General Information

Professor Information

Instructor Profile Picture


Jing Zhang


C503, TUC Campus


Office Hours

Saturday 13:00-14:00, or by appointment

Turn Around Time

Within 24 hours

Course Description and Purpose

This course facilitates students’ understanding and use of financial analysis in the hospitality industry. Topics include decision-making based on ratio analysis, leverage, financing sources and other financial issues.

Course Objectives

The objectives of this course are to:

  • Use financial and managerial reports to judge managerial performance;
  • Understand the time value of money concepts and how these are used in investment analysis;
  • Learn how to finance the firm;
  • Develop decision-making models for analyzing investment projects;
  • Develop appropriate growth strategies for the firm; and
  • Understand general valuation methods for publicly traded and privately held firms.

Learning Outcomes

At the end of this course, students should be able to do the following:

  • Assess the past financial performance by analyzing financial statements. 
  • Transform accounting data into financial ratios.
  • Create monthly cash budgets based on cash inflows and outflows.
  • Compute present values and future values of single payments and annuities.
  • Describe different methods of debt and equity financing.
  • Appraise new projects using NPV, IRR and MIRR methods.
  • Explain the significance of investment decision-making in the long term.
  • Explain the importance of managing short-term assets and liabilities.

Important Information

FIU Policies

Please review the FIU's Policies webpage. The policies webpage contains essential information regarding guidelines relevant to all courses at FIU, as well as additional information about acceptable netiquette for online courses. For additional information, please visit FIU's Policy and Procedure Library.

As a member of the FIU community you are expected to be knowledgeable about the behavioral expectations set forth in the FIU Student Conduct and Honor Code.

Technical Requirements and Skills

One of the greatest barriers to taking an online course is a lack of basic computer literacy. By computer literacy, we mean being able to manage and organize computer files efficiently and learning to use your computer's operating system and software quickly and easily. Keep in mind that this is not a computer literacy course, but students enrolled in online courses are expected to have moderate proficiency using a computer. Please go to the What's Required webpage to find out more information on this subject.

Privacy Policy Statements for Partners and Vendors

Please visit our Technical Requirements webpage for additional information.

Accessibility and Accommodation

The Disability Resource Center collaborates with students, faculty, staff, and community members to create diverse learning environments that are usable, equitable, inclusive, and sustainable. The DRC provides FIU students with disabilities the necessary support to successfully complete their education and participate in activities available to all students. If you have a diagnosed disability and plan to utilize academic accommodations, please contact the Center at 305-348-3532 or visit them at the Graham Center GC 190.

For additional assistance please contact FIU's Disability Resource Center.

Web Accessibility Statements for Partners and Vendors 

Please visit our ADA Compliance webpage for additional information about accessibility involving the tools used in this course.

Academic Misconduct Statement

Florida International University is a community dedicated to generating and imparting knowledge through excellent teaching and research, the rigorous and respectful exchange of ideas, and community service. All students should respect the right of others to have an equitable opportunity to learn and honestly demonstrate the quality of their learning. Therefore, all students are expected to adhere to a standard of academic conduct, which demonstrates respect for themselves, their fellow students, and the educational mission of the University. All students are deemed by the University to understand that if they are found responsible for academic misconduct, they will be subject to the Academic Misconduct procedures and sanctions, as outlined in the Student Conduct and Honor Code. Academic Misconduct includes:


  • The unauthorized use of any materials, information, study aids or assistance from another person on any academic assignment or exercise, unless explicitly authorized by the course Instructor; 
  • Assisting another student in the unauthorized use of any materials, information, study aids, unless explicitly authorized by the Instructor; and 
  • Having a substitute complete any academic assignment or completing an academic assignment for someone else, either paid or unpaid; and


  • The deliberate use and appropriation of another are work without any indication of the source and the representation of such work as the Student's own.
  • Assisting another student in the deliberate use and appropriation of another’s work without any indication of the source and the representation of such work as the student’s own. 

Learn more about the academic integrity policies and procedures as well as student resources that can help you prepare for a successful semester.

