|Date||May 14 – 16, 2018|
|Partial Scholarships Available||Contact Liz James for more information|
|Participants||Hospitality professionals who have a minimum of two years’ experience in the industry or a related field. Not necessarily those that work with numbers everyday. This course is geared toward generalists in all areas of hospitality.|
|Pre-course Assignment||Cornell will provide assignments no later than 2 weeks in advance. Assignments are readings, projects, or problem sets requiring approximately 2.5 hours of study time. Completion prior to the course is required|
|Certification of Completion||Obtain a certificate of completion for the course, which qualifies as one of the four courses required for a Cornell PDP Certification|
|Lodging||Special rates at these Accommodations.|
Understanding the day-to-day financial management of your organization is key to advancement in today’s competitive environment. Whether or not you are a financial manager, the key to success as a hospitality professional is knowing how to budget and maximize operational efficiencies. This course will focus on the application of financial-management concepts useful in analyzing hospitality operations. Managerial accounting tools will be explained, examined, and applied as they relate to the decision-making process. Emphasis will be on communicating and interpreting financial data from a General Manager perspective. Common terminology used by owners, operators and others involved in the development process will be defined and incorporated in an operational analysis. The format involves lectures, case studies, and problem sets.
Participants gain the ability and confidence to use financial-analysis tools to increase profitability within their operations.
Click here to view the video on Cornell’s website
- Financial and operating ratios
- Balance sheet and income statement tools of analysis
- Cost volume profit analysis as it relates to operational decisions
- Cost approach to pricing
- Use of operational and capital budgeting
The Vail Centre is committed to providing access to all of our programs through a dedicated scholarship fund. The generosity of our donors makes this possible with special thanks to: