IMPORTANT: Please be advised that the course outline being displayed is for a future dated term.
Information contained within this course outline, is subject to being changed prior to it being offered.
Units: 3
COURSE DESCRIPTION:
Managers make very important decisions that impact across many cross functional areas of a hospitality
business. In this course you will learn how to analyze financial statements from the perspective of creditors,
owners and managers. You will be able to use several methods to facilitate price setting decisions. You will use
the relationships between Cost, Price, and Volume to make decisions relative to purchasing, hiring, and
make/buy scenarios. You will also prepare and analyze operational budgets to make business decisions with
industry specific cases involving industry specific problems.
PLAR Eligible: Yes
Programs offering this course: Hospitality - Hotel and Restaurant Operations (P0415)
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1. Analyze given financial statements to make 1. Prepare an internal departmental income
business decisions from the perspective of statement categorizing expenses as direct, indirect
managers, owners and creditors. or fixed.
2. Analyze Comparative and Common size
statements.
3. Illustrate Average Sales, Costs and Income per
guest for Hotels and Restaurants.
4. Explain what creditors, owners and managers
are looking for in a Financial Statement.
5. Demonstrate Solvency, profitability and Activity
ratios in financial statements.
2. Illustrate pricing techniques applicable to the 1. Explain various pricing techniques used in the
Hospitality Industry. Hospitality industry.
2. Demonstrate taxes as a concept of Net Income
After Tax.
3. Explain the ‘bottom up’ pricing procedure in
Hotels and Restaurants.
4. Develop room rates for an accommodation
property.
5. Explain a ‘Menu Engineering’ technique.
3. Synthesize the relationship between Price, 1. Define types of cost for a hotel and restaurant.
Cost and Volume in making decisions related to 2. Illustrate a decision using Relevant, Fixed &
managerial operations of the Hospitality Industry. Variable Cost.
3. Explain the Cost, Volume Price Relationship in
decision making techniques.
4. Recommend decisions using CVP in a
multi-faceted operation.
4. Analyze operational budgets in making 1. Demonstrate the need for Budgeting.
business decisions for the Hospitality Industry. 2. Prepare an Operational Budget.
3. Prepare a Cash Flow Budget.
4. Determine Borrowing needs from a Cash Flow
Budget.
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Passing Grade Satisfy Promotion - Level Graduation
(units earned) Pre-requisite to Level or Year
to Year
Ontario College 50.00% 50.00% 60.00% GPA and = or 60.00% GPA and = or >
Diploma > 50.00% in all 50.00% in all courses
courses
Niagara College believes in an inclusive educational environment. Please review College Practices to view the
College's Statement of Accommodation for Students with Identified Special Needs.
http://www.niagaracollege.ca/practices
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