Management Accounting for the Hospitality Industry


    General Information

    Professor Information

    Professor Photo
    Prof. Terry M. Lease, Ph.D.
    By Appointment (but please use Canvas Inbox for class-related messages)

    Course Description And Purpose

    Advanced study of decision-making processes involved in the hospitality industry. Emphasis on budgeting, pricing decisions, cost-volume-profit analysis and capital budgeting.

    Course Objectives

    Students will be able to:

    • Apply CVP analysis to restaurants and hotels.
    • Become familiar with cost allocation, and the ways costs are allocated under the Uniform System of Accounts for Lodging (USAL).
    • Learn capital budgeting and the calculation of rates of return on hospitality industry investments.
    • Learn how hotels and restaurants can separate semi-variable expenses into their variable and fixed elements for pricing and budgeting purposes, as well as the use of contribution pricing in hospitality firms.
    • Understand how elasticity of demand affects volume of sales.
    • Understand how operating budgets are used in the hospitality industry, as well as the calculation of budget variances for restaurants and hotels.
    • Understand the function of various types of costs in management decision making in the hospitality industry.
    • Understand the three stages, and related procedures, for controlling food and beverage costs, and the use of standard price and cost variances in a restaurant.

    Teaching Methodology

    This is a fully online course in which all of the instructional materials and activities are delivered through Canvas, and/or other internet-based media. Some exams may require the use of an approved proctoring center or website. Should you have any questions, please contact the professor. All times and dates throughout the syllabus are stated in terms of the applicable time and date in Miami, Florida.  Students in other time zones need to adjust accordingly.

    It should go without saying that you need consistent access to a good internet connection in order to participate in an online course.  If you expect to have periods of a day or more without access to an internet connection, you should consider taking this course at another time or in a different delivery mode.

    Important Information

    Course Prerequisites

    This course has a prerequisite. Students must have successfully completed HFT 2401 (HFT 3403) or an equivalent course before attempting this class. 

    Review the Course Catalog webpage for prerequisites information.


    Textbook Image
    Horngren's Financial and Managerial Accounting, Student Value Edition
    Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
    Pearson, 6th Edition, 2017
    ISBN-10: 0134491556
    ISBN-13: 9780134491554
    You may purchase your textbook online at the FIU Bookstore.


    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.

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

    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.

    This course may utilize the following tools in addition to Canvas:

    1. MyAccoutingLab
    2. Microsoft Excel
    3. Microsoft Word

    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.

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

    Please visit the Canvas accessibility webpage for more information.

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

    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 to 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 Handbook.

    Academic Misconduct includes: Cheating – The unauthorized use of books, notes, aids, electronic sources; or assistance from another person with respect to examinations, course assignments, field service reports, class recitations; or the unauthorized possession of examination papers or course materials, whether originally authorized or not. Plagiarism – The use and appropriation of another’s work without any indication of the source and the representation of such work as the student’s own. Any student who fails to give credit for ideas, expressions or materials taken from another source, including internet sources, is responsible for plagiarism.

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

    Expectations of this Course

    This is an online course, which means most (if not all) of the course work will be conducted online. Expectations for performance in an online course are the same for a traditional course. In fact, online courses require a degree of self-motivation, self-discipline, and technology skills which can make these courses more demanding for some students.

    Students are expected to:

    • Review Getting Started information located in Module 0
    • Introduce yourself to the class during the first week by posting a self-introduction in the appropriate discussion forum
    • Review and follow the course calendar
    • Log in to the course at least  2-3 times per week
    • Log in to the course and check announcements at least once per day
    • Respond to emails and messages within 1 day
    • Submit assignments by the corresponding deadlines

    The instructor will:

    • Log in to the course at least once per business day
    • Respond to emails within 2 business days
    • Grade assignments within 1 week of the assignment deadline

    Course Detail

    Course Communication

    Communication in this course will take place within Canvas.

    Check out the Canvas Conversations Tutorial to learn how to communicate with your instructor and peers using Announcements, Discussions, and the Inbox.

