1. Accounting Principles and Practice:
The purpose of this unit is to introduce accounting concepts and skills to enable students to interpret financial reports and apply budgeting processes.
- The Basic Accounting Concepts
- Accounts and the Accounting Equation
- End of Period Adjustments
- The Profit and Loss Statement
- The Balance Sheet
- Interpretation of Financial Statements
- Budgeting and Cost Control
2. Hospitality Financial Management:
- Review of Basic Concepts and Terminologies
- Cash Budgeting
- Cost-Volume-Profit Analysis
- The Investment Decision - Project Analysis Using Net Present Value
- Internal Control and Cash Handling Procedures
- Computers in the Hotel and Restaurant Business Sector
- Risk Management, Ethics and Sustainability
- Financial Ratio Analysis
- The Financial Plan Section of a Business Plan
3. Hospitality Business Law:
The purpose of this unit is to provide an overview of the legal system as a framework for the comprehension of legal obligations and responsibilities, tenders and service contracts, and common business situations that involve legal issues.
- Introduction to the Australian Legal System
- Contract Law
- Negligence, Civil Liability Legislation and Insurance
- Innkeepers’ Doctrine and Liquor Licensing Law
- Employment Law
- Work Health and Safety (WHS) and Workers Compensation
- Discrimination Laws, Workplace Bullying and Harassment
- Part 1: Consumer Protection and Unfair Business Practices
- Part 2: Consumer Protection and Restrictive Trade Practices
- Business Structures and Principles of Agency he Role of Event Management
4. Economics Principles:
- Introduction to Economics
- How Markets Operate
- Market Structure
- Introduction to Macroeconomics
- Economic Management Monetary and Fiscal Policy
- Economics for Hospitality
- Sustainability and Economics
