☑ uniform system of accounting (USALI)
☑ accounting guidelines
☑ chart of accounts for hospitality
☑ market segmentation
Hospitality finance is unique from other industries. A part of the hotel finance department is considered part of hotel operations rather than a support function due to blending into the main operations for cash control, purchasing, material management.
Hotel operations are also fast-paced high-volume transactions making it unique and require a lot of internal controls and reconciliations. Being a part of a big moving machine, if finance does not function equally fast, the entire machine gets slows. and if internal control is week, revenue may leak.
In this complete Master Class, we will learn all components of the hotel finance function, internal controls, management aspects and technical accounting.
Class is divided into Modules and you will gain access to all modules one by one. you can choose to learn as per your individual requirements. In this module, we will be covering
- What is uniform system of accounting for lodging industries (USALI)
- Templates for Profit & Loss Account
- Definition of Revenue and Expenses lines in Profit & Loss accounts.
- Market Segmentation and other statistics reports prescribed by USALI for hotels to maintain for analysis
In other modules, we will be covering,
Uniform System of accounting,
Fixed Asset Controls
Cost Control and other departments.
This Module is Basic and the First to be learned. There will be updates to this module based on our Live classes. You can ask any questions in the Question and Answers.
The instructor of this class is an experienced CFO with over 12 years of experience in hospitality finance, Currently, he is managing 15 hotels in Myanmar.
Once you have completed all Modules, you will get entitled to Get a Master Class Certificate issued by “E hotel management school” separately in addition to completion certificate issued by UDEMY for Completing each module.
Introduction to USALI
1. Introducing Hotel Operating Structure-Profit Centers
2. Introducing Hotel Operating Structure-Support Centers
3. Explaining the main Profit & Loss Statement
Resources used in this Class
Room Division P&L - Revenue Part
4. Room Profit & Loss - Transient Market Segment
5. Rooms - Group Market Segment Explained
6. Rooms Division - Contract Revenue and Other Room Revenue
7. Other Rooms revenue consideration - Packages Barter Loyalty program
Room Division Expenses
8. Structure of Room Departmental Expenses
9. Labour cost Departments and Positions
10. Labour cost Departments and positions
11. Other Labour cost items for Room Division
12. Room Expenses A-d
13. Room Expenses E-R
14. Room Expenses S-Z
Room Department Statistics and Analytics
15. Intro to Section on Room Statistics
16. Occupancy Statistics definitions
17. Formulas for Room Statistics
18. Room Statistics Report to help understand P&L
19. Understanding what are variable expense and fixed.. showing P&L analysis
20. Closure Video for Rooms Module
Link to other Modules in the Master Class