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
Corequisite: None
Crosslisted: None
Accessibility Services Notice
Students who would like an academic accommodation and who have a documented disability should contact Accessibility Services, if they have not already done so.Course Details| Total number of weeks | 15 |
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| Total Credits | 3.00 |
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| Total Hours | 45 |
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Typical hours per week breakdown| Lecture | 3 |
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Learning Outcomes
Upon successful completion of this course, the learner will be able to:
- review the relationship between standard accounting procedures and the main financial statements: the income statement and the balance sheet;
- examine the concept of Cost-Volume-Profit (CVP) analysis and calculate "Break-Even" sales; and
- construct a budget spreadsheet template on EXCEL.
- comprehend income statement and balance sheet time frame criteria and key financial terminology;
- calculate taxation amounts and "Retained Earnings";
- formulate the balance sheet accounts that must be set up to create Capital Reserve and Dividends;
- calculate and assess some key short term and long term balance sheet ratios (i.e., Ratio analysis);
- appraise the concept of "Leverage" and calculate its effect on ROI (Return on Investment);
- utilize "Bottom-up" pricing to determine revenue targets;
- examine the criteria for "operating below cost" and "operating during the off-season" for ski resorts;
- identify and separate fixed costs from variable costs and evaluate fixed and variable lease agreements;
Grading Table
| Percentage |
Letter Grade |
GPA |
| 95 - 100 |
A+ |
4.33 |
| 90-94 |
A |
4.00 |
| 88-89 |
A- |
3.67 |
| 85-87 |
B+ |
3.33 |
| 80-84 |
B |
3.00 |
| 78-79 |
B- |
2.67 |
| 75-77 |
C+ |
2.33 |
| 70-74 |
C |
2.00 |
| 68-69 |
C- |
1.67 |
| 65-67 |
P |
1.00 |
| 64 and below |
F |
0.00 |
See the Academic Calendar for General Information including how to withdraw from course(s) and other regulations.
Disclaimer
Information contained in this course outline is correct at the time of publication. Content of the course is revised on an ongoing basis to ensure relevance to changing educational, employment and market needs. The instructor will endeavor to provide notice of changes to students as soon as possible. The instructor reserves the right to add or delete material from courses.