MFP - Lesson 1

• Tourism
• Higher Education (degree)

Managing Financial Performance 

Learning Objectives - 25.1.24

• Be able to describe the requirements of the module 
• Know key dates for the module 
• Describe the purpose of studying finance for your career 
• Construct a Statement of Comprehensice Income (profit and loss statement)
• Describe the financial position of one company 

Have you studied Finance previously?

Yes

No

How are you feeling about the module?

😒🙁😐🙂😃

Structure of module 

Coursework - 60% 

Class test - 40% 

Key dates 

Assignment - 29th February 2024

Class test - 25th April 2024

Content of the module 

Users of Financial Statements - Internal and External Users

Financial Statements - Statement of Comprehensice Income (Profit & Loss Account), Statement of Financial Position (Balance Sheet) and Cash Budget (cash flow forecast)

Adjustments - Depreciation; Straight-line Method, Accruals, Pre-payments, Discounts, Carriage In & Out, Returns In & Out

Interpretation of Financial Figures - Ratio Analysis; Liquidity, Profitability, Efficiency.  Break-even Analysis and Cash Budgets

Order of learning......

What statements are needed?

Who needs to know what is going on? 

Why do they need to know?

What can they do about it?

Opportunity to achieve a high grade....... 

What is Finance?

Finance is the management of money and includes activities such as investing, borrowing, budgeting, and forecasting. It's crucial for individuals and businesses to make informed financial decisions.

Importance of Finance

Finance helps individuals and businesses to plan for the future, manage risks, and make strategic decisions. It also facilitates economic growth and stability.

Personal Finance

Personal finance involves managing one's own money, including budgeting, saving, investing, and planning for short- and long-term financial goals.

Business Finance

Business finance focuses on managing the financial activities of a company, including obtaining funding, making investments, and assessing financial performance.

What job do you want to do when you finish University?

Give some examples of how you will use Finance in your careers?

Break 

Three main Financial Statements 

Statement of Comprehensive Income - annual sales, expenses and profits (aka profit and loss)

Statement of Financial Position - assets, liabilities and capital (aka balance sheet)

Cash Budget - estimation of inflows and outflows over specific period of time /weekly, monthly, quarterly or annually

(aka cash flow forecast)

Activity 3 

Sweet treats 

Activity 4 

Discussion on Canvas 

Write down 3 things you learned in this lesson.

Have students enter three things they learned in this lesson. With this they can indicate their own learning efficiency of this lesson.

Write down 2 things you want to know more about.

Here, students enter two things they would like to know more about. This not only increases involvement, but also gives them more ownership.