Accounting in Recreation, Park, and Tourism Management

Catalog description

This course provides the student with the core knowledge needed to understand the kinds of data generated by the financial systems of recreation operations, prepare budgets, perform forecasting and breakeven analysis, and provide control over the financial aspects of the recreation/park/tourism business. Main topics typically include: Introduction to managerial decision-making; Cost behavior analysis; Cost, volume and profit analysis; Pricing decisions; Preparation of operational budgets; Calculation and interpretation of cost and revenue variances; Preparation of cash budgets and control over cash; Preparation of the statement of cash flows; and Preparation of financial statements in the recreation/park/tourism industry.