MFP - Lesson 1

Managing Financial Performance 
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TourismHigher Education (degree)

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Managing Financial Performance 

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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 

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Have you studied Finance previously?
Yes
No

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How are you feeling about the module?
😒🙁😐🙂😃

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Structure of module 
Coursework - 60% 
Class test - 40% 

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Key dates 
Assignment - 29th February 2024
Class test - 25th April 2024

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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





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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?

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

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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.

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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.

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

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

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

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

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Break 

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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)

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Activity 3 
Sweet treats 

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Activity 4 
Discussion on Canvas 

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Write down 3 things you learned in this lesson.

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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.

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