Certificate in Hospitality Applied Finance

Certificate in Hospitality Applied Finance

Earn 5 CPE credits in Accounting!

The CHAF aims to familiarize you with standard financial metrics and operational terms used in hospitality accounting. Concepts covered include revenue, expenses, profitability, assets, liabilities, equity, and cash flow. Basic financial statements, such as income statements, balance sheets, and cash flow statements, will be presented and discussed. Additionally, the flow of financial data to these statements and the various systems and technology platforms used in today's hospitality businesses will be explored.

Whether your interest lies in accounting, operations, marketing, or management, familiarity with key terms, metrics, and financial principles is essential for advancing in the hospitality sector. This course will provide a baseline understanding of the daily financials used in hospitality. So get ready to unlock your potential and pave the way for your success in the world of hospitality.

After completion of this course, participants will be able to:

• Identify the primary hospitality industry segments and recognize key characteristics.
• Identify key positions in a hotel and club organizational structure and their roles and responsibilities. 
• Differentiate organizational structures and key leadership roles across other hospitality segments.
• Recognize internal and external hospitality stakeholders and their influence on the organization.
• Recognize professional associations, services, and software that support hotels.
• Recognize professional associations, services, and software that support club hospitality organizations.
• Identify the fundamental principles of accounting and financial reporting.
• Recognize the process of recording, analyzing, and processing financial transaction data in hospitality operations.
• Recognize industry-specific, finance, and technology terminology used in the hospitality sector. 
• Identify the various ledgers used in financial reporting and their role in preparing financial statements.
• Identify the components of the month-end closing process, including the preparation of financial statements, the use of closing checklists, and the role of departmental collaboration.
• Recognize the importance of financial information for strategic decision-making and describe how internal and external users utilize financial data.
• Recognize the purpose of the balance sheet reconciliations and describe how to provide insightful commentary on financial performance to ensure accurate and reliable financial reporting. 
• Recognize the role of technology in enhancing operational efficiency, improving guest experiences, and supporting workforce management in the hospitality industry.
• Identify key technology systems used in the hospitality industry and describe their specific roles in enhancing efficiency, guest satisfaction, and overall business operations. 
• Trace the path of data in hospitality technology systems, from initial guest interactions through processing, integration, and use in decision-making.
• Recognize the importance of data security and responsible use of technology and data in the hospitality industry. 
• Identify the purpose and components of the Income Statement, Statement of Retained Earnings, Balance Sheet, and Statement of Cash Flows.
• Recognize how the financial statements are interconnected and how information flows between the Income Statement, Statement of Retained Earnings, Balance Sheet, and Statement of Cash Flows.
• Identify key components of the Notes to the Financial Statements and their importance in providing context and additional information about financial results. 
• Calculate and interpret fundamental financial ratios, including profitability, liquidity, and solvency ratios, using information from the financial statements.

Additional Information:

• No prerequisite knowledge is required to be successful in this course. Likewise, no advance preparation is required.
• Program Level: Basic
• Delivery Method: QAS Self Study

Policies:

In the event that an HFTP Academy course is cancelled, the cancellation will be communicated via email from Academy@HFTP.org. If a course is removed from the catalog after you have paid but before your allotted time has ended, a refund will be issued per the refund policy.

The HFTP Academy will issue a refund only if a course is cancelled and access removed before paid time elapses. If a course is purchased by mistake, the HFTP Academy will evaluate the case and may offer to transfer enrollment to another course of equal or lesser cost.

In the unfortunate event of an issue regarding an HFTP Academy course, concerns may be submitted to Academy@HFTP.org. Each concern will be addressed in a timely manner.

Hospitality Financial & Technology Professionals (HFTP) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.