Upon successful completion of this course you will be able to:

• Recognize how to design your menu as per established principals
• Identify who your main customers are
• Identify which meal period is most profitable
• Identify your major revenue sources and establish if these are profitable or not
• Identify what are the major costs in your business
• Describe how to control the major costs in your business

At the end of this course, you will be able to:

• Discuss how business intelligence can be applied in starting a business
• Identify the three types of system business intelligence applications used for analyzing data
• Explain the reasons why managers need IT support
• Describe management and decision-making
• Explain BI development and the types of dashboards used in business intelligence (BI)
• Describe data management and data warehousing
• Identify the common mistakes made when designing a dashboard
• Describe the characteristics of a data warehouse
• Discuss the subsets of the data warehouse
• Explain the data warehouse development approaches
• Discuss data mining and its stepping stones
• Identify the stages involved in data mining

By the end of this course, you will be able to:

• Discuss the need for cash flow planning in hospitality management
• Outline the requirements for making cash flow plans
• Identify the operational factors that need to be considered in making cash flow plans
• Discuss zero-based budgeting
• Explain the ABC (activity-based costing) system
• Identify areas of focus for the long term during a period of business
• Identify how to draft a room revenue budget using Excel sheets
• Identify strategies for creating monthly room budgets plans
• Compute an F&B (food and beverage) budget plan successfully using Excel sheets
• Outline the segments to consider in banquet budgeting
• Distinguish between the F&B revenue budget template and a banquet budget template
• Recognize how to draft labour cost and payroll budgets for any department in a hotel effectively

By the end of this course, you will be able to:

• Explain the starting point of the financial model
• Recognise the key features of a clear financial model
• Explain the starting point of the financial model with an example in MS Excel
• Improve customer acquisition using with the business model example
• Lay out the steps to take before starting to create a financial model
• Define the ‘labour cost model’ and the ‘operating expenses’ model
• Evaluate the key features of an income statement model and balance sheet model

By the end of this course, you will be able to:

• Analyse the hotel financial reports, the Profit and Loss statements and their components
• Explain the basic concepts of accounting like the ‘accrual basis’, the allocation of expenses and the prepayments
• Describe the hotel Profit and Loss statements and horizontal, vertical and ratio analysis
• Evaluate the results of the market benchmark report and the menu engineering report
• Classify the menu items according to their popularity and profitability, reasons and the necessary actions
• Analyse the segregation of labour cost and the segregation by department
• Discuss the nature of expenses, productivity reports, ‘zero-base manning’ and cost management ideas
• List the Profit and Loss analysis steps of the overall operation, the rooms division and the food and beverage division
• Describe the quantitative and qualitative factors in pricing the menu
• Estimate the need to raise prices and the required average guest spending by using MS Excel templates
• Outline the operating and marketing reports, like the revenue by business, and guest nationality

By the end of this course, you will be able to:

• Define ‘zero-based budgeting’ and explain the need for zero-based budgets in modern-day organisations
• Discuss the advantages and disadvantages of the zero-based budgeting method in forecasting
• Describe the most common uses of zero-based budgeting in developing forecasts for different types of organisation
• Define ‘activity-based costing’ and explain the theory behind this costing technique
• Analyse the key differences between function-based costing methods and activity-based costing
• Describe the steps involved in designing a properly functioning activity-based costing system

By the end of this course, you will be able to:

• Define the terms ‘property, plant and equipment as provided by the standard IAS 16
• Describe the recognition criteria for ‘property, plant and equipment’ set out by the accounting standard IAS 16
• Discuss the initial measurement of cost of property, plant and equipment in the account books 
• Analyse the ‘component’ basis of accounting in IAS 16
• Discuss the subsequent measurement techniques and the revaluation model under IAS 16
• Identify the different depreciation methods available for property, plant and equipment
• Classify the various disclosure requirement prescribed under IAS 16

By the end of this course, you will be able to:

• Describe Power BI and define its basics
• List all the tools and functions in Power BI
• Outline different data types in Power BI
• Indicate the similarities between visualizations in Power BI
• Identify the outcomes when changes are made within Power BI and Power BI Desktop
• Compare the differences between dashboards and reports within Power BI