High-level summary of the procedures and controls needed to make sure there are no frauds or leaks. Hotel oversight and documentation.
£9.99 inc. VAT
Hotel and restaurant revenue, as well as collections, are highly vulnerable to fraud and misuse due to inherent risks, cash transactions, and a high turnover rate. Efficient hotel management practices typically incorporate processes to control revenue and cash leakage.
To safeguard revenue, it is crucial to establish a robust control system with checks and balances in place.
This course presents a live recording of our physical workshop in Yangon, where we delved into different risks and countermeasures aimed at detecting and preventing revenue leakages.
The content of the class will be continuously updated based on student feedback, questions, and the incorporation of additional topics in the future.
If you work as a revenue auditor, chief accountant, finance manager (particularly from a non-hospitality background), or an operations manager in rooms or F&B, this course will equip you with an understanding of the importance of various control measures and how to effectively implement them.
You will have the following skills after completing this course:
- Comprehend Reporting and Recording Obligations within the Hotel Sector
- Implement Spot Checks and Verification Processes to Ensure Completeness and Accuracy
- This session does not focus on report creation.
- Gain Insight into Risks Inherent in the Hotel Industry Revenue Cycle and Learn how Analysing Various Reports Facilitates Mitigation.
Who will benefit from this course?This Hotel Management – Revenue Controls & Income Audit Process course is designed to benefit individuals in various roles within the hospitality industry. The following professionals will find this course particularly valuable:
- Revenue Auditors: Individuals responsible for auditing and ensuring the accuracy of revenue-related processes in hotels.
- Chief Accountants: Professionals holding key financial positions within hotels who want to enhance their understanding of revenue controls.
- Finance Managers (from non-hospitality background): Those in financial management roles without prior experience in the hospitality sector seeking insights into revenue control measures.
- Operations Managers of Rooms: Professionals overseeing the operational aspects of hotel rooms and accommodations.
- Operations Managers of Food and Beverage (F&B): Individuals managing the operational aspects of food and beverage services within hotels.
Why Should You Take This Online Course?
- Expertly Designed and Delivered by Industry Experts: Developed and delivered by MANISH GUPTA - Hospitality Finance Expert and Business Strategist
- Immediate Recognition with an Instant E-Certificate: After finishing our online course, you will receive an instant E-certificate. This certification acknowledges your dedication and successful course completion, allowing you to demonstrate your newly gained knowledge and skills to potential employers, colleagues, or clients. The E-certificate validates your accomplishments immediately, raising your professional standing.
- Convenient Online Learning Experience: Because our course is entirely online, you may learn at your own pace and convenience. The course materials are accessible from anywhere and anytime, making it ideal for people with hectic schedules. The curriculum is delivered via captivating videos and extensive reading materials, creating a dynamic and interactive learning experience.
- Self-paced Learning for Maximum Progress: We recognise that everyone has various learning styles and time commitments. As a result, our online course provides self-paced study. You can work through the course materials independently, allowing for a more personalised learning experience. Our course supports your individual learning preferences, whether you like to immerse yourself in the information or take it step by step.
- Laptop, tablet, and smartphone compatibility: Our online course is device-compatible to improve accessibility. Whether you choose a laptop, tablet, or smartphone, you may easily access and interact with the course contents. This adaptability allows you to learn on the go, incorporating your studies into your everyday routine and maximising your learning possibilities.
Career prospects after completing this course:Upon completing the Hotel Management – Revenue Controls & Income Audit Process course, individuals can expect to enhance their career prospects in the hospitality industry. Here are some potential career benefits:
- Revenue Auditor: Acquire the skills needed to excel in roles specifically dedicated to auditing and ensuring the accuracy of revenue-related processes within hotels.
- Financial Controller or Chief Accountant: Progress into higher-level financial roles within the hospitality sector by demonstrating expertise in revenue controls and income audit.
- Finance Manager (Hospitality Sector): Stand out in financial management positions within the hospitality industry, armed with a deeper understanding of revenue management.
- Operations Manager (Rooms or F&B): Strengthen your operational management skills, particularly in areas related to revenue, making you a valuable asset in roles overseeing rooms or food and beverage operations.
- Consultant in Revenue Management: Explore opportunities to work as a consultant, advising hotels on optimising revenue controls and income audit processes.
- Career Transition into Hospitality: If you are transitioning from a non-hospitality finance background, this course can facilitate a smoother entry into finance roles within the hospitality sector.
- Entrepreneurial Ventures: Gain insights into effective revenue management practices that can be valuable if you plan to start your own hospitality-related business.
- Continuous Professional Development: Stay competitive in the industry by continuously updating your skills based on feedback and additional topics covered in the course.
Industry Expert Instructor
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- Overview of Income Audit Functions 00:08:00
- Qualities of Income Auditor 00:14:00
- Fundamental Terms Explained 00:09:00
- Room Segmentation and why its important 00:13:00
- Trial Balance 00:09:00
- Sample format of Daily Revenue Reports 00:07:00
- Revenue Control Aspects 00:09:00
- Rate Variance Report and Room Discrepancy Report 00:11:00
- Rebates and Collection Controls 00:14:00
- Other Reports Explained (Credit Card Batch,Comp Report, Entertainment Summary) 00:08:00
- Spot Checks 00:18:00
- What’s Next? 00:00:00