Course Syllabus

HFT 3431 – 0W61

Hospitality Industry Managerial Accounting                                                        SPRING 2022

 

Professor

 

Name:                                   Elizabeth A. Yost, Ph.D., CHAE

Office:                                  RCHM 237      

Office Phone:                        (407) 903-8216

Email:                                   Elizabeth.Yost@ucf.edu

 

Class Details:

 

Semester Dates:                    January 10, 2022 to May 3, 2022

Class Credit Hours:              3 Credit Hours

Class Meeting Location:       N/A – web modality     

Class Meeting Days:             N/A – web modality

Class Meeting Hours:           N/A – web modality

Office Hours:                        Monday, Tuesday and Wednesday, 10 AM – 12 PM

                                            

 

Professor’s Welcome Message:

 

Dear Students,

 

Welcome to the Spring 2022 Semester and to HFT 3431 – Hospitality Industry Managerial Accounting!  It is my goal this semester to provide you with a basic understanding of managerial accounting principles in order to help you be successful in the “real world” after you graduate.  I’m excited to create a memorable learning experience for you and to also share my experiences in order to help guide you in your career choices.  It is my belief that a fundamental understanding of financial and managerial concepts is the key to success in any career or job path.  Therefore, it is my hope that you will be able to use the concepts from this class in your future employment and beyond.  

 

I’m looking forward to meeting all of you!

 

Sincerely,

 

Elizabeth Yost, Ph.D., CHAE

 

 

 

 

 

 

 

 

Course Description, Overview, Information, and Outcomes:

 

University Course Catalog Description & Course Overview (HFT 3431 – 3(3,0)):

 

This course is designed to acquaint the student with the working knowledge of the presentation, interpretation, and analysis of internal and external hospitality industry financial reports affecting management decisions using hospitality industry systems of accounting.

        

Course Information:

 

• Course Format/Structure: This course will be delivered entirely online through the course management system

Webcourses@UCF. You will use your Webcourses@UCF account to login to the course from myUCF Portal (https://my.ucf.edu). In Webcourses@UCF, (Modules tab) you will access course materials, and resources. Students need to access Webcourses@UCF several times for several hours during the week to obtain all the content and updates related to the course.

 

• Course Prerequisites: ECO 2013 Macroeconomics or ECO 2023 Microeconomics, HFT 2401 Financial

Accounting, and MAC 1105 College Algebra. 

 

• Announcements &

     Class Communication:          Through Webcourses and KNIGHTS email system.

 

• Required Textbook:             Schmidgall, R. (2016). Hospitality Industry Managerial Accounting (8^th). Lansing, MI:

                                                    Educational Institute, American Hotel and Lodging Association.

 

• Class Materials:             Calculator with no data storage capabilities.

 

Expected Learning Outcomes (Course Objectives):

 

Upon completion of this course, you will be able to:

 

• Describe and identify the major users of managerial accounting and be able to discuss the differences between financial accounting concepts and managerial accounting concepts.
• Understand the basic cost management concepts and cost behavior for operational planning and control for the hospitality firms.
• Perform a breakeven structure and cost-volume-profit analysis in order to audit and control internal operations for hospitality firms.
• Analyze cost structure and approaches for asset pricing for hospitality corporations.
• State the purposes, contents, and limitations of the financial statements (The Balance Sheet, The Income Statement, and Statements of Cash Flow).
• Perform ratio analysis to interpret information reported in financial statements and understanding the firm performance based on financial reports.
• Interpret and analyze operational budget, describe the role of budgets, analyze variances of results, and interpret the basis of outputs for forecasting.
• Implement and examine various forecasting models with their limitations for the hospitality industry.

 

Evaluation & Grading Scale:

 

Your success in this class is dependent upon you level of commitment in the following areas: reading the related chapters or class notes, completing the Modules, and completing all online homework and exams.  Each student should have regular access to the internet and plan on logging into the course at least twice each week, or students should plan on at least five hours’ worth of homework outside of class each week. Please refer to the sections below for my class evaluation and grading criteria.

 

 

Homework (25%):

 

There will be scheduled homework assignments online (through Webcourses) which correlate with each Chapter we will cover.  You are responsible for submitting your homework on time before the 11:59 PM deadline. HWs are multiple choice questions or discussions. I will not re-open homeworks if you forget to submit.     

 

Exams (75%):

 

There are 3 exams (25% each) throughout the semester. All of the exams will be taken online through Webcourses, including the final exam. The submission date of the final exam will be posted in the course schedule. ProctorHub will be enabled to control the testing environment. Exams will not be cumulative, and they will cover the chapters you have studied until the test day (please see the course schedule & content). You will need your financial calculator, printed formula sheets, pen, pencil, eraser, and scratch paper. If you miss the deadline for submitting your exam, you will receive a zero.

 

Webcourses Assignment for Financial Aid (No credit):

As of the Fall of 2014, all students are required to document that you begin this course.  Please complete the assignment on Webcourses by the end of the first week of classes, or as soon as possible after adding the course, but no later than January 14, 2022.  Failure to do so will result in a delay in the disbursement of your financial aid. PLEASE DO IT ASAP!

 

Grading Weights & Grading Scale:

 

Homework	25%
Exam 1	25%
Exam 2	25%
Exam 3	25%
TOTAL	100%

** No round up will be applied to final grades**

94% through 100%  =  A	80% through 82.99%  =  B-	67% through  69.99%  =  D+
90% through 93.99%  =  A-	77% through 79.99%  =  C+	63% through  66.99%  =  D
87% through 89.99%  =  B+	73% through 76.99%  =  C	60% through  62.99%  =  D-
83% through 86.99%  =  B	70% through 72.99%  =  C-	Below 60% = F

 

Course Policies and Protocols:

 

COVID-19

To protect members of our community, everyone is required to wear a facial covering inside all common spaces, including classrooms (https://policies.ucf.edu/documents/PolicyEmergencyCOVIDReturnPolicy.pdf). Students who choose not to wear facial coverings will be asked to leave the classroom by the instructor. If they refuse to leave the classroom or put on a facial covering, they may be considered disruptive (please see the Golden Rule for student behavior expectations). Faculty have the right to cancel a class if the safety and well-being of class members are in jeopardy. Students will be responsible for the material that would have been covered in class, as provided by the instructor.

Depending on the course of the pandemic during the semester, the university may make changes to the way classes are offered. If that happens, please look for announcements or messages in Webcourses@UCF or Knights email about changes specific to this course.

COVID-19 and Illness Notification – Students who believe they may have a COVID-19 diagnosis should contact UCF Student Health Services (407-823-2509), so proper contact tracing procedures can take place.

Students should not come to campus if they are ill, are experiencing any symptoms of COVID-19, have tested positive for COVID, or if anyone living in their residence has tested positive or is sick with COVID-19 symptoms. CDC guidance for COVID-19 symptoms is located here: (https://www.cdc.gov/coronavirus/2019-ncov/symptoms-testing/symptoms.html)

Students should contact their instructor(s) as soon as possible if they miss class for any illness reason to discuss reasonable adjustments that might need to be made. When possible, students should contact their instructor(s) before missing class.

In Case of Faculty Illness

If the instructor falls ill during the semester, there may be changes to this course, including having a backup instructor take over the course. Please look for announcements or mail in Webcourses@UCF or Knights email for any alterations to this course.

 

Because of the continued remote instruction requirement due to the COVID-19 pandemic, this course will use Zoom for asynchronous (not real time) learning through posted videos.

Please take the time to familiarize yourself with Zoom by visiting the UCF Zoom Guides at <https://cdl.ucf.edu/support/webcourses/zoom/>. You may choose to use Zoom on your mobile device (phone or tablet).

Things to Know About Zoom:

• You must sign in to my Zoom session using your UCF NID and password.
• The Zoom sessions are pre-recorded.
• You can contact Webcourses@UCF Support at <https://cdl.ucf.edu/support/webcourses/> if you have any technical issues accessing Zoom.

Make-Up Exams and Assignments:

 

Per university policy, you are allowed to submit make-up work (or an equivalent, alternate assignment) for authorized university-sponsored activities, religious observances, or legal obligations (such as jury duty). If this participation conflicts with your course assignments, I will offer a reasonable opportunity for you to complete missed assignments and/or exams. The make-up assignment and grading scale will be equivalent to the missed assignment and its grading scale. In the case of an authorized university activity, it is your responsibility to show me a signed copy of the Program Verification Form for which you will be absent, prior to the class in which the absence occurs. In any of these cases, please contact me ahead of time to notify me of upcoming needs.

 

Devices & Technology Usage:

 

You are expected to use a laptop, notebook, tablet, iPad, and any instrument with computing power ability for the class assignments/problems, lecture notes, exams, homework, modules and/or other class activities.

