Financial Management in Cultural Tourism
Instructor: Жељана Јовичић, PhD, Assistant Professor
The main goal of this subject is to explain the students and to illustrate them in selected ways more significant issues in the field of financial management and to recommend them ways of their removal (mitigation). The success of resolving dilemmas in business finance depends on the quality of financial and investment decisions and their interaction with each other, as well as the skills and knowledge of the financial manager to implement these decisions efficiently, economically and effectively. Emphasizing the specificity of financial management in organizations dealing with cultural tourism, with the goal of directing attention to the application of general and specific analyzes, techniques and methods used in business and corporate finance.
|Number of classes per week:
PhD Assistant Professor
|Learning Outcomes (gained knowledge):
||The student will be able to:
- explain the practical role of financial management in enterprises/organizations dealing with cultural tourism;
- use data from the financial statements, calculates the selected indicators, analyze and assess the financial status of the enterprise/organization for cultural tourism;
- explain the time dimension of money;
- compare the processes of making short-term and long-term financial decisions and explain their financial consequences (effects);
- explain the importance and role of financial markets;
- assess the interdependence of risks and returns in the process of capital budgeting;
- analyze and plan the appropriate sources of financing for investment projects;
- calculate the average cost of capital;
- design net cash flows and apply methods for evaluating the cost-effectiveness of investment projects.
||Financial function. Goals and tasks of financial management. Concept and role of the financial market, instruments and participants in the financial markets. Influence of the institutional and economic environment on the financial position of the enterprise/organization. Funding rules. Concept of time value of money. Short-term and long-term sources of financing. Short-term and long-term investment. Financial planning and control. Budgeting of money. Financial analysis. Financial management. Investment projects in the field of cultural tourism. Capital budgeting, risk and uncertainty in the field of cultural tourism. Preparation of a cash flow plan for an investment project in the field of cultural tourism. Estimation of cost-effectiveness of investment projects in the field of cultural tourism.
|Teaching Methods and Learning Activities:
||Lectures, presentations, interactive sessions, workshops, project assignments.
||Besley, S., Brigham, E.F. (2015). Principles of Finance (Poslovne finansije), Belgrade: Data Status.
|Types of Assessment for the subject:
||Attendance (2 points); Final exam (0-50 points); Pre-exam activities (pre-exam paper) (0 - 48 points)
|Special Remarks for the subject: