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School of Hotel Administration

Hospitality Financial Management: Operations Decision Making

Professional Development Program: Hospitality Financial Management
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Description

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.

Key Benefits

Participants will learn how to use financial statement analysis tools to increase profitability within their operations. Additionally, you will learn techniques to make more strategic operational decisions about costs, volume, profit and pricing, as well as how to best manage operating and capital budgets.

Topics Include

  • 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

Experts

Biography Mary MacAusland, CPA, PhD, is a senior lecturer at the School of Hotel Administration in the Cornell SC Johnson College of Business, where she teaches courses in financial and managerial accounting and financial statement analysis. Prior to joining Cornell, she was actively engaged in ...

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