Professional Certificate in Operational Hospitality Finance Management
Developing your career in hospitality finance
Description
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.
Areas Covered
- Exploring the nature of different types of costs.
- Budget preparation and control and forecasting demand.
- Exploring how cost information is used in decision-making.
- Breakeven and pricing techniques.
- Introduction to yield and revenue management concepts.
- Presentation of information for decision-making.
Benefits
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).
Detailed Syllabus
Module 5 – Understanding The Nature Of Costs
- Purpose of cost classifications
- Controlling basic costs
- Overhead cost control
- Cost estimation
- Activity-based costing
Module 6 – Forecasting & Budgeting
- Budgeting in line with organisational objectives
- Preparation of budgeted statements
- Budget interpretation and management
- Variance analysis
- Limiting factors
- Flexible budgeting techniques
- Mathematical techniques for forecasting demand
Module 7 – Decision Making In Hospitality
- Relevant costs for decision making
- Contribution margin
- Break-even analysis
- Yield management techniques
- Room rate discounting
- Cost-based pricing
- Market-based pricing
- Integrated pricing for multi-products
Module 8 – Presentation Of Information For Impact
- Collection and presentation of data
- Using graphs and diagrams
- Averaging and indexing numbers
- Communicating information
Overview
Duration: Five Months Format: Online / Tutor-Led Pace: 4-5 Hours per week
Experience: Intermediate
Intake: March or September
Who is it for?
- Finance, Accounts and Payroll Assistants, Cost & Credit Controllers.
- Hospitality professionals looking to develop a career in finance.
- Any learner progressing from the Foundation Certificate (exemptions available).
CIMA
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.