SROM 256 Ski Area Budgeting and Business Management

SROM 256: Ski Area Budgeting and Business Management introduces students to the analysis of financial data for a standard Income Statement and Balance Sheet. Financial ratios that are normally used to predict the business health of a ski resort will be covered. Using CVP numerical analysis, students will learn the impact of future proposed financial changes on the fiscal health of a ski resort�s finances. Problem solving will help students to understand these financial concepts. Creation of budget templates on EXCEL spreadsheets will round out the course content.

Prerequisites: SROM 169

Accessibility Services Notice

standard statement

Transfer Agreements

Course to Course transfer – NoBlock Transfer – Yesbctransferguide.ca
Course Details
Total number of weeks15
Total Credits
Total Hours45
Typical hours per week breakdown
Lecture3

Outcomes

Upon successful completion of this course, the learner will be able to:

  1. eview the relationship between standard accounting procedures and the main financial statements: the income statement and the balance sheet;
  2. examine the concept of Cost-Volume-Profit (CVP) analysis and calculate "Break-Even" sales; and
  3. construct a budget spreadsheet template on EXCEL.
  4. comprehend income statement and balance sheet time frame criteria and key financial terminology;
  5. calculate taxation amounts and "Retained Earnings";
  6. formulate the balance sheet accounts that must be set up to create Capital Reserve and Dividends;
  7. calculate and assess some key short term and long term balance sheet ratios (i.e., Ratio analysis);
  8. appraise the concept of "Leverage" and calculate its effect on ROI (Return on Investment);
  9. utilize "Bottom-up" pricing to determine revenue targets;
  10. examine the criteria for "operating below cost" and "operating during the off-season" for ski resorts;
  11. identify and separate fixed costs from variable costs and evaluate fixed and variable lease agreements;

Grading Table

Hospitality and Tourism

See the Academic Calendar for General Information including how to withdraw from course(s) and other regulations.

Disclaimer

standard statement