    Quizzes and Exams

    Quiz Expectations:

    • A graded quiz is required for each learning module.
    • Quizzes are to be done individually.  Working together or sharing quizzes is a violation of FIU’s Student Code of Academic Integrity.
    • Quizzes will generally become available on Mondays at 8:00 am and will be due by Sunday at 11:59 pm.
    • Quiz duration will vary based on content from 20 minutes to 1 hour.
    • Quiz questions will be multiple choice, short answer, or problems and may require calculations.
    • You will have one opportunity to take each quiz.
    • Results for quizzes will become available several days after the due date. Students will not be able to view secure quiz questions.


    There will be two in-semester exams and a final exam. Missing an exam will result in a grade of zero. Make-up exams are not an option. Several comments about exams:

    1. Exam #1 will cover material from Chapters 16, 17, and 20
    2. Exam #2 will emphasize material from Chapters 21, 22, and 23.
    3. The Final Exam will emphasize material from Chapters 24, 25, and 26.
    4. By the nature of the material, the second and third exams will be somewhat cumulative.
    5. Question Types - Exams will include a variety of question types including multiple choice, short answer, and fill in the blank but will primarily be problems involving calculations.

    Preparation – As you go through this course you should be aware that simply memorizing formulas is not sufficient. Some of the concepts presented in this course build on each other so if you fall behind it may be difficult to catch up. Similarly, if you put off studying until the day before an exam and try to absorb it all in one cram session it may be difficult to develop a thorough understanding of the concepts. Instead you should keep up with the homework, quizzes, and other assignments and spread out your studying throughout the week including periodically reviewing the material from the prior chapters. Lastly, if you miss a problem on a quiz or a homework assignment it's critical that you go back and understand why.

    If you need assistance please contact FIU Online Support Services.


    Homework Expectations:

    • Homework (HW) will be completed and submitted via MyAccountingLab, which you will access through Canvas.
    • Homework assignments are to be submitted individually.  Working together on homework is allowed, but each student is responsible for his or her own answers.
    • Homework will generally be available two weeks before the due date.  You are encouraged to start working on it as early as possible.
    • You will be allowed multiple submissions.
    • Homework due dates will generally be extended upon request but not beyond the due date of the exam for that chapter, and the professor may decide not extend a deadline if multiple assignments are already in an extended deadline status.
    • Homework assignments will have no time limit and no limit on the number of times you may attempt each problem.  If you do not score 100% on your first attempt, you should consider these allowances as a chance for extra credit.

    Adobe Connect Pro Meeting

    Adobe Connect is an online meeting room where you can interact with your professor and fellow students by sharing screens, sharing files, chatting, broadcasting live audio, and taking part in other interactive online activities. Online meetings may be scheduled during this course. Students will be notified of any meetings via email. Participation in online meetings is NOT required. Further, if any meetings are scheduled during this semester they will be recorded for later playback by any students who were not able to participate at the designated meeting time.

    Requirements for using Adobe Connect:

    • Disable any window pop-up blocker.
    • Adobe Flash Player is required to successfully run your Adobe Connect meeting. You can test your computer to make sure your computer and network connections are properly configured to provide you with the best possible Adobe Connect meeting experience.
    • Use of a combination headset and microphone with USB connection is recommended to ensure quality sound and reduce technical difficulties.

      Reference Adobe Connect (Tutorials & Help) to learn about the tool, how to access your meeting rooms and recordings.


    Course Requirements Total Points Available Weight
    Homework 150 15%
    Quizzes 250 25%
    Exams (3 exams worth 200 points each) 600 60%
    Total 1000 100%
    Letter Range Letter Range Letter Range
    A 930 or above B 840 - 869 C 700 - 769
    A- 900 - 929 B- 801 - 839 D 600 - 699
    B+ 870 - 899 C+ 770 - 799 F < 600

    Course Calendar

    Weekly Schedule


    Tasks (Note: Any modifications to the schedule will be made only in the corresponding module in Canvas, which will supersede this schedule.)

    Week 1

    August 20 - 26

    Topic: Introduction to Management Accounting


    1. Register for Managerial Accounting for the Hospitality Industry (instructions in course)
    2. Complete Math Review in MyAccountingLab
    3. Review Chapter 16 Animated Lectures in MyAccountingLab
    4. Read Chapter 16
    5. Complete Chapter 16 HW in MyAccountingLab
    6. Complete Chapter 16 Quiz in MyAccountingLab

    Week 2

    August 27 - September 2

    (Aug. 27—deadline to add/drop courses.)

