Syllabus

Management Accounting for the Hospitality Industry

1195-FIU01-HFT-4474-SECRVCC-53237

    General Information

    Professor Information

    Professor Photo
    Prof. Terry M. Lease, Ph.D.
    305.919.4406
    By Appointment
    tlease@fiu.edu (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 class announcements come through Canvas as the need arises. You need to be sure that you see these announcements in a timely manner, whether you look at Canvas on a daily (or more frequent) basis or set up Canvas to send announcements to an email address that you monitor.

    Important Information

    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.

    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

    MyLab will run through Canvas.  You must go into MyLab through Canvas to register for the course. You cannot go directly into MyLab and register with a course number.  See the information in Module 0 for more details. 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 ("MyLab")
    2. Microsoft Excel
    3. Microsoft Word
    4. Zoom Video Conference Tool

    MyLab will run through Canvas.  You must go into MyLab through Canvas to register for the course. You cannot go directly into MyLab and register with a course number.  See the information in Module 0 for more details.

    Please visit our Technical Requirements webpage for additional information.

    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.

    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.

    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.

    Textbook

    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.

    Note: You will need to purchase access to Pearson's MyAccountingLab either with the textbook or separately from Pearson.

    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 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

    Important class announcements come through Canvas as the need arises. You need to be sure that you see these announcements in a timely manner, whether you look at Canvas on a daily (or more frequent) basis or set up Canvas to send announcements to an email address that you monitor.

    This course makes extensive use of Pearson's MyAccountingLab. You will need to purchase access to Pearson's MyAccountingLab ("MyLab") either with the textbook or separately from Pearson. You need to register for MyLab and access it through the Canvas course.

    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.

    Important class announcements come through Canvas as the need arises. You need to be sure that you see these announcements in a timely manner, whether you look at Canvas on a daily (or more frequent) basis or set up Canvas to send announcements to an email address that you monitor.

    Quizzes and Exams

    Quiz Expectations:

    • A graded quiz is required for each learning module.
    • Quizzes are administered through MyLab, which must be reached through the Canvas course.
    • 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 or before Mondays at 8:00 am and will be due by Sunday at 11:59 pm.
    • Quiz duration will vary based on content and generally be between 20 minutes and 1 hour.
    • Quiz questions will be multiple choice, short answer, or problems and may require calculations.
    • You will have two opportunities to take most quizzes. The highest grade will count.
    • Results (score and questions missed, partially missed, or correct) for quizzes will become available immediately after submitting the quiz. Students will not be able to review quiz questions until after the due date.

    Exams:

    There will be two in-semester exams and a final exam. Missing an exam will result in a grade of zero. A make-up exam is an option only in extreme circumstances, at the instructor's discretion. Several comments about exams:

    1. Exams are administered through MyLab, which must be reached through the Canvas course. I strongly suggest you work the exam directly through MyLab rather than through the Assignments section of Canvas.
    2. Exam #1 will cover material from Chapters 16, 17, and 20
    3. Exam #2 will emphasize material from Chapters 21, 22, and 23.
    4. The Final Exam will emphasize material from Chapters 24, 25, and 26.
    5. By the nature of the material, the second and third exams will be somewhat cumulative.
    6. 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.
    7. Question Values - Individual questions/problems on the exam may have different point values assigned to them. Pay attention to the point value of questions when allocating time to them.

    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.

    Discussion Forums

    Keep in mind that your discussion forum postings will likely be seen by other members of the course. Care should be taken when determining what to post.

    Assignments

    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.

    Assessments

    In order to mitigate any issues with your computer and online assessments, it is very important that you take the "Practice Quiz" from each computer you will be using to take your graded quizzes and exams. It is your responsibility to make sure your computer meets the minimum hardware requirements.

    All assessments will auto-submit when (1) the timer runs out OR (2) the closing date/time is reached, whichever happens first. For example, if a quiz has a closing time of 5:00 pm but the student begins the exam at 4:55 pm, the student will only have 5 minutes to complete the quiz.

    Assessments in this course are not compatible with mobile devices and should not be taken through a mobile phone or a tablet. If you need further assistance please contact FIU Online Support Services.

    Zoom Video Conference Tool

    Zoom is a video conference tool that you can use to interact with your professor and fellow students by sharing screens, chatting, broadcasting live video/audio, and taking part in other interactive online activities. We will be utilizing this tool to conduct 

    Reference the links below to access Zoom student tutorials to learn about the tool, how to access your meeting room, and share your screen.

    Review the System Requirements for PC, Mac, and Linux.

    Grading

    Course Requirements Total Points Available Weight
    Homework 150 15%
    Quizzes 250 25%
    Exams (3 exams worth 200 points each) 600 60%
    Total 1000 100%
    Note: Grades are based on total points earned, not percentage scores.    
    Letter Range Letter Range Letter
    A 930 or above B 840 - 869 C
    A- 900 - 929 B- 801 - 839 D
    B+ 870 - 899 C+ 770 - 799 F