Moderated by: Agnes DeFranco and Arlene Ramirez
In a time when hospitality finance professionals are unsure about the state of their profession – when many have been laid off or furloughed and other job outlooks remain unclear – you can empower yourself through professional development. Many organizations have stepped up to offer virtual networking opportunities, online webinars and certificate programs at discounts to help professionals build new skills and improve their marketability.
HFTP is no exception. The association has placed a strong, continued focus on developing the tools and resources to help hospitality financial and technology professionals excel in their workplace and advance their careers.
For that reason, HFTP has partnered again with Ascend on two new certificate courses for HFTP members: the USALI Theory and Practice Certificates. The launch of these certificates was the focus of the HFTP Hangout for the hotel segment on Thursday, April 16. The Hangout was moderated by Agnes DeFranco, Ed.D., CHE, CHAE, CHIA, CAHTA and Arlene Ramirez, CHE, CHAE, CHIA, CAHTA.
Each certificate is a four-module course that will provide insight into the current edition of the Uniform System of Accounts for the Lodging Industry with the USALI-11 Theory Certificate and the USALI-11 Practice Certificate. They will cover the concepts, organizational structure and application of this industry-wide reporting standard.
Paying It Forward
Ascend and HFTP both believe in paying it forward. Ascend has donated the development time for this project, along with providing 50 HFTP members who have been furloughed from their jobs free access to complete both the Theory and Practice Certificates. For more information on how to be a part of this “First 50 Free” Campaign, email firstname.lastname@example.org.
HFTP and Ascend are also offering any other HFTP members the “Pay It Forward” rate of $75 per module or $250 per certificate course (a combination of all four modules) through August 31, 2020. After that date, the regular rate will be $300 per module and $1,000 per certificate course.
An additional benefit: You can complete these certificates from the comfort of your home while you are practicing social distancing.
About the USALI
The primary purpose of the USALI is to offer operating statements formatted to provide hotel owners, managers and other interested parties with operational informational pertinent to the lodging industry.
The histories of the USALI and HFTP are closely intertwined. In 2018, HFTP acquired the copyright to the USALI, a logical step as the association has been connected to the resource since its origins as a sponsor and contributor. The most current edition of the USALI is the 11th revised edition. The text is available for purchase in hard copy and digital format. Visit the HFTP website to purchase your copy.
Overview of the Certificates
Why engage in a certificate program like these? Certificates provide valuable instruction, training and most importantly recognition of a specific practice or skillset – in this case, your mastery of the concepts, structure and learning outcomes related specifically to the USALI. These assessments test your understanding of the use and application of USALI.
The USALI-11 Theory Certificate covers the layout and content of the financial statements for each operating department and undistributed departments. In addition, the course reviews the Non-operating Income and Expense section, net vs. gross revenue reporting, and ratios and metrics provided in the USALI 11th Edition.
The USALI-11 Practice Certificate takes the knowledge base from the theory course and applies numbers to provide insight on how best to analyze and interpret the information in the financial statements. Emphasis is placed on vertical, horizontal and ratio analyses.
Each certificate is a four-module course. You receive 24/7 access and have three months to complete each module. Once you complete an entire module, you will be required to take a 20-question assessment that you will need to pass with 100 percent accuracy. You will have unlimited attempts to achieve this perfect score. Once you do, you move on to the next module.
Upon successful completion of the entire certificate course, registrants will receive a digital badge recognizing their achievement and new knowledge base to display on their LinkedIn profiles. When current or potential employers click on the badge, they will receive an accurate picture of everything you did to achieve that certificate.
The Ascend platform, where you will go to complete each certificate course, also offers resources including PowerPoint presentations and videos that go through explanations of the materials.
The Structure of the Four Modules (A Snapshot)
- Module One: Summary Operating Statement and Operating Departments Summary Operating Statement
- Module Two: Undistributed Departments
- Module Three: Non-operating Income and Expenses; Allocated Departments; Gross vs. Net Revenue Reporting
- Module Four: Ratios and Metrics
If you are interested in applying for a spot in the “First 50 Free” Campaign or taking advantage of the “Paying It Forward” rate, please email HFTP Certification Manager Robin Bogdon at email@example.com.
Briana Gilmore is the HFTP Communications Coordinator. Briana can be reached at Briana.Gilmore@hftp.org or +1 (512) 220-4017.