Hospitality Finance
Credits: 3
Course Number: 10-109-126
Course Description
10-109-126 HOSPITALITY FINANCE ...purchasing/receiving controls, storing/issuing controls, production controls, monitoring activities, sales controls, beverage controls, labor controls and financial statements.
Course Typically Offered
Most 冈本视频 classes are offered in 8-week sessions. Learn more about how our class schedule can help you succeed.
Credit for Prior Learning
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This course is associated with the following programs:
What will I learn?
- Explain why it is essential for hospitality owners/operators to thoroughly understand accounting
- Describe the major forms of business organization
- Define and Describe bookkeeping, double entry accounting and identify bookkeeping accounts
- Identify the major financial statements and explain the use of each
- Describe the advantage/disadvantage of using a computerized accounting system
- Describe the accounting cycle and the difference between cash basis and accrual accounting
- Describe the income statement and the accounts used to prepare
- Identify the accounts used to prepare a balance sheet and explain the elements that apply
- Summarize the significance of restaurant accounting listing income statement components
- Describe the Summary Operating Statement and Identify the SOP Sections
- Explain the purpose and use of the statement of cash flows
- Define responsibility accounting and determine break-even points
- Define and apply the concept of price elasticity in the hospitality budgeting process
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