Managerial Accounting for the Hospitality Industry

Professional Development Institute of Tourism
Parksville, British Columbia, Canada

Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced

Course Description:

'' With this course, With this course, students and industry employees can learn how to make effective managerial, business, and operational decisions based on a thorough understanding of financial analyses. Includes how to analyze financial statements, identify costs, develop realistic budgets, forecast, plan cash flow, and more.

Evaluation: The student must complete twelve basic, self-scoring review quizzes, four progress test, and a comprehensive final examination.

Learning Resource: Managerial Accounting for the Hospitality Industry, Fourth Edition, by:
Raymond S. Schmidgall, Ph.D., CPA, Michigan State University

Learning Objectives: At the completion of this course, students should
be able to:
1. State the purposes, contents, and limitations of the balance sheet, and analyze
balance sheets using both horizontal and vertical analysis.
2. State the purposes, contents, and limitations of the income statement, and
analyze income statements using both horizontal and vertical analysis.
3. Understand and use the most current version of the uniform system of accounts
applicable to the lodging industry.
4. State the purposes, contents, and limitations of the statement of cash flows
(SCF), and prepare an SCF.
5. Use ratio analysis to interpret information reported on financial statements
and reports, as well as understand how the interpretation of ratio results varies
among owners, creditors, and managers.
6. Understand basic cost concepts such as fixed, variable, and mixed costs, as well
as calculate the fixed and variable elements of mixed costs.
7. Perform a breakeven analysis and use cost-volume-profit analysis to determine
the revenue required at any desired profit level.
8. Use cost approaches to pricing both rooms and food and beverage items.
9. Forecast activity levels by using both qualitative and quantitative forecasting
methods.
10. Prepare an operations budget and analyze variances of actual results from
budgeted plans.
11. Manage a hospitality operation’s cash balances, cash flow, and short-term
investments in securities, as well as manage an operation’s working capital.
12. Implement basic internal control techniques for various accounting functions
such as cash receipts, cash disbursements, accounts receivable, accounts
payable, payroll, inventories, fixed assets, and marketable securities.
13. Use various capital budgeting models such as the accounting rate of return
model, payback model, net present value model, and the internal rate of return
model
...''

Phone:250-248-2010

School Address:

Professional Development Institute of Tourism
P. O. Box 278, Suite 2 - 141 Memorial Avenue
Parksville, British Columbia, CANADA, V9P-2G4
Phone 250-248-2010
Fax 250-248-9413

Jobs & Resumes: Parksville
Houses & Roommates: Parksville

Hospitality Supervision
Quality Sanitation Management
Food & Beverage Service
Planning and Control for Food & Beverage Operations
Bar & Beverage Management
Tourism and the Hospitality Industry
Marketing of Hospitality Services
Hospitality Sales & Marketing
Convention Management and Service
Basic Financial Accounting for the Hospitality Industry
Managing for Quality in the Hospitality Industry
Training for the Hospitality Industry
Human Resources Management
Contemporary Club Management
Facilities Management
International Hotel Management
International Human Resource Management in the Hospitality Industry
Resort Management and Development
Managing Food Production

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