Accounting for Strategic Decision Making

This week’s topics

Accounting for Strategic Decision Making

1. Short-term operational vs long-term strategic decisions
2. Cost behaviour and break-even analysis
3. Contribution margin in hospitality services
4. Financial reporting for internal stakeholder choices
5. CVP made EASY | Breakeven & Margin of Safety | ACCA PM / F5 | Hare Events
6. Understanding Cost Behaviour
7. Short-term Decision making - Shutdown problems - ACCA Performance Management (PM)

What you will be able to do

• 1.1 Explain the importance of finance and accounting in the context of a tourism or hospitality organisation.
• 1.3 Explain how the finance and accounting function supports a tourism or hospitality business’s decision making.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: explain the importance of finance and accounting in the context of a tourism or hospitality organisation.

Study materials

Videos

• CVP made EASY | Breakeven & Margin of Safety | ACCA PM / F5 | Hare Events · YouTube · Steve Willis ACCA · 16 min · for registered students
• Understanding Cost Behaviour · YouTube · Galton College · 15 min · for registered students
• Short-term Decision making - Shutdown problems - ACCA Performance Management (PM) · YouTube · OpenTuition · 11 min · for registered students

Further resources

• All Are Welcome: An Introduction to the Hospitality Industry, ch. 10: Finance and Accounting · Reading · Libretexts, textbook chapter · for registered students
• Principles of Accounting, Volume 2: Managerial Accounting, ch. 10: Short-Term Decision Making · PDF · OpenStax, textbook chapter; pp. 471–516 · for registered students
• Managerial Accounting, ch. 6: How Is Cost-Volume-Profit Analysis Used for Decision Making? · PDF · Saylor Academy, textbook chapter; pp. 313–382 · for registered students