General Information 

Professor Information

Instructor Profile Picture


Jing Zhang


C503, TUC Campus



+86 18411084193

Office Hours

Saturday 11:00-13:00, 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


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 : 


notes : 

A more updated edition of the textbook is acceptable.

Expectations of This Course

Students are expected to:

  • take the practice quiz to ensure that your computer is compatible with the learning management system, Canvas;
  • interact online with instructor and peers;
  • review and follow the course calendar and weekly outlines;
  • log in to the course twice per week;
  • respond to discussions by the due date specified. No late work will be accepted;
  • respond to emails within 2 days;
  • submit assignments by the corresponding deadline.

The instructor will:

  • log in to the course twice a week;
  • respond to discussion postings within 2 days of the deadline
  • respond to emails within 24 hours
  • grade assignments within 2 days of the assignment deadline.

Course Detail

Course Communication

Communication in this course takes place via the Canvas Inbox. Check out the Canvas Conversations Tutorialor Canvas Guide to learn how to communicate with your instructor and peers using Announcements, Discussions, and the Inbox. 

WeChat is used as a supplementary way of communication to deal with any emergency and to post reminders of deadlines. Group WeChat ID of this section has been sent to students through Canvas Inbox.

Online Study

Some students enrolled in this section are not able to come back to campus and are permitted by FIU to conduct online study throughout this semester. Students can join the weekly class meetings by using Tencent Meeting, a video conference tool which can be used to broadcast and record class meetings, to interact with the instructor and peers by sharing screens, chatting, broadcasting live video/audio, and to take part in other interactive online activities. 

Online class meetings are held during the same hours as the face-to-face class meetings. Meeting ID and password are as follows:

Meeting recordings will be posted on Canvas after each class. If a student encounters any technical difficulty to access the online meetings, he/she should contact the instructor immediately upon the issue occurring.

All the policies and requirements applicable to students studying in classroom are also applicable to students studying online. 

Attendance and Participation

  • Attendance and Participation account for 10 points or 10% of the final grade. 
  • Students are required to attend all the scheduled meetings on time. Late arrival or early leave leads to the deduction of one point. 
  • Each student is entitled to one personal day to deal with personal obligations. Taking the personal day does not affect the attendance points.  
  • Additional leave on top of the personal day requires the instructor’s approval. A written request should be sent to the instructor through Canvas Inbox either before the class or, in an emergency, within 24 hours after the class. The instructor reserves the right to request evidence from a third party to justify the declared reason for absence.
  • Each unexcused absence leads to the deduction of one point. Three unexcused absences lead to the deduction of one letter grade. 
  • Present or not, students are responsible for all the material covered and all information delivered in class.



  • Quizzes are aimed to help students digest the basic concepts and key topics explained in class. 
  • After each class meeting, students need to take a quiz on Canvas for the topics covered by the lecture. In total, 12 quizzes need to be completed by the end of the semester. 
  • Each quiz has 10 full points and a time limit which is specified on the quiz page. 
  • Each quiz allows for 2 attempts and only the higher score is recorded. 
  • Each quiz is published immediately after class and due by the beginning of the next class.
  • 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 total points for quizzes.

Group Project:

  • Group project is designed to solve a financial problem/analyze a financial situation and requires students to provide improving suggestions/future recommendations with knowledge and skills from this course 
  • Each student is assigned to a group of 3 or 4 students. Without the instructor's approval, students cannot change their group members.
  • Members of the same group need to work together on one problem set which is randomly selected from a pool of 6 problem sets, and to prepare a project deliverable which answers all the questions raised in the problem set. 
  • Each group need to submit both an electronic version (on Canvas) and a hard copy (in class) of the project deliverable before the last class meeting on December 3, 2022
  • This group assignment accounts for 10 points, or 10% of the final grade. Members of the same group receive the same points. 
  • Grading is based on (a) the correctness of calculation results and procedures (6 points), (b) the appropriateness of notations and explanations (2 points), and (c) the overall format (2 points).
  • Students are expected to actively participate in group discussions and complete their assigned tasks on time. A student who fails to be a team player will lose one point.


  • Two tests are administered on Canvas throughout the semester. Each test has a time limit of 75 minutes and accounts for 35 points – 35% of the final grade. 
  • Test 1 covers course materials from Chapter 1 to Chapter 5 - 5 chapters. Test 2 covers course materials of Chapter 6, 9, 10, 12 and 14 – also 5 chapters. Course materials include the textbook, lecture slides, in-class exercises, and quizzes.
  • Test questions include multiple-choice questions and true-or-false questions.
  • During the tests, students can use Microsoft Excel and financial calculators to solve quantitative problems. Students can also refer to any course material.  
  • During the tests, students are not allowed to use cell phones or any other communication device/software. Violation of this requirement is deemed as a cheating behavior.  
  • Correct answers are available on Canvas after the tests. Students can raise questions about test results within one week after the tests. 

Bonus Points

  • A maximum of 5 bonus points can be awarded to students who actively participate in class activities and provide suggestions and feedback on the course for continuous improvements. 
  • The instructor will post 4 discussion questions on Canvas throughout this semester. Students can answer the discussion questions on a voluntary basis. Each answer accounts for one bonus point. 
  • At the end of the semester, students are encouraged to complete the Student Perceptions of Teaching surveys (SPOTs) which is available on MyFIU ( If the response rate of each class section can reach 75% or higher by the date of Test 2, each student in the section can get one bonus point. 
  • The bonus points will be added to a student’s total points recorded in Canvas at the end of the semester. Thus, the final letter grade submitted to FIU will account for both the total points in Canvas and the bonus points earned by a student.


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

Course Requirements
Points Available
Test 1
Test 2
Group Project
Attendance and Participation

Grading Schema

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Course Calendar

Weekly Schedule

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


Date of Class

Course Introduction and SyllabusQuiz 1
Chapter 1
The Role of Managerial Finance
Chapter 2
The Financial Market Environment
Quiz 2
Chapter 3

Financial Statements and Ratio Analysis - 1

Quiz 3
Chapter 3
Financial Statements and Ratio Analysis - 2
Quiz 4
Chapter 4
Long- and Short-Term Financial Planning
Quiz 5
National-Day Holiday – No Class
Chapter 5

Time Value of Money - 1

Quiz 6
Chapter 5
Time Value of Money - 2
Quiz 7


Test 1 (Chapter 1, 2, 3, 4 & 5)
Chapter 6
Interest Rates and Bond Valuation - 1
Quiz 8
Chapter 6
Interest Rates and Bond Valuation – 2

Quiz 9

Group Project Assigned 

Chapter 9

The Cost of Capital

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