 

Academic Integrity:

Students should familiarize themselves with UCF’s Rules of Conduct. According to Section 1, "Academic Misconduct," students are prohibited from engaging in:

• Unauthorized assistance: Using or attempting to use unauthorized materials, information or study aids in any academic exercise unless specifically authorized by the instructor of record. The unauthorized possession of examination or course-related material also constitutes cheating.
• Communication to another through written, visual, electronic, or oral means: The presentation of material which has not been studied or learned, but rather was obtained through someone else’s efforts and used as part of an examination, course assignment, or project.
• Commercial Use of Academic Material: Selling of course material to another person, student, and/or uploading course material to a third-party vendor without authorization or without the express written permission of the university and the instructor. Course materials include but are not limited to class notes, Instructor’s PowerPoints, course syllabi, tests, quizzes, labs, instruction sheets, homework, study guides, handouts, etc.
• Falsifying or misrepresentingthe student’s own academic work.
• Plagiarism: Using or appropriating another’s work without any indication of the source, thereby attempting to convey the impression that such work is the student’s own.
• Multiple Submissions: Submitting the same academic work for credit more than once without the express written permission of the instructor.
• Helping another violateacademic behavior standards.

For more information about Academic Integrity, students may consult The Center for Academic Integrity (Links to an external site.)Links to an external site.

For more information about plagiarism and misuse of sources, see “Defining and Avoiding Plagiarism: The WPA Statement on Best Practices (Links to an external site.)Links to an external site.”.

Responses to Academic Dishonesty, Plagiarism, or Cheating

Students should also familiarize themselves with the procedures for academic misconduct in UCF’s student handbook, The Golden Rule. UCF faculty members have a responsibility for students’ education and the value of a UCF degree, and so seek to prevent unethical behavior and when necessary respond to academic misconduct. Penalties can include a failing grade in an assignment or in the course, suspension or expulsion from the university, and/or a "Z Designation" on a student’s official transcript indicating academic dishonesty, where the final grade for this course will be preceded by the letter Z. For more information about the Z Designation, see http://goldenrule.sdes.ucf.edu/zgrade.

Course Accessibility Statement

The University of Central Florida is committed to providing access and inclusion for all persons with disabilities. Students with disabilities who need disability-related access in this course should contact the professor as soon as possible. Students should also connect with Student Accessibility Services (Ferrell Commons 185, sas@ucf.edu, phone (407) 823-2371). Through Student Accessibility Services, a Course Accessibility Letter may be created and sent to professors, which informs faculty of potential access and accommodations that might be reasonable. Determining reasonable access and accommodations requires consideration of the course design, course learning objectives and the individual academic and course barriers experienced by the student.

Campus Safety Statement

Emergencies on campus are rare, but if one should arise I n our class, everyone needs to work together. Students should be aware of the surroundings and familiar with some basic safety and security concepts.

• In case of an emergency, dial 911 for assistance.
• Every UCF classroom contains an emergency procedure guide posted on a wall near the door. Please make a note of the guide’s physical location and consider reviewing the online version at http://emergency.ucf.edu/emergency_guide.html. 
• Students should know the evacuation routes from each of their classrooms and have a plan for finding safety in case of an emergency.
• If there is a medical emergency during class, we may need to access a first aid kit or AED (Automated External Defibrillator). To learn where those items are located in this building, see http://www.ehs.ucf.edu/workplacesafety.html(click on link from menu on left). 
• To stay informed about emergency situations, sign up to receive UCF text alerts by going to ucf.eduand logging in. Click on "Student Self Service" located on the left side of the screen in the tool bar, scroll down to the blue "Personal Information" heading on your Student Center screen, click on "UCF Alert," fill out the information, including your e-mail address, cell phone number, and cell phone provider, click "Apply" to save the changes, and then click "OK."
• Students with special needs related to emergency situations should speak with their instructors outside of class.
• To learn about how to manage an active-shooter situation on campus or elsewhere, consider viewing this video. You CAN Survive an Active Shooter(Links to an external site.)Links to an external site.

Deployed Active Duty Military Students

If you are a deployed active duty military student and feel that you may need a special accommodation due to that unique status, please contact your instructor to discuss your circumstances.

Copyright

This course may contain copyright protected materials such as audio or video clips, images, text materials, etc. These items are being used with regard to the Fair Use doctrine in order to enhance the learning environment. Please do not copy, duplicate, download or distribute these items. The use of these materials is strictly reserved for this online classroom environment and your use only. All copyright materials are credited to the copyright holder.

Third-Party Software and FERPA

During this course you might have the opportunity to use public online services and/or software applications sometimes called third-party software such as a blog or wiki. While some of these could be required assignments, you need not make any personally identifying information on a public site. Do not post or provide any private information about yourself or your classmates. Where appropriate you may use a pseudonym or nickname. Some written assignments posted publicly may require personal reflection/comments, but the assignments will not require you to disclose any personally identity-sensitive information. If you have any concerns about this, please contact your instructor.

Grade Dissemination:

 

Graded exams will be returned individually and only by a student request and appointment. Please note that scores or grades returned mid-semester are unofficial grades and are subject to change.