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Uniform System of Accounting for Lodging Industries Part 2

MAH’s course on Uniform System Accounting for Lodging industries (Part-2)

Beginner
4.5 (937 Ratings) 1,173 Students enrolled English
Created by Manish Gupta
Last updated Thu, 29-Sep-2022
Curriculum for this course
23 Lessons 02:39:26 Hours
  • Intro to USALI and Course
    Preview 00:01:58
  • Introducing Hotel Operating Structure-Support Centers
    00:03:17
  • \Explaining the main Profit & Loss Statement
    00:08:57
  • F&B Profit & Loss Statement Template (Revenue and Cost of Sale) Part 1
    00:05:26
  • F&B profit & Loss Template Explained Part 2
    00:04:11
  • Food Revenue and Beverage Revenue Explained
    00:08:27
  • F&B Allowance and Other revenue lines explained
    00:15:38
  • F&B Cost of Food Sales and Beverage
    00:09:22
  • F&B cost of sale for other revenue
    00:05:58
  • F&B Dept Labour cost (Salary and Wages)
    00:04:43
  • F&B Dept Other line items for labour cost
    00:08:12
  • F&B Labour cost Supplemental Pay and Employee Benefits
    00:07:55
  • F&B Operating Expenses - Banquet Expenses
    00:03:27
  • F&B Operating Expenses Starting with C
    00:07:37
  • F&B Operating Expenses - Decoration to Linens
    00:10:25
  • F&B Operating Expenses - Management fee to Utensils
    00:07:46
  • F&B Dept Operating Metrics Prescribed by USALI
    00:09:34
  • F&B Dept Statistics to understand Profitability by Venue
    00:06:08
  • F&B Dept Statistics to understand Profitability by Venue
    00:06:08
  • F&B Dept Formula to calculate Metrices discussed earlier
    00:08:26
  • Fixed And Variable expenses and how to analyze P&L
    00:15:51
  • F&B P&L in Excel
    .
  • F&b Revenue, expenses and Statistics as per USALI
    .
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Course overview

This prep course from MAH is an excellent compilation of 23 video lessons, each covering a crucial aspect of USALI. Plus, the course lessons are presented in lucid English for everyone to understand.

 

Course Curriculum:

MyAssignmenthelp.com strives to impart a thorough comprehension of USALI standards, its core elements and other wanted skills deemed necessary and highly in-demand. The course will cover:

 

  • An overview and introduction of the course 
  • About hotel operating structure –support centres 
  • Properly explaining the primary profit & loss statement. 
  • A reference template on the Food & Beverage profit & loss statement (focussing on revenue & sales cost – part 1)
  • A comprehensive explanation of the Food & Beverage profit & loss statement template (part II)
  • Proper coverage of both Food & Beverage Revenue
  • Lucid explanation of Food & Beverage allowances and other revenue-generating mediums
  • In-depth coverage of all Food & Beverage division costs (like labour cost, sales cost and additional revenue, food sale associated costs and beverages, supplemental pay and benefits for employee/labour, banquet expenses, linen décor costs, utensil management remuneration and more)
  • Detailed coverage on Food & Beverage Division statistics (USALI-recommended operational metrics, statistics on profitability by venue, essential formula to determine the covered metrics)
  • In-depth understanding of Profit and loss analysis resources (about fixed and variable costs, and analysing profit and loss resources correctly, understanding of Food & Beverage costs & relevant USALI stats and more)

 

Learning these skills will certainly make you eligible to work in this lucrative but highly competitive hotel financial division.

 

 

Why Learn Accounting For Lodging Industries Course With MyAassignmenthelp.com?

MyAssignmenthelp.com is a name countless students look up to for on-demand assignment writing help or in-demand online course specialisations. And with good reasons too!

The site constantly aims to deliver bespoke education to students desiring to acquire a new specialisation and consequently make a stable career in their preferred venture. 

This prep course on USALI is another one of its well-compiled courses for respective students to refer to. Over 1173 students have enrolled for this course and are taking full advantage of its video lessons. It's time you did too.

