☑ uniform system of accounting
☑ F&B department
☑ Hotel management
☑ Accounting Definitions for USALI
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
- Templates for Profit & Loss Account for Food and beverage department
- Definition of Revenue and Expenses lines in Profit & Loss accounts for outlets and F&B.
- Cover Analysis, Food Cost and other statistical 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 is the third Module of the class. We have also updated the recording of our live sessions for your benefit. You can ask any questions in the Question and Answers. You can check other modules on our instructor page.
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 the completion certificate issued by UDEMY for Completing each module.
Overall Template and Revenue Section
1. F&B Profit & Loss Statement Template (Revenue and Cost of Sale) Part 1
2. F&B profit & Loss Template Explained Part 2
3. Food Revenue and Beverage Revenue Explained
4. F&B Allowance and Other revenue lines explained
F&B Department Expenses
5. F&B Cost of Food Sales and Beverage
6. F&B cost of sale for other revenue
7. F&B Dept Labour cost (Salary and Wages)
8. F&B Dept Other line items for labour cost
9. F&B Labor cost Supplemental Pay and Employee Benefits
10. F&B Operating Expenses - Banquet Expenses
11. F&B Operating Expenses Starting with C
12. F&B Operating Expenses - Decoration to Linens
13. F&B Operating Expenses - Management fee to Utensils
Statistics and Analytical Reports
14. F&B Dept. Operating Metrics Prescribed by USALI
15. F&B Dept Statistics to understand Profitability by Venue
16. F&B Dept Formula to calculate Metrices discussed earlier
17. Fixed And Variable expenses and how to analyze P&L
Link to Other Modules of this Master Class