Hospitality Reporting & the Uniform System of Accounts
Details
This course has been designed for hospitality finance professionals whose role includes the preparation of internal accounts for control and strategic decision making.
The objective of this one-day course is to guide hospitality finance professionals through the range of revisions in the new edition of the USALI.
These revisions are a reflection of the need to update due to changes in industry practice and Generally Accepted Accounting Practice. The publishers of the revised USALI state that to remain in compliance with the latest edition reporting changes should be in place by January 2015.
Outline
The USALI sets out recommended formats, account headings and cost classifications for the preparation and presentation of financial statements for hotels. The first edition was published in 1926 and since then this has become the industry standard for best practice reporting. Over the years the USALI has been revised numerous times with the 11th Edition released in 2014.
The arrival of a new edition of the USALI is a significant event for the hospitality industry and it is important that readers and users understand the significance of the updates on the following topics:
- Summary Operating Statement
- Operating Schedules
- Food and Beverage Department
- Non-Operating Income and Expenses
- Financial Ratios and Operating Metrics
- Financial Statements
- Revenue and Expense Guide
On completion of the course, delegates will be equipped with the know-how to be able to:
- Prepare financial statements to industry standard
- Understand, interpret and prepare financial reports
- Remain in compliance with the Uniform System
‘Hospitality Reporting and the Uniform System of Accounts’ is delivered over the course of one day by an experienced facilitator from arena4|finance. The day is complete with course notes and refreshments and is supported by 14-days access to our online classroom.
Taking a practical approach, the course is highly interactive and consists of a series of worked examples, case studies and discussions.
Speaker/s
Debra Adams leads the arena4finance training team. She is a Chartered Management Accountant (CIMA), qualifying in 1990. Her early career was spent training and working in finance roles with an international hotel group followed by 11 years spent in higher education at Bournemouth University and subsequently with a range of accredited training providers designing education programmes both for classroom delivery and online.
Debra has delivered courses for non financial managers for a number of clients across a range of sectors, and current clients include Jumeirah International, the Hospitality Professionals Association, the Training Team, the Institute of Hospitality and the Master Innholders.
Founded in March 2004, arena4finance specialises in the design and delivery of financial training and professional development for non-financial managers and career accountants.
Working with businesses of all sizes, both nationally and internationally, we are experienced in developing online and face-to-face courses and bespoke professional development programmes for businesses that want to improve their understanding of financial management and strategy; from understanding basic accounting through to working with profit and loss budgets, revenue forecasts and cash flows.
We are experienced in delivering financial awareness courses to a range of sectors including hospitality, construction, care home services, not for profit and restaurants & contract catering. Our current clients include Emirates Academy of Hospitality Management in Dubai, Institute of Hospitality, Jumeirah International, Whitbread, Les Roches Hotel School, Glion London, The University Caterers Organisation (TUCO) and Responsible Hospitality Partnership (RHP). arena4|finance has also been granted approved partner status with the Association for Public Service Excellence (APSE) to deliver courses on Food Cost Control and other finance topics. ...
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