downtown Campus | Khayambashi, Hassan |
| 42343 | January 6, 2025 to April 25, 2025 | See full schedule Delivery: In Person Location: VCC Downtown Campus | Khayambashi, Hassan |
| 61973 | May 5, 2025 to August 15, 2025 | See full schedule Delivery: In Person Location: VCC Downtown Campus | Dixon, Gill |
| 61977 | May 5, 2025 to August 15, 2025 | See full schedule Delivery: In Person Location: VCC Downtown Campus | Ashktorab, Niloofar |
| 61975 | May 5, 2025 to August 15, 2025 | See full schedule Delivery: In Person Location: VCC Downtown Campus | Dixon, Gill |
| 61976 | May 5, 2025 to August 15, 2025 | See full schedule Delivery: In Person Location: VCC Downtown Campus | Ashktorab, Niloofar |
| 61978 | May 5, 2025 to August 15, 2025 | See full schedule Delivery: In Person Location: VCC Downtown Campus | Ashktorab, Niloofar |
Additional Information
- The differences between management accounting and financial accounting, the importance of management accounting in hospitality operations, standards of Competence, Confidentiality, Integrity, and Credibility in management accounting.
- Analyzing income statement and balance sheet by focusing on hotels and restaurants operations. Using horizontal, vertical, and ratio analysis.
- Cost concepts: cost objects, types of costs, cost in restaurants, costs in hotels, direct and indirect cost, variable and fixed costs, mixed costs.
- Food and beverage costing
- Cost-Volume-Profit analysis
- Revenue and Profit optimization
- Internal Control
- Different methods of pricing rooms for hotels.
- Budgeting; Sales budget, purchase budget, income statement budget, capital budget, cash budget. decision making based on the comparison of budgeted numbers to actual numbers.
- Capital Investment; return on investment (ROI), accounting rate of return (ARR), pay back method, net present value (NPV) of investment.
- Ethical Decision Making
Completion of a standardized test with a passing grade.
† This information is intended as a guideline only. Program and course details are subject to change with the approval of VCC's Board of Governors.