Hospitality Finance Workshop & Master Class

Start:
August 8, 2020 End:
August 8, 2020 Location:
Online |
Hospitality Industry finance is a complex process that works very hard to generate management information continuously.
To be able to do this there are various processes and co-ordination from various departments. Learn All aspects of hospitality Finance in this Workshop.
Growth in Hotel finance career requires Specialised Technical skills apart from general Accounting and finance fundamentals.
Usually, a path to become a Chief accountant after graduating from the university may take anywhere from 2 years to 5 years depending on individual competence, skills, knowledge, and desire. A typical Journey may include
- Working at Junior levels in Payables, receivables, General Accounting department of the hotel to gain a basic understanding of the hotel operation process.
- Growth to Supervisor takes about 1-3 years (sometimes many more) depending on hotel training plans, individual interest, and learning abilities. At Supervisory levels, individuals learn to manage small teams, become accountable for tasks of the team, and manage a process.
- From here individuals may take anywhere between 2-3 years (Sometimes much more) and are required to study to gain knowledge to be able to handle
- Monthly Financial Statements (as per USALI)
- Management Payments, receivables, approval processes
- Create Management Reports
- Overall leadership for the accounting department, hiring, promotions, team management.
Associates have options either to learn from experience and wait till positions become vacant or learn through additional resources such as this master class on how to become a chief accountant and create opportunities for themselves.
What we will cover in this Workshop.
- Fundamentals of Accounting Principals
- Setting up the Financial System for Hospitality
- Understanding how different department works and impact financial statements
- Income Audit Department
- Cost Control Process
- Credit and AR department
- Accounts Payables
- Fixed Asset Controls
- Hotel Operations department
- Monthly Financial Statement closing process
- Leadership and Soft Managerial skills Required
- hiring,
- managing teams,
- performance evaluation,
- communications,
- Decision-Making skills
- USALI Standards and Reports
- Management Reports
- Data Analysis
Checkout our Courses
Business Planning
USALI is the bible for the financial standards in the hotel industry. It lays out detail and provides a solid and usable framework for the hotel in...
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$40
$9.99
Business Planning
USALI is the bible for the financial standards in the hotel industry. It lays out detail and provides a solid and usable framework for the hotel in...
Add to Wishlist
$40
$9.99
Business Planning
In the past various listed companies have committed financial statement frauds through creative accounting. Their motives were either to manipulate...
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$49
$9.99
This course will help to clarify capital budgeting fundamentals, how to calculate Net Present Values, IRR. payback period and which method should b...
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$49
$12.99
Business Planning
Listed companies are bound by duty to provide all necessary information to stakeholders through annual reports, in order to let investors understan...
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$49
$9.99
Business Planning
Working capital is required for day to day function of the hospitality business. In order to manage the operating capital, hoteliers need to learn ...
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$40
$7.99