Here are some irrefutable reasons to opt for this USALI prep course:

  • Course-takers will get close to 2 ½ hours of on-demand video lessons. 
  • The lessons are well compiled and aptly segregated to present optimal clarity to each learner. 
  • The primary language chosen for this prep course is English.
  • The video lessons are easily acquirable from any smart device of your choosing.
  • You get free reign to refer to them as often as you need to until you become crystal.
  • This prep course will give you lifetime access to all 23 lessons covered. 
  • To solve queries, you can reach out to the hyperactive student support team and convey the question to your tutor through them. The instructor will revert in minimal turnaround time. 

 

 

What's The Importance of This Course in Your Career?

The importance of USALI for course takers in the hotel management industry is plenty. 

Through the course, students will learn how the Uniform System of Accounting Lodging Industries helps dedicated hotel accountants and finance experts report all financial activities of a hotel setup. 

This Uniform system also gives them the acumen to identify errors, perils or unacceptable reporting methodologies to ensure the accounting appears transparent to all and sundry.

Moreover, course learners will also gain familiarity and understanding of its five fundamental aspects, such as:

  • Operating statements 
  • Metrics for financial ratios and operation
  • Revenue and costs guide 
  • Net vs gross reporting
  • Statements to access financial status 

Those who acquire sound knowledge of all these critical facets of USALI can be assured of becoming eligible for lucrative job positions in the hotel accounting and finance division anywhere on the planet. 

 

 

 

Who Can Opt for This USALI Prep Course?

  • Individuals who want to make a respectable career in the hotel sector's Food & Beverage division
  • Accounting students who wish to learn USALI from scratch
  • Accounting professionals desiring to change job designations and enter the hotel accounting and financial management department

 

If you see yourself as one of them, don't procrastinate further.

 

 

What Does This Course Teach You?

Students taking this course will:

  • Become adept at comparing one hotel's performance against others. 
  • Learn about food and revenue concepts and profit and loss statement structure for the hotel sector's Food & Beverage branch. 
  • Get to know about various expenses & essential statistics from the Food & Beverage section and proper ways to investigate profit/loss resources.

In addition, course takers will also become apparent on the following facets of USALI:

  • Food & Beverage division costs 
  • Food & Beverage Division statistics 
  • Profit and loss analysis resources

 

 

About The Course Instructor

The course instructor is Manish Gupta. He's been with MyAssignmenthelp.com for several years. By profession, Meg is a Chartered Accountant with a whopping 11 years of real-time expertise. But she also possesses extensive knowledge of the Uniform System of Accounts for the Lodging Industry (USALI). And using that knowledge, she has compiled this lucid beginner's prep course for respective eager-beavers. 

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About instructor

Manish Gupta

3,379 Reviews | 105,815 Students | 39 Courses
 Mr Manish Gupta is an experienced hospitality finance professional, having a blend of financial core expertise with hands-on training in managing hotel operations and busi...

Reviews

  • SK
    Santhosh K
    18/11/2021
    Good
  • CS
    Carla S
    17/11/2021
    Good information for such a short course! One main feedback would be to show examples of the income statements and hotel balance sheets using numbers that can better illustrate the financial health of the hotel to then analyze how the business is doing. Thank you!
  • NL
    Nariel L
    13/10/2021
    thank you for teaching new lesson for us
  • SS
    Suroso S
    05/10/2021
    simple, concise
$5 $25 80% off
Includes:

Frequently Asked Questions

The USALI is primarily used by several hotels (big and small) all across the globe to compare one hotel's performance against others and helps dedicated hotel accountants and finance experts report all financial activities of a hotel setup. 

This Uniform system also allows respective accountants to identify errors, perils or unacceptable reporting methodologies and ensure the accounting appears transparent for everyone.

USALI, or Uniform System of Accounting Lodging Industries, is a standardised accounting practice deemed acceptable by the hotel accounting departments. 

The duration of this course is minimal (more like close to 2 ½ hours), making it convenient for all learners to enrol and start learning as they see fit.

It is done every 2-3 weeks from January 2022.

Candidates need to have a passion for learning, good English understanding abilities and familiarity with numeracy and accounting terminologies. 

 
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Candidates need to have a passion for learning, good English understanding abilities and familiarity with numeracy and accounting terminologies. 

 
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Candidates need to have a passion for learning, good English understanding abilities and familiarity with numeracy and accounting terminologies. 

 
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Candidates need to have a passion for learning, good English understanding abilities and familiarity with numeracy and accounting terminologies. 

 
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