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Basic Lodge Accounting
Course

Basic Lodge Accounting

Self-paced

R7,950 Enroll

Full course description

Course Rationale

This course provides participants with an understanding of accounting principles and financial management specifically geared towards the safari and lodging industry. It covers essential topics such as surveying financial statements, analysing the income statement and balance sheet in lodge and restaurant contexts, addressing specialized accounting needs for food and beverage services in the industry, introducing budgeting and forecasting techniques relevant to safari and lodging operations, and establishing strong internal controls for cash management. By the end of the course, participants will have the knowledge and skills to navigate the unique financial intricacies of lodges and restaurants in the safari and lodging sector. They will be well-prepared to make informed financial decisions, manage resources effectively, optimize profitability, and ensure financial sustainability within the industry.

 

Learning Outcomes

  • Understand the foundational principles and concepts underlying the field of accounting. 
  • Recognise the significance and structure of primary financial statements. 
  • Differentiate between various types of income and expenses highlighted in the income statement. 
  • Analyse the elements of a balance sheet to determine a lodge's financial health. 
  • Appreciate the role of budgeting and forecasting in financial planning and management. 
  • Implement and evaluate internal control systems to safeguard and optimise a lodge’s cash resources.

 

Topics Covered

  • Accounting – a management resource
  • Survey of financial statements
  • Exploring the income statement
  • Exploring the balance sheet
  • Introduction to budgeting and forecasting
  • Internal control of cash

 

By the end of this course, participants will be able to:

  • Interpret and leverage primary financial statements, including the income statement and balance sheet, for informed decision-making. 
  • Evaluate a lodge's profitability and financial position using detailed financial statement analysis. 
  • Develop, utilise, and adjust lodges budgets and forecasts to respond to changing environments and needs. 
  • Implement robust internal controls to manage, protect, and streamline a lodge's cash transactions and balances.