This highly interactive 2-day programme has been devised to provide the delegates with an opportunity to update their financial skills and gain a better understanding of the planning and control processes present in a commercial service organisation. Each delegate will have an opportunity to translate their learning directly into the workplace with case studies and scenarios based on real business problems and solutions.

Course Content

Profit and Loss Accounts

  • The purpose of budgeting

Profit and Loss Accounts

  • Key accounting concepts
  • Users of accounts
  • Comparisons between the role of internal and external reporting
  • The meaning of key terms
  • Uniform System of Accounts
  • The differences between profit and cash

Understanding the Balance Sheet

  • Long term v short term assets
  • Working capital
  • Debt and equity funding
  • Profit measurement in relation to investment

The Management of Cash and Working Capital

  • Planning for cash requirements
  • Controlling cash and other current assets

Interpretation of Results

  • Key performance measures and industry ratios
  • The role of other measures
  • Balanced score card approaches

Improving the Planning Process

  • Revenue forecasting
  • Analysing the cost base
  • Key performance measures
  • Pricing for profit

Introduction to Budgeting and Forecasting

  • The benefits of budgeting
  • Business analysis – where are we now and where are we going
  • Predicting business growth – business mix and volumes
  • Forecasting expenditure – understanding the nature of costs
  • Controlling costs – monitoring performance
  • Investigating variances against budget

Key Aspects of Control

  • Cost, profit and departmental analysis
  • Breakeven analysis

Group Case Study

Benefits of Attending

At the end of the session, participants should be able to:

  • Interpret the business profit and loss account and improve business decision making
  • Understand the difference between cash and profit
  • Understand and interpret the business balance sheet
  • Utilise methods for controlling material (food and beverage) costs
  • Utilise methods for controlling labour costs
  • Interpret business performance using both financial and non-financial approaches in a balanced format
  • Appreciate the importance of positive cash flows
  • Implement practical measures to control cash flows
  • Extrapolate forecasted sales and costs from historical performance
  • Prepare basic budget plans for revenue and costs
  • Understand the principles of budgetary control
  • Understand the environmental factors which impact on the business and use analytical tools for assessing the business position
  • Explore the impact of the business environment on the projected performance

The individual benefits are enhanced by added benefits for the organisation:

The course will equip participants with the ability to understand and contribute effectively to decision making in the organisation based on commercial interpretation of business information. The course content is based on actual materials and examples from best practice in hospitality organisations

Course Details

COURSE FEES
AED 1,300 per participant (AED 1,238.10 - course cost; AED 61.90 - VAT cost)
Course fee is inclusive of all instructional materials, handouts, workbook, daily lunch and coffee breaks

According to the United Arab Emirates (UAE) Ministry of Finance Value Added Tax (VAT) will be introduced across the UAE on 1 January 2018.

The VAT rate will be 5% and will be applied on all rates, fees and other charges covered by your agreement with us, starting from 1 January 2018.

For more details see https://www.mof.gov.ae/En/budget/Pages/VATQuestions.aspx

DELIVERY MODE
PowerPoint presentation, Flipchart, Role Plays, Group discussions and Practical Exercises.

COURSE TIMING
The course runs from 0900 - 1600hrs

PRE-REQUISITES
The programme does not require any pre-requisites

CERTIFICATION
The Emirates Academy Certification of Attendance will be issued upon completion

NUMBER OF ATTENDEES
Maximum number of participants = 20

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