Using Financial Tools to Make Profitable Operating Decisions
|Ithaca||(June 8 - 10, 2020)||Course Cost US$2995.00|
This course will provide an application of financial and managerial concepts useful in analyzing hospitality operations. The course will provide a background in financial accounting and financial statement analysis, and use tools to analyze cash flows, results of operations, and financial position. Managerial accounting tools will also be explained, examined, and applied as they relate to the decision-making process within the organization. Emphasis will be on communicating and interpreting revenue and cost data from a General Manager’s perspective. Common terminology used by owners and operators will be defined and incorporated in an operational analysis. The course format involves lectures, case studies, and problem sets.
Participants will learn how to use financial statement analysis tools to increase profitability within their operations. Additionally, you will learn techniques to make more strategic operational decisions about costs, volume, profit and pricing, as well as how to best manage operating and capital budgets.
- Financial and operating ratios
- Balance sheet, income statement and cash flow statement tools of analysis
- Cost-volume-profit analysis as it relates to strategic operational decisions
- Cost approaches to pricing
- Use of operational and capital budgeting
*Participants who have attended “Hospitality Financial Management: Operations Decision Making” should not attend this course due to significant overlap of course material.
This course is part of these certifications
- Financial Fluency Certification
- Foodservice Management Certification
- Hospitality Management Certification