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Hospitality and Tourism Financial Management Assignment - Reflective Learning Journal

The purpose of the reflective learning journal is to record and analyse your experiences of learning as both a process and a product so do not copy and paste your learning materials.

Learning outcomes - On completion of this unit, students should be able to:

1. Explain the uses of, and be able to apply, management and financial accounting information in the hotel and other service industry settings.

2. Recognise the role of management accounting in decision making, planning and the control of hotel and other service industry operations.

3. Analyse the interaction of accounting information and analyses with operations management and strategic corporate plans.

4. Explain the use and application of management accounting information in operations management and marketing decisions (feasibility studies), especially in hotels and other service industries.

The aim of this reflective learning journal is to record and analyse your learning experience in this unit, as both a process and a product. In your journal you will need to document your thoughts and provide information regarding what you are learning, how you are learning and your reflections on what you have learned regarding accounting concepts and principles.

Please refer to the following pages for specific requirements.

Reflective Learning Journal

The expectations/assessment criteria for your Reflective Learning Journal include the following:

1. You need to demonstrate critical engagement with the subject matter throughout weeks 2 - 5, including (but not limited to):

• Building up an accounting glossary or list of terms used in this unit and providing explanations of accounting concepts in your own words.
• Accumulating a list of definitions, equations, formulas etc. that need to be memorised and being aware of which will be helpful when recording day-to-day business operations.
• Preparing a summary of the knowledge and skills you are developing from topic to topic, demonstrating a degree of synthesis and integration rather than being just a list of points.
• Showing evidence of learning activities undertaken, demonstrating the application of accounting principles to practice and/or reinforcement of technical skills.

2. You should demonstrate active engagement in your learning experiences. This can include - self-evaluation of progressive assessment tasks completed, how you feel you could have improved your results in quizzes, and in the self-test questions, and how you plan to make best use of feedback provided for future practices.

3. You can make meaningful reflections on your progressive learning experience, showing how the results of your reflection on learning in earlier topics improved your learning in later topics. Self-evaluation allows you the opportunity to reflect and comment on the way you approach assessments, such as quizzes and is a critical part of your learning journey.

4. Your thoughts and comments need to be integrated, and should be expressed clearly and concisely.

Content you should include in the Reflective Learning Journal: You should cover the content introduced in learning materials of topics 2 - 5 during weeks 2 - 6 of the study period.

The topics that you will cover in your Reflective Learning Journal will include, but should not be limited to - pricing decisions, operational budgeting, inventory management, cash budgeting and fraud management and budget variances

You do not need to cover all topics listed above. However, make sure your Reflective Learning

Journal meets the four expectations/assessment criteria listed above.

Helpful thought provoking questions

The following is a list of thought questions that may help you to address the required areas as you develop your reflective learning journal:

• What am I learning in this unit and why am I learning it?
• How am I learning in this unit and how am I using what I am learning?
• What are my priorities and challenges as a learner in this unit?
• How can I overcome my learning weaknesses and build on my strengths in this unit?
• What different skills you needed for different components of my learning in accounting?
• How can I use the feedback from my assessment tasks to improve my learning?
• How are different parts of my learning connected?
• How is my learning in this topic affected by my learning (or lack of learning) in earlier topics?
• How well am I achieving my goals in accounting? How can I improve my learning process?
• How are my attitudes and ideas changing through the learning process?
• What are my strategies for achieving my goals and ambitions, and for overcoming my identified weaknesses in learning this unit?