471 - Master's in Tourism Management and Planning
61948 - Economic-Financial Viability of Tourism Projects
61948 - Economic-Financial Viability of Tourism Projects
Faculty / School:
228 - Facultad de Empresa y Gestión Pública
471 - Master's in Tourism Management and Planning
1.1. Aims of the course
The course and its expected results respond to the following approaches and objectives:
1. Study the objectives of business accounting information.
2. Know the basic content of the main financial statements within the framework of Spanish accounting regulations.
3. Correctly interpret the meaning of the different elements shown in the financial statements.
4. Know the financial analysis tools and techniques necessary to diagnose the economic-financial situation of a company or a business project in the tourism sector .
5. Show the fundamental elements that a financial feasibility study of a business project should collect .
These approaches and objectives are aligned with the Sustainable Development Goals (SDGs) of the 2030 agenda (https://sdgs.un.org/goals), in such a way that the acquisition of the learning results of the subject it provides training and competence to contribute somewhat to its achievement.
Objective 4: Quality education
Specific goals of objective 4
4.3 By 2030, ensure equal access for all men and women to quality technical, vocational and higher education, including university education.
4.4 By 2030, significantly increase the number of young people and adults who have the necessary skills, in particular technical and professional skills, to access employment, decent work and entrepreneurship.
4.7 By 2030, ensure that all students acquire the knowledge and skills necessary to promote sustainable development, including through education for sustainable development and sustainable lifestyles, human rights, gender equality, the promotion of a culture of peace and non-violence, world citizenship and the appreciation of cultural diversity and the contribution of culture to sustainable development.
Goal 8: Decent work and economic growth
Specific goals of objective 8
8.3. Promote development-oriented policies that support productive activities, the creation of decent jobs, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro, small and medium-sized enterprises, including through access to financial services.
1.2. Context and importance of this course in the degree
Economic-financial viability of tourism projects is an eminently practical subject. It is intended to give a global vision of the accounting information that companies must prepare and present, delving into the appropriate techniques for its correct interpretation and analysis. In addition, in order to evaluate the viability of a business project, it focuses specifically on the financial area, whose specificities are a consequence of the policies, strategies and decisions adopted in the business plan.
The knowledge and skills acquired by students in this subject are key, whatever the professional activity they develop linked to the company and constitute the culmination of the study process of the different areas of a company.
1.3. Recommendations to take this course
The course is global in nature so it is recommended to have a minimum knowledge of business management and, in particular, in economic and financial matters.
Likewise, it is advisable to attend the different theoretical and practical sessions scheduled in the development of this course, the carrying out of cases and proposed work and the development of autonomous work by the student.
The student must have the capacity for analysis and synthesis and the ability to make decisions.
Upon passing the course, the student will be more competent to:
1. Direct, manage and administer companies and organizations.
2. Assess the situation and the foreseeable evolution of companies and organizations, make decisions and extract relevant knowledge.
3. Apply economic-financial management techniques for the exploitation of tourism projects
4. Apply financial planning tools
5. Understand and use control systems for the financial evolution of tourist business activity
6. Manage data collection and analysis techniques.
Likewise, they will have developed the following transversal competences:
1. Define priorities in the achievement of objectives
2. Have an innovative, prospective and proactive vision
3. Capacity for analysis and synthesis
4. Make decisions and solve problems
5. Organizational and planning skills
6. Manage communication techniques
7. Negotiate and reach agreements
8. Organize and lead teams
9. Ability to make decisions.
10. Ability to apply knowledge in practice.
2.2. Learning goals
The student, to pass this course, must demonstrate that:
1. Understand the operation of the financial area of a company.
2. Is capable of differentiating the meaning of the different items that make up the main financial statements.
3. Understand and use the economic-financial concepts for the diagnosis of the company.
4. Is able to assess the economic-financial situation of a company.
5. Applies adequate techniques and models for financial analysis.
6. Is able to search and manage the information necessary for the economic-financial diagnosis.
7. Knows and integrates the key elements of the decision-making process.
2.3. Importance of learning goals
The learning results of this course are relevant considering that, from the global vision of the company that it owns, having studied the purpose and meaning of the available business accounting information, it is prosecuted,
- on the one hand, business management to predict its future evolution and be able to make decisions with a lower degree of uncertainty
- on the other, if the conditions are met for a business project to be carried out.