    Topic: Job Order Costing


    1. Review Chapter 17 Animated Lectures in MyAccountingLab
    2. Read Chapter 17
    3. Complete Chapter 17 HW in MyAccountingLab
    4. Complete Chapter 17 Quiz in MyAccountingLab

    Week 3

    September 3 - 9

    (Sept. 3—Labor Day, university closed)

    Topic: Cost-Volume Profit Analysis


    1. Review Chapter 20 Animated Lectures in MyAccountingLab
    2. Read Chapter 20
    3. Complete Chapter 20 HW in MyAccountingLab
    4. Complete Chapter 20 Quiz in MyAccountingLab

    Week 4

    September 10 - 16

    Topic: Cost-Volume Profit Analysis - Additional Work


    1. Complete Cost Volume Profit Analysis - Additional Problems HW in MyAccountingLab
    2. Complete Week 4 Quiz (includes material from Chapters 16, 17, and 20) in MyAccountingLab

    Week 5

    September 17 - 23

    Topic: Exam #1


    1. Exam #1 Due

    Week 6

    September 24 - 30

    Topic: Variable Costing


    1. Review Chapter 21 Animated Lectures in MyAccountingLab
    2. Read Chapter 21
    3. Complete Chapter 21 HW in MyAccountingLab
    4. Complete Chapter 21 Quiz in MyAccountingLab

    Week 7 

    October 1 - 7

    Topic: Master Budgets


    1. Review Chapter 22 Animated Lectures in MyAccountingLab
    2. Read Chapter 22
    3. Complete Chapter 22 HW in MyAccountingLab
    4. Complete Chapter 22 Quiz in MyAccountingLab

    Week 8

    October 8 - 14

    Topic: Flexible Budgets and Standard Cost Systems


    1. Review Chapter 23 Animated Lectures in MyAccountingLab
    2. Read Chapter 23
    3. Complete Chapter 23 (Flexible Budgets) HW in MyAccountingLab
    4. Complete Chapter 23 (Flexible Budgets) Quiz in MyAccountingLab

    Week 9

    October 15 - 21

    Topic: Flexible Budgets and Standard Cost Systems - Additional Work


         1. Review Chapter 23
         2. Complete Chapter 23 HW (Standard Costs) in MyAccountingLab
         3. Complete Chapter 23 Quiz (Standard Costs) in MyAccountingLab

    Week 10

    October 22 - 28

    Topic: Exam #2


    1. Exam #2 Due

    Week 11

    October 29 - November 4

    (Oct. 29—deadline to withdraw with DR/WI grade)

    Topic: Responsibility Accounting and Performance Evaluation


    1. Review Chapter 24 Animated Lectures in MyAccountingLab
    2. Read Chapter 24
    3. Complete Chapter 24 HW in MyAccountingLab
    4. Complete Chapter 24 Quiz in MyAccountingLab

    Week 12

    November 5 - 11

    (Nov 12—Veterans’ Day Observed, university closed)

    Topic: Short-Term Business Decisions


    1. Review Chapter 25 Animated Lectures in MyAccountingLab
    2. Read Chapter 25
    3. Complete Chapter 25 HW in MyAccountingLab

    Week 13

    November 12 - 18

    Topic: Short-Term Business Decisions (continued)


    1. Review Chapter 25 Animated Lectures in MyAccountingLab
    2. Review Chapter 25
    3. Complete Chapter 25 Quiz in MyAccountingLab

    Week 14

    November 19 - 25

    (Nov. 22 & 23—Thanksgiving holiday, university closed)

    Topic: Capital Investment Decisions


    1. Review Chapter 26 Animated Lectures in MyAccountingLab
    2. Read Chapter 26
    3. Complete Chapter 26 HW in MyAccountingLab
    4. Complete Chapter 26 Quiz in MyAccountingLab

    Week 15

    November 26 - December 2

    Topic: Capital Investment Decisions (continued)


    1. Review Chapter 26 Animated Lectures in MyAccountingLab
    2. Review Chapter 26
    3. Complete Chapter 26 Quiz in MyAccountingLab

    Week 16

    December 2 - 8

    Final Exam – Details to be announced

    Note: Finals Exam period officially ends on Saturday