Panthers Care & Counseling and Psychological Services (CAPS)

If you are looking for help for yourself or a fellow classmate, Panthers Care encourages you to express any concerns you may come across as it relates to any personal behavior concerns or worries you have, for the classmate’s well-being or yours; you are encouraged to share your concerns with FIU’s Panthers Care website.

Counseling and Psychological Services (CAPS) offers free and confidential help for anxiety, depression, stress, and other concerns that life brings. Professional counselors are available for same-day appointments. Don’t wait to call (305) 348-2277 to set up a time to talk or visit the online self-help portal.

Inclusivity Statement

This course will serve to embrace the diversity and inclusivity found within Florida International University. We appreciate and respect diversity, equality, equity, cooperativeness, community, and sustainability within our online courses. We are committed to the ongoing education of our students and their participation within the course regardless of gender, ethnicity, age, sexual orientation, geographical location, religion, and disability. We strive in encouraging collaboration by preparing our students to value the differences in others. At the core of our intentions is the encouragement of acceptance and appreciation of differences within our student population and community.

Copyright Statement

The following conduct is prohibited by the Student Conduct and Honor Code. Lack of familiarity with University policy is not a defense to a violation of this Code. Unless specifically noted, the intent is not a required element to establish a policy violation. The following conduct violation or any attempt to violate the Code will be used in charging all Students or Student Organizations;

Section 5 | Conduct Violations - g. Computer Misuse

  • vii. Unauthorized distribution or downloading of copyrighted materials, including but not limited to, unauthorized peer-to-peer file sharing. This is a violation whether the user is using their own personal computer or the University’s information technology system for unauthorized distributions.

Copyright Statement: The materials and content in this online course are provided solely for student use during the course. Course materials may not be shared outside of the course or with any third party without the explicit permission of the instructor or content publisher. Visit FIU Library’s Copyright Lib Guide to learn more about copyright law and restrictions.

Additional Resources:

Course Prerequisites

This course has a prerequisite - HFT 2401 Accounting for the Hospitality Industry. Review the Course Catalog. webpage for prerequisites information.

Textbook and Course Materials

Principles of Managerial Finance, 8th edition (Required)
title : 

Principles of Managerial Finance, 8th edition (Required)

authors : 

Chad J. Zutter, Scott B. Smart

publisher : 


isbn 10 : 


isbn 13 : 


You may purchase the textbook online at the FIU Bookstore.

Class Policies

Attendance and Participation Policies

  • Students are required to attend all the scheduled sessions (both online and face-to-face) on time. If a student is absent from class without notifying the instructor, each class he/she misses results in the deduction of 1 point.
  • To get the instructor’s leave approval, students need to send a written request to the instructor through Canvas Inbox either before the class or, in an emergency, within 24 hours after the class. In the written request, a student needs to specify his/her full name, the date of absence and the reason for absence. The instructor reserves the right to request evidence from a third party to justify the declared reason for absence.
  • Throughout the semester, each student is entitled to 1 personal day which is intended to meet any personal obligations. Taking the personal day does not affect the attendance and participation points yet it still requires the instructor’s approval. 
  • Each student can earn a maximum of 5 bonus points if he/she can voluntarily answer the instructor’s questions or demonstrates solutions to in-class exercises. Each answer/demonstration adds 1 point to the student’s final grade. 

Assignment Polices

All assignments are due at the beginning of class. Late submissions are NOT acceptable. There is no bonus assignment for this course. Unless otherwise stated, all assignments must be independent work. 

Use of Technology

Students may bring their laptops/tablets for computations and note-taking. Students are expected to only use them for purposes as appropriate for the class. Lecture slides are posted on Canvas before each class meeting. Thus, students should focus on lectures rather than copying slides in class. Students are strongly recommended to refresh their basic knowledge of Microsoft Excel. 

Make-up Examinations

Make-up examinations will only be given in extreme situations that involve a student or his/her immediate family. Proper written       documentation is required. Students are required to advise the instructor of absences in writing before the scheduled exam dates.

