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Level 5 Diploma in Tourism and Hospitality Management

Year-End Accounting Adjustments

THM503 · Management Accounting — Week 4 of 16

CourseTHM503
Week4 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Year-End Accounting Adjustments

  1. Accruals and prepayments in hospitality operations
  2. Depreciation methods and asset valuation
  3. Irrecoverable debts and allowance for receivables
  4. Closing inventory valuation
  5. Accruals and Prepayments (part a) - ACCA Financial Accounting (FA) lectures
  6. Irrecoverable Debts and Allowances Example 1 - ACCA Financial Accounting (FA) lectures
  7. INVENTORY VALUATION (FIFO & WEIGHTED AVERAGE) - PART 1

What you will be able to do

  • 2.4 Apply techniques to make adjustments to financial statements.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: apply techniques to make adjustments to financial statements.

Study materials

Videos

  • Accruals and Prepayments (part a) - ACCA Financial Accounting (FA) lectures · YouTube · OpenTuition · 18 min · for registered students
  • Irrecoverable Debts and Allowances Example 1 - ACCA Financial Accounting (FA) lectures · YouTube · OpenTuition · 21 min · for registered students
  • INVENTORY VALUATION (FIFO & WEIGHTED AVERAGE) - PART 1 · YouTube · FOG Accountancy Tutorials · 40 min · for registered students

Further resources

  • Introduction to Financial Accounting, Lyryx 2023-A, ch. 3: Financial Accounting and Adjusting Entries · PDF · Other, textbook chapter; pp. 99–154 · for registered students
  • Principles of Accounting Vol. 1, ch. 4.1–4.2: Accruals, prepayments and adjusting entries · PDF · OpenStax, textbook chapter; pp. 190–203 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
Week 3Week 5
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Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

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Course plan
  • Week 1: The Role and Context of Finance and Accounting
  • Week 2: Accounting for Strategic Decision Making
  • Week 3: Nature and Structure of Financial Statements
  • Week 4: Year-End Accounting Adjustments
  • Week 5: Financial Statements for Sole Traders
  • Week 6: Financial Statements for Partnerships
  • Week 7: Financial Ratio Analysis
  • Midterm: Midterm evaluation
  • Week 9: Comparative Historical Performance Evaluation
  • Week 10: Sources of Business Finance
  • Week 11: Budgetary Control, Revenue Management, and Cash Budgeting
  • Week 12: Applying Management Accounting in practice: case studies
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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