The course develops background for understanding and reading tourist companies’ financial reports and for assessing company’s financial position and making managerial decisions. The course covers basic concepts of modern financial reporting, essentials in international standard of financial and managerial accounting. It provides basic knowledge in preparing, processing and interpreting the data about business transactions for different types of external as well as internal investors, management and other accounting information users. The course is based on lectures, seminars, case studies and self-study.
Course Objectives:
The course is focused on developing skills in preparing and analyzing tourist companies’ financial statements and data for decision-making purposes.
By the end of semester students are expected to be able to apply a set of accounting concepts to read annual financial report of tourist corporation and financial ratios to assess its position, are expected to apply managerial accounting analytical tools for internal control, pricing and developing different budgets for financial planning purposes as well as to get essential skills in capital budgeting techniques.
Accounting is the financial information system that provides relevant information to those who manage or use economic resources or engage in other economic activity. Principles of Accounts 2 is a course of study that provides an introduction to the principles and techniques that accountants employ in measuring, processing, evaluating and communicating information about the financial performance and position of a business.
This course in Principles of Accounts 2 helps students to develop an understanding of a range of theoretical and practical techniques used in accounting. It helps to develop skills that should enable them to participate more effectively and responsibly in today’s business environment, to improve the management of personal financial activities, such as, budgeting, savings and investment. In addition, this course prepares students for post-secondary and professional studies in accounting.
- Course description
The primary objective of this course is that of an integrating experience for the students. All areas of international business management curriculum will be brought to play on the problems encountered. The approach will be case study analysis.
2. Course Aims
At the end of this course, the student will possess a cognitive domain, psychomotor domain, and affective domain in the following areas of performance:
- Identify, list, define key seminar terminologies and modern management techniques.
- Demonstrate the understanding of the process of seminar.
- Demonstrate the understanding of the role of the master of ceremony.
- Know how to create various effective advertisements for seminar.
- Demonstrate an ability to collect feedback and interpret the results.
- Know the communication process between guest speakers and audience.
The globalization of the economy, with increased cross-border alliances, ventures and global relocations, as well as the advent of e-commerce, has brought about major changes in the field of international customer relations and intercultural diversity management. This has led to an increased appreciation by companies that managing cultural differences properly can be a key factor in getting things done effectively across borders. With increased contact of personnel and customers from diverse cultural backgrounds, there is a growing demand for businesses to understand and manage the diverse values, perceptions, business worldviews and behaviour of corporations, staff, and its customers. Intercultural communication and management is an interdisciplinary human resources field concerned with facilitating communication, management and effective interaction of personnel and customers across borders.
Many companies have made massive losses through the mismanagement of international projects. Such losses are even clearer when one considers that statistically over three quarters of international acquisitions and alliances fail due to cultural differences. While intercultural management is a "soft" issue difficult to quantify financially, given the potential losses that have been made in the past, it is immensely important for companies to consider cultural issues properly when dealing in any major international venture, alliance or other cross-border project.
Typically institutions should consider the services of intercultural management specialists (or business anthropologists) when:
- Developing international markets
- Considering investing in company premises or facilities in other location overseas
- Dealing with customers in different parts of the world
- Planning a global strategy
- Developing international leadership
- Merging or integrating with other companies across borders
- Developing multi-cultural teams
- Creating a global vision/mission for international integration
- Implementing transnational management matrices
- Dealing with cross-cultural conflict
- Conducting major international negotiations
- Implementing major cultural change
- Implementing major Technology / Management Transfer projects
- Managing international customer relation
- Facilitating growth of new technology companies in global arena
On completion course, students will be able to:
- differentiate between cultural patterns and features of different nations;
- know about the origins of CCM, realize the important role that CCM plays in the management of international companies;
- be familiar with the main work-related cultural characteristics of some major economies located in different parts of the world;
- be familiar with broad CCM strategies that multinational companies (MNCs) may adopt and their respective advantages and disadvantages, understand the ways in which subsidiaries may influence an MNC’s CCM policies in host countries and elsewhere within the company;
- be familiar with main theoretical models and practical issues involved in foreign assignments, be able to examine expatriation from both parent company’s and foreign subsidiary’s perspectives; know about implications of foreign assignment for expatriated staff and their families while in foreign countries and once they are back home;
- conduct the study project, use the knowledge in case-studying, the knowing of the features of CCM in the current management.