Planning & Cost Control | Training & Development | Finance Training | Hermes Customer Experience | Customer Loyalty

Understanding Finance in Hospitality and Tourism

THE POTENTIAL

"You cannot understand the business fully unless you understand the finance of the business"

Understanding finance is a key managerial skill that can be developed quickly/ thus improving the performance of the manager, individual departments and the business as a whole.

This programme will give owners/ manager and department heads an understanding and ability to review the financial performance of departments or business divisions/ and the company as a whole, while preparing and working with budgets.
 

BENEFITS
Upon completion of this programme each participant will have a:

bullet Stronger knowledge and understanding of all key areas of cost control.
bullet Better understanding of the margins and yields.
bullet New ability to read and understand financial reports
bullet Willingness to intelligently question financial performance and reports
bullet An improved ability to forecast and budget for future performance
bullet Appreciation of why cashflow is the lifeblood of the business

WHO WILL BENEFIT FROM THIS PROGRAMME

bullet Hotel Owners
bullet Restaurant and Cafe Owners and Managers
bullet Bar Owners and Managers
bullet Directors
bullet General Managers
bullet Department Managers
bullet Service Department Managers
bullet Human Resources Managers
bullet Sales and Marketing
bullet Operations
 




PROGRAMME STRUCTURE and CONTENT
The programme is run over three days and can be scheduled to suit your management availability. The programme content will be customised to suit the exact needs of the organisation; areas covered include but are not limited to:

bullet Understanding profit margins and yields,
bullet Preparing and working with budgets,
bullet Knowledge and understanding of areas of cost control,
bullet Understanding costs and overheads,
bullet Understanding Assets and Liabilities,
bullet Understanding Business Equity and Worth,
bullet How to read and understand a company/department Profit and Loss Account,
bullet How to read and understand a Balance Sheet,
bullet Improving Management confidence in understanding the financial aspects of the business.
bullet Budgeting and financial control
bullet Understanding Cashflow forecasting.

THE PROGRAMME INCLUDES A FULLY CUSTOMISED CASE STUDY DEVELOPED FROM THE INTERNAL REPORTS AND CURRENT FINANCIAL ISSUES OF YOUR BUSINESS

Shorter programmes covers key areas of cost control and yield management can be designed on request.

All aspects of the programme will be highly interactive JARGON FREE and will be based upon relevant business related Financial Issues and Practices.

elearning programmes and interactive material on understanding finance in hospitality and tourism are also available at the management store.