Uniform System Of Accounting For Lodging Industries Part 1
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Overview
Approx 3 Hours To Complete Uniform System Of Accounting For Lodging Industries Part 1 in English Language
Uniform System of Accounting Lodging Industries (USALI) has been around for almost 100 years. It started out as a guidebook for the Hotel Accountants Association of New York City in the late 1920s. Since then It was adopted by the American Hotel Association and most recently by the association, Hospitality Financial and Technology Professionals, or perhaps better known as HFTP.
Syllabus
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Definitions of revenue line items, revenue segmentationKey terms used in the rooms departmentMeaning of expenses line, what goes inside and what is notWhat expenses are variable and fixedWhat are operating statistics which are prescribed by USALI and helpful in understanding P&LHow to read and understand rooms department profit & loss statement
What you will learn
Introducing hotel operating structure-profit centers
Introducing hotel operating structure-support centers
Explaining the main profit & loss statement
Room profit & loss – transient market segment
Rooms – group market segment explained
Rooms division – contract revenue and other room revenue
Other rooms revenue consideration – packages barter loyalty program
Structure of room departmental expenses
Labour cost departments and positions
Other labour cost items for room division
Room expenses A-D
Room expenses E-R
Room expenses S-Z
Intro to section on room statistics
Occupancy statistics definitions
Formulas for room statistics
Room statistics report to help understand P&L
Understanding what are variable expense and fixed.. showing P&L analysis
Closure video for rooms module
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