Udemy

Platform

English

Language

Accounting & Bookkeeping

Category

M2-Hospitality Finance -Uniform System of Accounting - Rooms

uniform system of accounting, USALI, hotel financial statements, market segmentation, Room Profit & Loss statement

Students

3 hours

Content

Jul 2021

Last Update
Regular Price


What you will learn

uniform system of accounting (USALI)

accounting guidelines

chart of accounts for hospitality

market segmentation


Description

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,

Accounts Receivable

General Accounting

Fixed Asset Controls

Income Audit

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.


Screenshots

M2-Hospitality Finance -Uniform System of Accounting - Rooms
M2-Hospitality Finance -Uniform System of Accounting - Rooms
M2-Hospitality Finance -Uniform System of Accounting - Rooms
M2-Hospitality Finance -Uniform System of Accounting - Rooms

Content

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

Bonus Lecture

Link to other Modules in the Master Class


4155182

Udemy ID

6/30/2021

Course created date

7/13/2021

Course Indexed date
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