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Finance Management in Tourism and Hospitality (OTHM/05/05-L5DTHM)
Qualification Number: 601/5661/2
Credit Value: 20
Unit Reference Number : D/507/0027
Unit Aims :
This unit provides learners with an understanding of the fundamental principles of financial accounting and financial management in the tourism and hospitality industry. Learners will develop the ability to apply these principles to the work of managers in the tourism and hospitality environment. This unit should be studied within the contexts of local, national and international legal frameworks and good practice relating to finance.
Assessment Criteria: Finance Management in Tourism and Hospitality (OTHM/05/05-L5DTHM)
1. Explain the principles of accounting in tourism and hospitality businesses
2. Describe the principles and documents involved in financial transactions
3. Explain how a trial balance and adjustments are used to prepare a statement of comprehensive income and a statement of financial
4. Justify how an organisation should manage its working capital and the process of revenue
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