Course Details

Course Communication

All communication of this course takes place via Canvas Inbox and WeChat. Check out the Canvas Conversations Tutorial or Canvas Guide to learn how to communicate with your instructor and peers using Announcements, Discussions, and the Inbox. I will respond to all correspondences within 24 hours.



  • Quizzes are aimed to help students digest the basic concepts and key topics explained in class. 
  • Each week, students need to take a quiz for the topics that have been covered by the lecture. In total, 12 quizzes need to be completed on Canvas throughout the semester. 
  • Each quiz has a total of 10 points and a time limit which is specified on the quiz page. 
  • Each quiz allows for 2 attempts and only the higher quiz score will be recorded. 
  • The lowest quiz score will NOT be considered when calculating the final grade. The average of the remaining 11 scores will be a student’s final points for quizzes.
  • Each quiz is published immediately after class and due by the beginning of the next class. 


  • The project assignment is designed to solve a financial problem/analyze a financial situation and requires students provide improving suggestions/future recommendations with knowledge and skills from this class. 
  • Each student is assigned to work on 1 problem set which is randomly selected from a pool of 6 problem sets. Without the instructor's approval, students cannot change their problem sets .
  • To answer the questions raised in the problem set, students need to apply their knowledge and skills learned from Chapter 3, 4, 5, 6, 9 and 10. 
  • Each student needs to prepare a project deliverable which meets the following format requirements:
    • 12-font Times New Roman
    • Single-spaced
    • Standard margins
    • Stapled if the hard copy has more than one page
  • Students are required to submit both an electronic version (on Canvas) and a hard copy (in class) of the project deliverable by 2:15pm on April 30, 2022. 
  • Project deliverable is graded based on (1) the correctness of calculation results and procedures (6 points), (2) the appropriateness of notations and explanations (2 points), and (3) the overall format (2 points).


Two tests are administered on Canvas throughout the semester. Each test has a time limit and a total of 35 points. 

Test 1 covers teaching materials from Chapter 1 to Chapter 5 (5 chapters). Test 2 covers teaching materials of Chapter 6, 9, 10, 12 and 14 (5 chapters). Test questions include multiple-choice questions and true-or-false questions. 

During the tests, students are allowed to bring one piece of paper (of A4 size) with equations and functions from the textbook and lecture slides. Students can use Microsoft Excel on their laptops/tablets and financial calculators for solving quantitative problems. The use of other computer functions or communication devices (i.e. cell phones) is prohibited. 

Correct answers will be published on Canvas after the tests. Students can raise questions about test results within one week after the test dates. 


Grading is based on (1) attendance and participation, (2) assignments, and (3) tests.  The grading system is as follows:

Course Requirements
Total Points Available
Test 1
Test 2
Attendance and Participation

Grading Schema

Name From To
< 95%
< 90%
< 87%
< 83%
< 80%
< 77%
< 70%
< 60%

Course Calendar

Weekly Schedule

This is a tentative course outline/schedule and is subject to adjustment.

Date of Class
Course Introduction and Syllabus
The Role of Managerial Finance
Chapter 1
Quiz 1

The Financial Market Environment

Chapter 2

Quiz 2
Financial Statement and Ratio Analysis - 1
Chapter 3
Quiz 3
No Class
Chinese New Year

No Class
Chinese New Year

Financial Statement and Ratio Analysis - 2
Chapter 3
Quiz 4
Project Assigned

Long- and Short-term Financial Planning

Chapter 4

Quiz 5

Time Value of Money - 1

Chapter 5

Quiz 6
Time Value of Money - 2

Chapter 5

Quiz 7
Test 1 (Chapter 1, 2, 3, 4 & 5)

Interest Rates and Bond Valuation - 1
Chapter 6
Quiz 8

Interest Rates and Bond Valuation - 2 

Chapter 6
Quiz 9
The Cost of Capital
Chapter 9
Quiz 10
Capital Budgeting Techniques

Chapter 10

Quiz 11
Working Capital and Current Assets Management
Chapter 14
Project Due
Test 2 (Chapter 6, 9, 10, 12 & 14)