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Detail |
| The Pricing Decision and Profitability Analysis | Cost control and organizational structure.
Calculating direct and indirect costs including apportionment of overheads.
Calculating total cost of a products/services in a multiproduct multidepartmental enviroment.
Pricing decisions based on market conditions.
Pricing to optimize profit using cost and market data.
Pricing strategies in special situations.
Customer Profitability Analysis. |
| Budgeting and planning | Purpose of budgets and strategic planning in the Hotel industry.
Collection of data - Historical, industry trends and competitor information.
The annual planning cycle - Functional and master budgets
Cash Budgets and rolling cash projections.
Behavioural aspects of planning and budgeting.
Sources of Finance.
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| Standard Costing and Performance Evaluation | Application of Standard costing and Variance Analysis to the hotel industry.
Monitoring performance against plans and budgets.
Profit reconcilation statement, variance reports
Measurement Key performance/non financial Indicators from Howarth Crowe stats. [KPI] applicable to the hotel industry.
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| Capital Investment Appraisal | Factors for consideration in assessing capital projects.
The long term objectives of a hotel business.
The financial appraisal of hotel investments.
Collecting data for project evaluation.
Appraisal techniques for aiding capital investment decisions.
Qualitative factors in capital investment decisions.
Post audit of Investments.
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| Cost Volume Profiit Analysis | The behaviour of cost and revenue against output.
Break-even analysis, contribution theory and business-mix decisions.
Profit maximization where resources are limited.
RevPar and yield management.
Make or Buy decisions. |
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