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Qualification Details

Level 2 Hospitality Financial Management – Accounting

Program Overview

This level would provide students with a basic understanding of financial accounting and budgeting. Students would learn about the different types of financial statements, how to prepare budgets, and how to track and analyze financial performance. They would also learn about the importance of financial accounting and budgeting in the hospitality industry.
    Module 1: Financial Statements
  • Understand the different types of financial statements and their purpose.
  • Identify the different components of financial statements.
  • Prepare financial statements using a variety of methods.
  • Analyze financial statements to assess the financial health of a business.
    Module 2: Bookkeeping
  • Understand the different aspects of bookkeeping, including recording transactions, balancing accounts, and preparing financial statements.
  • Use bookkeeping software to automate bookkeeping tasks.
  • Maintain accurate and up-to-date financial records.
    Module 3: Cost Accounting
  • Understand the different types of costs and how they are incurred.
  • Calculate the cost of goods sold and other costs associated with a business.
  • Use cost accounting information to make pricing and other business decisions.
    Module 4: Payroll Accounting
  • Understand the different aspects of payroll accounting, including calculating wages and deductions, issuing paychecks, and filing payroll taxes.
  • Comply with federal, state, and local payroll regulations.
  • Manage payroll records accurately and efficiently.
    Module 5: Internal Controls
  • Understand the importance of internal controls in preventing fraud and errors.
  • Identify the different types of internal controls and how they work.
  • Design and implement internal controls for a business.
    Module 6: Budgeting
  • Understand the purpose of budgeting and how it is used to plan and manage financial resources.
  • Develop and implement budgets for different areas of a business.
  • Monitor and adjust budgets as needed.
    Module 7: Forecasting
  • Understand the purpose of forecasting and how it is used to predict future financial performance.
  • Develop and use forecasting models to predict revenue, expenses, and other financial metrics.
  • Use forecasting information to make business decisions.
    Module 8: Cash Flow Management
  • Understand the importance of cash flow management and how it is used to ensure that a business has enough cash to meet its financial obligations.
  • Identify the different components of cash flow and how they are calculated.
  • Develop and implement cash flow management strategies.
  • High school or equivalent
  • Strong communication and interpersonal skills
  • Interest in the course topic
  • Good level of English
200 GLH