3. Assessment (1st and 2nd call)
3.1. Assessment tasks (description of tasks, marking system and assessment criteria)
The evaluation of the subject focuses on the teaching-learning process in such a way that throughout the semester the student is guided, helping him to achieve the planned objectives and enhancing his abilities.
Students must demonstrate that they have achieved the expected learning goals through the following assessment activities:
The evaluation will be carried out through the activities proposed in the development of the classes and the presentation of a final written work.
ACTIVITIES (30% of the grade): They consist of practical cases or theoretical-practical questions to be resolved and debated by the student individually or in a group in class. These activities require the previous work of the student in the classroom or outside of it. It is intended that these activities guide the student and help him understand the basic concepts of the subject. Likewise, they allow the teacher to detect the learning achieved and those that are still in process.
The qualification of these activities will be the arithmetic mean of the note of all of them.
FINAL WRITTEN WORK (70% of the grade): This written work will be individual and will include the contents studied in the subject program. In it, the student will apply in a practical way the concepts and analysis methodologies explained and worked on in the class sessions, demonstrating that they have assimilated and understood the basic concepts of the subject.
The content of the written work will consist of carrying out an economic and financial analysis of a real company in the tourism sector, from among those proposed by the teacher. Students must work on the basis of the company's publicly available financial information.
It will be allowed to continue working on the basis of projects developed in subjects previously studied in the Master´s degree.
It will be delivered on the date of the official call established by the center in the exam calendar.
To pass the subject, the student must achieve a final grade with a minimum grade of 5 points out of a total of 10.
The note of the activities is kept in second call. The note of the written work is not kept for the second call.
This modality will consist of the elaboration of a single final written work (with the characteristics detailed in Modality A) in which a minimum grade of 5 out of 10 must be achieved. It will be presented on the date of the official call established by the center in the exam schedule. Through this work, students must demonstrate that they have assimilated and understood the basic concepts of the subject.
4. Methodology, learning tasks, syllabus and resources
4.1. Methodological overview
The methodology followed in this course is oriented towards the achievement of the learning objectives. It is based on active participation, case studies, teamwork etc. that favor the development of communicative skills and critical thinking. A wide range of teaching and learning tasks are implemented, such as lectures, practice sessions, autonomous work, tutorials, and assessment tasks.
Students are expected to participate actively in the class throughout the semester.
Classroom materials will be available via Moodle. These include a repository of the lecture notes used in class, the course syllabus, as well as other course-specific learning materials, including a discussion forum.
Further information regarding the course will be provided on the first day of class.
4.2. Learning tasks
The teaching-learning process designed for this course is based on the distribution of the 3 ECTS as follows:
- Lectures (1 ECTS): they are participatory sessions where the lecture explains and analyzes the main course contents. Each of these sessions includes a review of the most important concepts already treated as well as the explanation of new concepts, to conclude with a summary of the session's main aspects.
- Practice sessions (0.5 ECTS): they are designed to consolidate and help understand the main issues addressed in lectures, by solving problems and case studies. Some of them will be done individually, and others will be solved in groups of 2-3 people, using the cooperative learning methodology and will be presented to the rest of the class. Students will have at their disposal the class materials on Moodle and are expected to review them carefully.
- Assignments and tutorials (0.5 ECTS): office hours can be used to solve doubts and for follow-up of student's learning progress.
- Autonomous work (1 ECTS): students do tasks such as study, readings and personal reflection in relation to the course contents, reading of the recommended bibliography, preparation of individual exercises and summative assignments
The course will address the following topics:
SECTION I. ELABORATION OF FINANCIAL STATEMENTS
Topic 1: Communication of accounting information. The annual accounts
Topic 2: The Balance Sheet
Topic 3: The Profit and Loss Account
SECTION II: ECONOMIC-FINANCIAL ANALYSIS OF THE TOURISM COMPANY
Topic 4: Analysis of financial statements
Topic 5: Analysis of the short-term economic-financial situation
Topic 6: Analysis of the solvency of the tourist company
Topic 7: Analysis of the profitability of the tourist company
SECTION III: PLANNING
Topic 8: The business plan
Topic 9: Financial viability. Analysis of the investment needs - financing
4.4. Course planning and calendar
Further information concerning the timetable, classroom, office hours, assessment dates and other details regarding this course will be provided on the first day of class or please refer to the "Facultad de Empresa y Gestión Pública" website (https://fegp.unizar.es).
4.5. Bibliography and recommended resources