M3-Hotel Finance USALI - F&B Cover Analaysis, P&L, Food Cost

Name: M3-Hotel Finance USALI - F&B Cover Analaysis, P&L, Food Cost
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Uniform system of accounting, hotel financial statement analysis, Module 3 of master class

Created byHotel Management School Your learning Partner, TA eHMS

Last updated 3/2022

English

English [Auto],

What you'll learn

uniform system of accounting
F&B department
Hotel management
Accounting Definitions for USALI

Course content

4 sections • 18 lectures • 2h 19m total length

1. F&B Profit & Loss Statement Template (Revenue and Cost of Sale) Part 15:25
Explore the F&B profit and loss statement template, detailing food revenue, beverage revenue, other revenue, and allowances, with costs of sale and labor across outlets.
2. F&B profit & Loss Template Explained Part 24:10
Explain the F&B profit and loss template, detailing labor costs by management and non-management, service and kitchen, cross-charges, and F&B expenses, with cost centers and department profit.
3. Food Revenue and Beverage Revenue Explained8:26
Define and allocate food revenue and beverage revenue within the F&B department, detailing venue revenue, in-room dining, banquet, minibar, and the cost transfer for non-alcoholic beverages.
4. F&B Allowance and Other revenue lines explained15:37
Understand f&b allowances as revenue deductions from rebates and complimentary items, and how audiovisual, function room, cover charges, and service and miscellaneous income affect p&l.

5. F&B Cost of Food Sales and Beverage9:21
Explore the F&B cost of sales and other operating costs by examining direct food and beverage costs, labor, spoilage, transfers to other departments, and guest and staff provisions.
6. F&B cost of sale for other revenue5:58
Analyze f&b cost of sale for other revenue items, such as audiovisual and miscellaneous costs and branded merchandise, and review gross profit and menu cost updates.
7. F&B Dept Labour cost (Salary and Wages)4:43
Examine f&b labor costs in the profit and loss statement and allocate them by salary and wages. Split management and non-management into service and kitchen roles.
8. F&B Dept Other line items for labour cost8:12
Learn how to allocate f&b labour costs across outlets and staff roles while safeguarding confidentiality by combining management and non-management salaries, and understand service charge distribution and vacation leave provisions.
9. F&B Labor cost Supplemental Pay and Employee Benefits7:55
Examine how f&b labor costs cover supplemental pay and employee benefits, including vacation, holidays, severance accruals, and expatriate allowances, with sick days not accrued, to stabilize the p&l.
10. F&B Operating Expenses - Banquet Expenses3:26
Explore banquet expenses in F&B operating costs within the P&L, covering decoration and props, and learn when charges to guests move costs to other revenue or cost of sales.
11. F&B Operating Expenses Starting with C7:36
Explore f&b operating expenses from chinaware to cleaning supplies and cluster services. Learn how labor, commissions, and contract costs are allocated, and how IFRS affects chinaware damages.
12. F&B Operating Expenses - Decoration to Linens10:25
Examine f&b operating expenses from decorations to linens, including dishwashing supplies, subscriptions, entertainment, equipment rental, glassware, and linens, and discuss capex vs p&l treatment under IFRS.
13. F&B Operating Expenses - Management fee to Utensils7:45
Explore F&B operating expenses, including management fees, menu design, music and entertainment, operating supplies, reservations, royalties, training, travel, uniforms, and utensils.

14. F&B Dept. Operating Metrics Prescribed by USALI9:34
Explore USALI-prescribed F&B operating metrics, including revenue mix, average check, and cost of food and beverage; assess inventory turns and revenue per available guest, seat, group, and function space.
15. F&B Dept Statistics to understand Profitability by Venue6:07
Analyze F&B department statistics by venue to assess profitability, track revenue per available seat, and compare current month and year-to-date results with the prior year.
16. F&B Dept Formula to calculate Metrices discussed earlier8:25
Analyze F&B department metrics to assess venue profitability, including catering revenue per square feet of function space, F&B revenue per available seat, and revenue per customer.
17. Fixed And Variable expenses and how to analyze P&L15:51
Examine the fnb profit and loss by revenue sources (food, beverage, other income) and analyze fixed, variable, and semi-fixed costs to assess profitability and budgeting.

Requirements

Completion of previous two modules is beneficial.

Description

Hospitality finance is unique from other industries. A part of the hotel finance department is considered part of hotel operations rather than a support function due to blending into the main operations for cash control, purchasing, material management.

Hotel operations are also fast-paced high-volume transactions making it unique and require a lot of internal controls and reconciliations. Being a part of a big moving machine, if finance does not function equally fast, the entire machine gets slows. and if internal control is week, revenue may leak.

In this complete Master Class, we will learn all components of the hotel finance function, internal controls, management aspects, and technical accounting.

Class is divided into Modules and you will gain access to all modules one by one. you can choose to learn as per your individual requirements. In this module, we will be covering

- Templates for Profit & Loss Account for Food and beverage department

- Definition of Revenue and Expenses lines in Profit & Loss accounts for outlets and F&B.

- Cover Analysis, Food Cost and other statistical reports prescribed by USALI for hotels to maintain for analysis

In other modules, we will be covering,

Uniform System of accounting,

Accounts Receivable

General Accounting

Fixed Asset Controls

Income Audit

Cost Control and other departments.

This is the third Module of the class. We have also updated the recording of our live sessions for your benefit. You can ask any questions in the Question and Answers. You can check other modules on our instructor page.

The instructor of this class is an experienced CFO with over 12 years of experience in hospitality finance, Currently, he is managing 15 hotels in Myanmar.

Once you have completed all Modules, you will get entitled to Get a Master Class Certificate issued by “E hotel management school” separately in addition to the completion certificate issued by UDEMY for Completing each module.

Who this course is for:

hospitality operation professionals
finance professionals
hotel management students

M3-Hotel Finance USALI - F&B Cover Analaysis, P&L, Food Cost

What you'll learn

Explore related topics

Course content

Overall Template and Revenue Section4 lectures • 34min

F&B Department Expenses9 lectures • 1hr 5min

Statistics and Analytical Reports4 lectures • 40min

BONUS LECTURE1 lecture • 1min

Requirements

Description

Who this course is for: