I recently delivered Manage Budgets and Financial Plans to my Diploma in Management students. I was surprised to know that few of them already have expertise in accounting/book-keeping, and chose not to continue in same field as they found limited career options.
I educated them saying every successful business revolves around successful financial model. This simple principle goes for any business, whether retail, manufacturing, and is certainly true for hospitality business too as it is one of the world’s largest service industry.
Every department of hotel follows accounting principles, whether room division, food and beverage, payroll, inventory, or sales and marketing. Employing financial and budgetary strategies on how to reduce expenses, increase sales in shoulder period, helps you to get increased profits and maximise the performance in every area.
A proper accounting system is important to any business in order to manage its daily functions, and keep the business running successfully. Every business aims to maximise profits, minimise loss; and at the same time maintain its position in the market. It goes without saying that your understanding of Accounting systems in a Hospitality environment ( which is a unit of competency for our Diploma and Advanced Diploma of Hospitality) will go a long way in making you a valuable potential employee for all employers. At Salford College we recognise this and our international students in Hospitality are taught this.
We can offer you skills and knowledge required for hospitality management, and if you have required proficiency of accounting, together you are looking at a new built career.
Hospitality, Business and Management Trainer