An Introduction to Finance and Cashier Management in Hospitality

Module Description

This is an introductory module on financial and management accounting and it provides students with the required financial knowledge of hospitality organisations.

Students will learn how to read and analyse financial statements and understand basic techniques to manage costs and capital investment decisions.   

The module will emphasise on various aspects of financial management which involve: Time value of money, discounted cash flow analysis, capital budgeting, and net present value calculations. 

Entry Requirements

Candidates who apply for this course must possess:

• A qualification at MQF Level 4 (one ‘A’ Level or equivalent in any subject) and a pass in English Language* and Mathematics at MQF Level 3 (‘O’ Level or equivalent).

In the case of students who do not possess all the formal required academic qualifications, then the Recognition of Prior Learning (RPL) process could be applied such that if evidence of equivalent learning is found then the applicant could still be accepted on the course. Such RPL process will subject applicants to an interview held with a board of experts within the field, chosen specifically by IDEA College, so as to verify their experiences and prior learning.

Evidence may include:

• A detailed CV outlining relevant work experience and responsibilities.
• Employer reference letters outlining job role, duration, and key competencies.
• Related documentation demonstrating relevant skills (e.g. work portfolio).

IDEA College’s RPL Policy: https://mt.ideaeducation.com/app/uploads/2024/07/Doc_007_24-Recognition-of-Prior-Learning-Policy-and-Process.pdf

*Students whose first language is not English and do not possess an ‘O’ level pass in English Language will be required to demonstrate English language capability at IELTS level 6.0 or equivalent.

Target Audience

The programme targets the following groups:

• Individuals seeking to advance their academic and professional knowledge in the Tourism and Hospitality Management.
• Individuals wanting to pursue a wide range of career paths in the tourism and hospitality industry.

Career Paths

The potential positions for which this programme aims to prepare could be and are not limited to: –

• Travel consultant.
• Operations manager.
• Event organiser/planner/manager.
• Business Development executive.
• Hotel manager.
• Travel agency manager.
• Marketing executive.
• Tour operator.

How you’ll be assessed

The course comprises:

• Evening classes for part-time courses.
• Classes held throughout the day for full-time courses.
• Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
• Self-study hours comprising research, reading and assignment work.

Assessment

Assessment is carried out via two mandatory components:

• Formative Assessment
• Summative Assessment

The programme includes different forms of assessment which allow for and promote students’ critical engagement. The formative and summative assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.