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Master Hospitality Finance – Elevate your career as hotel finance leader

Growth in a Hotel finance career requires Specialised Technical skills apart from general Accounting and finance fundamentals. In this master class, we will be helping you acquire all skills that a...

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  • English

Course Description

Growth in a Hotel finance career requires Specialised Technical skills apart from general Accounting and finance fundamentals. In this master class, we will be helping you acquire all skills that are necessary to become chief accountant/accounting manager in a large size hotel/resort. Usually, a path to become a Chief accountant or accounting manager in a hotel after graduating from the univ...

Growth in a Hotel finance career requires Specialised Technical skills apart from general Accounting and finance fundamentals. In this master class, we will be helping you acquire all skills that are necessary to become chief accountant/accounting manager in a large size hotel/resort. Usually, a path to become a Chief accountant or accounting manager in a hotel after graduating from the university may take anywhere from 2 years to 5 years depending on individual competence, skills, knowledge, and desire. What Makes this Course Unique: A number of people in the hospitality industry have progressed to a point in their careers where they’re essentially stuck at a certain level. Such persons may not be able to take off time from work to complete an extensive, full-time accounting course. This 3-month online course for finance in hotel industry bridges this gap. By focusing on core principles rather than superfluous material and presenting these in an innovative format, we can teach you everything you need to advance into a position involving accounting. This includes non-financial skills like team leadership and the proper use of technology. In terms of financial accounting skills, the syllabus will briefly touch on basic questions and quickly build to advanced topics like budgeting, forecasting, and detailed financial statement analysis.

What you’ll learn
  • Working at Junior levels in the 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.
  • Hospitality management master classes will be delivered in Hybrid mode. There will be some pre-recorded videos and Few Live Sessions. Most of the course will be delivered through live interactions and practical examples based on your work experience.
  • This Master in Hospitality Course will be catered to individual needs and the focus will be emphasized on individual past experience in hotel accounting and learning abilities.
  • You will need to complete Assigned Pre-recorded videos
  • Once a week we will have a virtual class via zoom/google meet to discuss live issues and explaining the concepts shared in pre-recorded videos. So you will be able to prepare on your own pace and get interactive learning as well.
  • Each week you will be given an assignment to complete.
  • At the end, of course, you will be given a master assignment, after the successful completion of such an assignment, you will get the certificate of achievement.

Covering Topics

1
Fundamentals of Accounting Principals
2
Setting up the Financial System for Hospitality
3
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
4
Monthly Financial Statement closing process
5
USALI Standards and Reports
6
Month End Reporting Process
7
Internal controls in hospitality

Curriculum

      Week 1 - Understanding Hotel Finance Department and its relation ship with other departments 1 Introduction to the Master Class – Chief Accountant   5 Minutes 2 Understanding Structure of Hotel & Hotel finance department   20 Mins 3 How Hotel Finance Department is connected with other hotel departments   30 Minutes 4 Uniform System of Accounting for Lodging Industries (Corner Stone of hospitality accounting)   10 MIn 5 How Hospitality Accounting is different and its uniqueness 6 First Live class – What is Hotel organization structure and hotel finance interact with other  1 Hour 7 Live Class – 6th June – Explaining Hotel finance concepts of Accruals, Prepayments and Allocations  1 Hours 8 Resources used in this course for reference and taking notes.
      Week 2 & 3 - Understanding Uniform System of Accounting Lodging Industry (USALI) 1 USALI – Rooms Department  3 Hours 2 Live Class – 12th June – Recording Uploaded  1 hour 3 Live Class – 13th June – Recording 1 Hours 4 USALI – F&B Department  3 Hours 5 USALI – Other Operating Departments  1 Hour 6 LIVE Class – 19th June 2021 – Food and Beverage accounting concepts 60 Mins 7 Live Class 20th June 2021 Recording-Other Operating Departments 1 Hour
      Week 4 - USALI (Non Operating Departments) and Other Reports 1 USALI – Administrative & General 30 Min 2 USALI – Sales & Marketing and Maintenance 3 USALI – Information Technology 14 Min 4 USALI – Other Statistics Reports and Wrap Up of entire USALI 1 Hour
      Week 5 - Managing Accounts Receivables in Hotels 1 Classification of Hotel AR & Process of Generation 50 Min 2 Control Aspects of Hospitality Accounts Receivable 72 Min
      Week 6 - Managing Credit Function in Hospitality 1 Introduction to the Credit Department and Its functioning 45 Mins 2 Credit Department Best Practices and Cashiering in Hotel 40 MIn
      Week 7 - Hotel Income Audit Department 1 Income Audit Department Reports and its impact on accounting 1 Hour
      Week 8 - Hotel Cost Control Department 1 Structure & Role of Hotel Cost Control Department – Basic Controls 1 Hour 2 Cost Board and other reports necessary for hotel accounting 1 Hours
      Hospitality Accounts Payable Department 1 Accounts Payable Function in Hotels
      General Accounting and Month End Closing Process and Analysis 1 Month End Closing Process for Hotels 2 Hotel Financial Statement Analysis
      Hotel Fixed Asset Controls 1 Fixed Asset Control and Recording 2 Valuation and Operating Equipment

Frequently Asked Questions

– Classes will be delivered in Hybrid mode. There will be some pre-recorded videos and Few Live Sessions. Most of the course will be delivered through live interactions and practical examples based on your work experience. – Once a week we will have a virtual class via zoom/google meet to discuss live issues and explaining the concepts shared in pre-recorded videos. So you will be able to prepare on your own pace and get interactive learning as well.

– Each week you will be given an assignment to complete.

– At the end, of course, you will be given a master assignment, after the successful completion of such an assignment, you will get the certificate of achievement.

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This course includes
  • Lectures 31
  • Duration 20 Hour
  • Month 3 Month
  • Language English
  • Certificate Yes
Education Provider
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eHotel management School
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