Financial Management in Hospitality
About This Course
1. Explain and interpret hospitality management reports.
2. Perform financial analysis on a set of hospitality financial statements.
3. Identify areas to improve revenue and to control costs.
4. Develop an operating departmental budget or forecast.
5. Explain the cycle of working capital and capital expenditures and its importance.
What You'll Learn
This module covers the following main topics:
• Management reports
• Performance analysis
• Revenue and cost management
• Profit planning
• Using spreadsheets for management tasks
• Cash and inventory management
• Budgeting and forecasting
• Time value of money
• Capital expenditure decisions
Entry Requirements
The applicants should possess a relevant local polytechnic Diploma or Degree in Business or Hospitality from recognized institutions. They should also have at least 2 years of relevant working experience.
Applicants who do not meet the entry requirements may be considered for admission to the course based on evidence of at least 5 years of relevant working experience or supporting evidence of competency readiness. Suitable applicants who are shortlisted will have to go through an interview and/or entrance test.