The success of all businesses is based on the accurate interpretation of financial information and management of income and expenditure budgets. Even if you have the best customer service and the most modern of facilities, if you misjudge how much money you can spend then your business may fail.
Interpret Financial Information
Overview of module
Everyone within the organisation has an impact on the financial success of the business, from frontline service staff to department managers and the Financial Controller. In this unit we will discuss the basics of accounting; explain commonly used terms and reports you may be required to analyse; and discuss ratios and other tools you can use to correctly interpret financial information.
Estimated time to complete this module is 130 minutes.
Components in this Module
1 - Introduction
2 - Basic Accounting
- Basic Accounting
- What is Accounting?
- Users of Accounting Information
- Who Performs the Accounting within a Business?
- Accounting Concepts and Principles
- Accounting Processes
- Checkpoint 1
- Methods of Accounting
- Damage Control - Cashflow Hell
- Methods of Accounting 2
- The Accounting Equation
- The Accounting Equation 2
- Other terms
- The Accounting Equation 3
- The Accounting System
- Damage Control - Bookings
- Processing Journal Entries
- Checkpoint 2
3 - Types of Financial Information
- Bank Reconciliations
- Other Banking Documents
- Checkpoint 3
- Source Documents
- Transaction Reports
- Account Summaries and Balances
- Business Activity Statement
- Receivable Reports
- Cashflow Reports
- Management Reports
- Supporting Reports
- Other Management Reports
- Checkpoint 4
4 - Applying Financial Information
- Areas of a TH&E Business
- Damage Control - Promotional Materials
- Kitchen 2
- IFI Reality Check: Menu Development
- IFI Reality Check: Food Costs
- Restaurant and Bar
- IFI Reality Check: Staff Percentage Increase
- IFI Reality Check: Follow-up Meeting
- Front Office
- Tour Bookings
- IFI Reality Check: Increase Revenue
- Reviewing Financial Information
- Business Performance Indicators and Benchmarks
- Financial Ratios
- Financial Ratios 2
- Financial Ratios 3
- Financial Ratios 4
- Damage Control - Profit or Loss
- Damage Control - Angry Creditors
- Financial Ratios 5
- Decision Making
- Communicating Financial Information
- Checkpoint 5
No previous knowledge or experience is required.
The online courses are made up of a number of learning modules. Each module has an estimated time to complete them (click on the ‘i’ next to the module to get the time).
The time to complete a module can vary based on your existing knowledge of the material.
No need to finish the course in one session. You can log in and out as many times as you like, until the course end date. The course end date is shown when entering the training. The system remembers what you have completed and you can continue on from where you left off.
How does it work?
Once we receive confirmation of your payment (which could take up to 24 hours), you will receive an email with your login details. Go to the login page which will be emailed to you. Enter your details then click on the name of the course when you are ready to start.
How do I pay?
Pay with mastercard or visa through our secure PayPal internet payment facility. You can also select to ‘Generate an Invoice’ or ‘Make An Enquiry’ and we will get back to you with a group pricing as a quote or submission for you to respond to.
Who should do this course?
These courses are for anyone who wants to learn more or wants to extend their resume by becoming more knowledgable in their company.
How will I be assessed?
Each module is broken into sections with checkpoints, interactive challenges and quiz questions throughout. You are required to go through each section and answer every question correctly to be deemed competent. If you answer any questions incorrectly, you will be given feedback on which question you answered incorrectly. You can then correct your response and continue.
Will I receive a certificate?
These are non accredited corporate-based short courses and if successful you will receive a Certificate of Completion.
Steps to proceed with enrolling in a Course
Step 1 – Select a Course(s) by adding it to the Shopping Cart.
Step 2 – Pay for the course (using Paypal).
Step 3 – Once we have received the payment we will send you an email confirming your order.
Step 4 – This email will have instructions for connecting to the course, your login ID and password.
Step 5 – Complete the online course.
Step 6 – Once the course has been successfully completed, you will have access to your certificate.