Course Outline

The course Accounting and Financial Analysis for the Hospitality Industry explains how to use financial data and fundamental accounting to operate a successful hospitality department or business. Focusing on the basics, sections progress from accounting and financial analysis to financial statements and management reports to budgeting and forecasting.



Course Objectives

By the end of the course, participants will be able to:

  • Explain the role of accounting and finance in the career of a hospitality manager
  • Describe the fundamental methods of financial analysis
  • Explain the process and the different components of the Financial Management Cycle
  • Describe how accounting departments in the hospitality industry are organized and operate
  • Identify and prepare basic financial statements and explain how they interrelate
  • Identify and prepare different internal hotel management reports
  • Perform variance analysis (actual vs. budget) of costs and revenues and implement measures to control hospitality-related operating costs
  • Perform financial statement analysis using key indicators and ratios for the hotel and leisure industry
  • ​Prepare forecasts for hotel revenues and expenses
  • Describe the techniques and steps used to prepare a budget
  • Prepare an operating budget for a hotel



Target Audience

Managers, supervisors and staff working in accounting and finance functions in hotels and accommodation businesses.



Key Topics

The key topics covered in the course are:

  • The role of accounting in business
  • Fundamentals of financial analysis
  • Financial management cycle
  • Accounting in the hospitality management industry
  • Preparing key financial statements
  • Preparing internal management reports
  • Variance analysis and cost control
  • Financial ratios for the hotel and leisure industry
  • Financial forecasting methods and techniques using Microsoft Excel​
  • Budgeting methods and techniques using Microsoft Excel



Examination

Participants should attend at least 5 out of the 6 classes.

Participants need to complete three assignments successfully.

At the end of the course, participants need to complete a final written exam.

A Certificate of Completion is awarded if the course is successfully fulfilled. Participants also receive an official transcript for their grades and course credits.



Course Fee in Aruban Florins

Per participant: AFl. 825.=, including turnover taxes.

Includes: course material, handouts, snacks, coffee and refreshments.



Location and Dates

Location: N/A

Next class starts on: Currently only available as in-house training (call 5885975 for info)

Number of classes: 6
Time: 6:30 PM - 9:00 PM

Exam date: N/A


We reserve the right to alter dates, content, venue and trainer.



Discount Plans and Cancellation Policies

We offer discount plans for group bookings and in-house course and workshop facilitation. Click here for details about our discount plans and cancellation policies.

​​Length:           6 classes



Effort:             2-3 hours per week



Level:              Intermediate



Language:     English, Dutch or

                          Papiamento *



Exam:             Assignments/Exam



​Credits:          2.5 EC's



Fee:                 AFl.   825.=


Register Online or Download Course Registration Form:

* Course language determined by audience's

   prefererence

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ACCOUNTING & FINANCIAL

ANALYSIS FOR THE

HOSPITALITY INDUSTRY