Financial Management (Taken all of Mod 6)

Course Description and Rationale

The purpose of this class is for students to understand hospitality management from the perspective of the financials. The class will use the library hospitality data bases, Restaurant Start Up and & Growth Magazine, RestaurantOwner.com website, Nations Restaurant News and Management by Menu as class resources. Using a restaurant income statement as the basis for the class, we will explore ways to manage revenue and expenses, adding systems, methods and procedures to our “toolbox” each week. The ultimate goal is to develop the ability to manage a restaurant’s finances through utilization and integration of a range of metrics and key operating checkpoints. This will require an understanding of basic math and performing various calculations using formulas.

Students will be expected to complete all readings and homework assignments before coming to class. Readings, assignments and discussion will create an opportunity whereby financial information will be presented in the context of this industry. Case studies and current events will be used to further exemplify key ideas. The use of industry terminology will be an important goal of the course. There is an expectation that the student will be on time, prepared and participate in class in discussions. Students will also be evaluated on the professionalism rubric included in all BA classes.

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