HOSPA The Hospitality Professionals Association


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Written by Debra Adams

Applications are open for the next intake for the HOSPA Financial Management course with three Stages of study available in early September. Choose your stage based on what you want to learn and what you want to achieve.

What will you study at each Stage?

Stage One – Introductory Hospitality Financial Accounting (IFA)

·         Introduction to the accounting concepts and statutory accounting principles

·         Double-entry book keeping, journal entries and ledger accounts

·         Understanding depreciation, accruals and prepayments, bad debts and accounting for stock

·         Compiling the trial balance, Income & Expenditure Account, Cash Flow and Statement of Financial Position

·         Internal audit and control procedures for cash, payroll, inventory, food and beverage

·         Using the Uniform System of Accounts for the Lodging Industry (11th Edition)

Stage Two – Operational Hospitality Management Accounting (OMA)

·         Exploring the nature of different types of cost

·         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

Stage Three – Strategic Hospitality Management Accounting (SMA)

·         Use and implementation of the different tools available for strategic planning and forecasting

·         Capital investment appraisal methods

·         Sources of funds and cost of capital

·         Interpretation of the accounts – understanding ratios, competitor analysis, bench marking and the balanced scorecard

·         Control of working capital

How will you study?

You will receive a course pack filled with theory and practical examples plus the course has a range of unique features:

  • All the course materials have been written by experienced educators specifically to match the needs of finance professionals in the hospitality industry
  • The course materials and examples are based on the best practice outlined in the Uniform System of Accounts for the Lodging Industry
  • Wherever a learner is based, support is available from a tutor via email or the online learning space with additional resources and examples
  • Free access to EBSCO online journals and articles including the Harvard Business Review, Strategic Finance and many more

What are the benefits?

Your career really gets a kick start, as completion of all three Stages of the Financial Management programme leads to exemption from CIMA’s Certificate in Business Accounting, BA2 and BA3 modules. Completion of all three Stages leads to Associate Certified Membership of HOSPA.

During your studies you have free student membership of HOSPA for the duration of your studies which provides you with access to the EBSCO online database with over 3,000 full text journals, as well as networking opportunities, free members’ meetings and discounted tickets to the HOSPACE conference, keeping you up to date with best-practice and the latest industry standards.

What will the course cost?

The cost per Stage is £820 plus VAT. 

Get in Touch

To Enrol: www.hospa.org/education/enrol   Further Information: www.hospa.org/education/fm

Email: education@hospa.org or Telephone + 44 (0) 1202 889 430

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