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Level 5 Diploma in Tourism and Hospitality Management

Budgetary Control, Revenue Management, and Cash Budgeting

THM503 · Management Accounting — Week 11 of 16

CourseTHM503
Week11 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Budgetary Control, Revenue Management, and Cash Budgeting

  1. Budgetary control cycle and variance analysis
  2. Dynamic pricing and revenue management principles
  3. Cash budget construction and inflows/outflows forecasting
  4. Appraisal of cash budgets and liquidity management
  5. CIMA P2 Budgetary Control and Performance Management
  6. Budgeting part 4 - Cash Budgets - ACCA Management Accounting (MA)
  7. MA34 - Variance Analysis - Explained

What you will be able to do

  • 4.2 Describe the process of budgetary control and revenue management in a tourism or hospitality business.
  • 4.3 Prepare a cash budget.
  • 4.4 Appraise a cash budget.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: describe the process of budgetary control and revenue management in a tourism or hospitality business.

Study materials

Videos

  • CIMA P2 Budgetary Control and Performance Management · YouTube · OpenTuition · 33 min · for registered students
  • Budgeting part 4 - Cash Budgets - ACCA Management Accounting (MA) · YouTube · OpenTuition · 13 min · for registered students
  • MA34 - Variance Analysis - Explained · YouTube · Tony Bell · 11 min · for registered students

Further resources

  • Principles of Accounting, Volume 2: Managerial Accounting, ch. 7: Budgeting · PDF · OpenStax, textbook chapter; pp. 327–376 · for registered students
  • Principles of Economics 3e, ch. 5.3: Elasticity and pricing · PDF · OpenStax, textbook chapter; pp. 118–125 · for registered students
  • Principles of Finance 2e, ch. 19.3: Cash management · PDF · OpenStax, textbook chapter; pp. 565–566 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Course chat

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.

Open this week in the portal
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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