Financial Management

Many hospitality organisations, large and small, throughout the UK and worldwide, utilise the Financial Management course as part of their career progression programmes.It is seen by many as a first step in gaining a full accounting qualification, such as CIMA.

'In a nutshell'

The course provides students with the knowledge necessary to be able to manage hospitality finance divisions.

Course Overview

• The ETPFM is studied in 3 Stages, each taking approximately 6 months to complete
• It is a flexible learning programme, thereby ensuring that students can fit their learning around their busy working days
• The course was designed by experienced finance educators and industry professionals
• Each Stage is assessed by a combination of 4 assignments and an examination. The final Stage also requires the submission of a Learning Plan - a piece of work reflecting on your progress throughout the course
• Students are provided with learning materials and a range of other resources, including access to EBSCO, the leading online research database
• Students have access to the HOSPA online classroom, enabling them to exchange information and ask the tutor questions
• The course costs £750 ex VAT per Stage
• Students receive complementary Ordinary Membership of HOSPA during their studies (click here to read the Membership benefits)
• Students need to be numerate and literate in the English language and preferably work in the finance department of a hospitality organisation.
  
  To read more about the ETPFM course, please click on the links below

  ETPFM Course Summary (389.9 KB)

  FAQ about the ETPFM (375.2 KB)

What will I study?

• Stage 1 - Introduction to Financial Accounting

• Conceptual Framework
• Data processing
• Preparation of accounts
• Internal audit and control

• Stage 2 – Operational Management Accounting

• Elements of cost
• Budgetary control
• Costs for decision making
• Presentation of information

• Stage 3 – Strategic Management Accounting

• Strategic planning and forecasting
• Financial strategies for growth
• Interpretation of performance
• Control of working capital

To view the detailed sylabus of all three Stages, please click on the link below.

Detailed Syllabus (358.3 KB)

Who is the course for?

The ETPFM is for aspiring hospitality accounting professionals who:

• Wish to gain the skills and knowledge required to manage hospitality finance devisions
• Wish to gain an understanding of the accounting function of a hospitality unit

Benefits for Students

• First steps in gaining an accounting qualification
• Improved promotion prospects
• Better earning potential
• Complementary Membership of HOSPA 
• Successful completion of the full course grants Associate Membership of HOSPA (AHOSPA Cert.)
• The course is accredited by CIMA - Completion of the course leads to exemption from CIMA papers 1 & 2 of their Certificate in Business Accounting
• The course is accredited by the Open University - Each Stage receives a credit rating  from the Open University. Students can offset their credits against further study at the OU or other higher education institutions (click here for full details from the OU website)

To read more about the course benefits for students, please click on the link below.

ETPFM Candidate Information Sheet (351.4 KB)

What students have to say about the ETP in Financial Management

"I have a greater understanding and knowledge of the business and can help reduce costs whenever possible." Dilek Dikmen, Financial Controller, Park Inn  Leigh, Manchester. 

"I use many of the skills gained through the ETPFM such as budgeting, cost control, forecasting, working capital management and strategic planning." Rajesh Dhir, Cluster Finance Manager at Hilton. 

"My employer required a qualification in accounting for further advancement and the  ETPFM seemed a quick, straightforward way to obtain this. Now, as FC of a new hotel, I'm part of a small leadership team, heading up a small accounts team of quality people." Wolfgang Bendl, Financial Controller, Augustine Hotel, Prague.

"Having completed the ETPFM, I felt confident enough to apply for the Financial Controller post when it became available. I would certainly recommend the course to anyone who, like me, hasn't got a formal accountancy background." Fabien Ecard, Financial Controller, Bleeding Heart Restaurant.

Benefits for Employers

• Enabling employees of the future
• Through employee training, businesses can benefit from improved employee retention levels, better succession planning, reduced recruitment costs and a more motivated workforce
• As the ETPFM is seen by many as the first step in gaining a full accounting qualification, the course represents a quick and sound investment in future finance managers

To read more about how an employer can benefit from the ETPFM, please click on the link below.

ETPFM Employer Information Sheet (400.4 KB)

"I totally support the ETPFM. It is the only financial training programme that is specifically designed for our industry and my employees appreciate that it is 100% relevant to them. Acceptance on the the programme is highly motivational and employees who have undertaken the course are always identified as high potential colleagues. In addition, the benefit to Starwood Hotels & Resorts is clear to see as we have better trained employees who can understand the whole picture, rather than just their own job function." Patrick Divall, Area Director of Finance England, Starwood Central London Hotels. 

We are now taking enrolments for the September 2012 intakes to the Financial Management course!

Interested? If you wish to receive more information about the Financial Management course, please contact Jane Scott on 01202 889430 or jane.scott@hospa.org.

To enrol for the ETPFM, please fill in the application form below and email it to jane.scott@hospa.org.

ETP Application Form (275.9 KB)