(3 DAYS) HOTEL FINANCIAL MANAGEMENT

Financial Management in Hospitality Industry course is designed to provide non-financial professionals with a solid foundation in finance principles and concepts. Over the course of two and half days and an assessment, participants will gain a practical understanding of financial statements, financial analysis techniques, budgeting, and financial decision-making. Through interactive discussions and review questionnaires, participants will develop the skills necessary to interpret financial information, make informed business decisions, and effectively communicate with finance professionals.

1. ACCOUNTING PRINCIPLES & CONCEPTS a. Accounting Equation b. Double Entry System of Accounting c. Generally Accepted Accounting Principles d. Accounting Cycle e. Depreciation and Amortization Methods f. Inventory Valuation Methods 2. FINANCIAL STATEMENTS a. Uniform System of Accounting for Lodging Industry (USALI) b. Departmental Income Statements c. Balance Sheet 3. ANALYZE HOSPITALITY FINANCIAL STATEMENTS a. Hotel Operating Ratios b. Food and Beverage Operating Ratios c. Balance Sheet 4. BUDGETING AND FORECASTING a. Budget b. Sales Forecasting c. Relationship of Expenses to Sales d. Breakeven Analysis e. Cash Budget f. Investment Appraisal