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Hospitality Finance

Credits: 3
Course Number: 10-109-126

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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

  • Spring

Most NWTC classes are offered in 8-week sessions. Learn more about how our class schedule can help you succeed.

Credit for Prior Learning

How can I use this course to achieve my career goals?

What will I learn?

  1. Explain why it is essential for hospitality owners/operators to thoroughly understand accounting
  2. Describe the major forms of business organization
  3. Define and Describe bookkeeping, double entry accounting and identify bookkeeping accounts
  4. Identify the major financial statements and explain the use of each
  5. Describe the advantage/disadvantage of using a computerized accounting system
  6. Describe the accounting cycle and the difference between cash basis and accrual accounting
  7. Describe the income statement and the accounts used to prepare
  8. Identify the accounts used to prepare a balance sheet and explain the elements that apply
  9. Summarize the significance of restaurant accounting listing income statement components
  10. Describe the Summary Operating Statement and Identify the SOP Sections
  11. Explain the purpose and use of the statement of cash flows
  12. Define responsibility accounting and determine break-even points
  13. Define and apply the concept of price elasticity in the hospitality budgeting process
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1 classes found

Class Number: 83505

Fall 2024
10/18/2024 - 12/20/2024