Foundation Certificate in Hospitality Finance Management

Our finance courses have been facilitated by industry-leading experts, supporting hundreds of hospitality professionals for over 30 years. This course is endorsed by the Institute of Hospitality and is recognised by the Chartered Institute of Management Accountants. Your learning will be at your own pace, enabling you to balance your professional development with other commitments.

The course has assessments throughout which are designed to gauge your understanding and application of course material. We employ a mix of written exams and practical evaluations aligned with industry standards.

• Introduction to accounting concepts & statutory accounting principles​.
• Uniform System of Accounts for the Lodging Industry (USALI).
• Double-entry bookkeeping, journal entries & ledger accounts.​
• Fixed asset accounting, accruals & prepayments​.
• Trial balances, income & expenditure account, cash flow and financial position statement. 
• Internal audit and control procedures for cash, payroll, inventory, food & beverage.

 Learn from home at your own pace.

 Online support from our industry-leading experts.

 Opportunity to collaborate with other learners in our online learning space.

 Free HOSPA membership.
 Discounted access to HOSPACE.

 Discounted access to the annual HOSPA learner awards.

 Exemptions from further study with the Chartered Institute of Management Accountants (CIMA).

Module 1 – Conceptual Framework

• The users of accounts and the objectives of financial statements
• The functions of management accounts and financial accounting
• Statutory accounting principles & fundamental concepts of accounting
• Historical accounting versus information for decision making
• Business structures

Module 2 – Data Processing & Double Entry

• Coding and classification
• Books of original entry
• Journal entries
• Double entry bookkeeping to trial balance
• Uniform System of Accounts for the Lodging Industry (USALI)
• Evaluation of computerised outputs
• Information flows in hospitality organisations

Module 3 – Preparation Of Accounts

• Accruals and prepayments
• Bad debts and provisions for doubtful debts
• Methods of depreciation
• Accounting for stocks, methods of stock valuation
• Accounting treatment for VAT
• Preparation for VAT returns
• Components of gross pay, PAYE and NI
• Profit and loss account preparation
• Balance sheet preparation

Module 4 – Internal Audit & Control

• Implementing internal control and audit procedures
• Control of cash disbursements and receipts
• Payroll controls and staff scheduling
• Inventory purchase, storage and control
• Controlling food and beverage costs
• Completing a bank reconciliation
• Fixed asset registers
• Information technology

 Duration: Five Months
 Format: Online / Tutor-Led
 Pace: 4-5 Hours per week
 Experience: Entry
 Intake: March or September

• Finance, Accounts and Payroll Assistants, Cost & Credit Controllers.
• Hospitality Professionals looking to explore a role in finance.
• Exemptions available depending on experience.

All learners who complete the three courses of the HOSPA Professional Development Programme in Hospitality Financial Management receive exemptions with the Chartered Institute of Management Accountants (CIMA).

Exemptions cover all four exams from the CIMA Certificate in Business Accounting (Cert BA), which is CIMA’s entry level qualification and can be taken as a standalone qualification. If learners would like to achieve the CIMA Cert BA they are able to decline one of the four exemptions received and pass that one exam. Upon completion of the one objective test exam, the learner will receive the Certificate in Business Accounting as well as gain the designatory letters CIMA CertBA.

Or for those learners looking for a route to becoming a Chartered Global Management Accountant (CGMA), exemptions can be used for the first level of CIMA and start CIMA at the Professional Qualification, bypassing the Cert BA.