The new certificates demonstrate a professional’s expertise on the widely used Uniform System of Accounts for the Lodging Industry (USALI). Course discounts available through August 31, 2020
Hospitality Financial and Technology Professionals (HFTP®) is debuting two new professional certificates which demonstrate one’s expertise in the USALI 11th Revised Edition: The USALI-11 Certificate, Theory and USALI-11 Certificate, Practice. Each certificate is a four-module course which cover the concepts, organizational structure and application of this industry-wide reporting standard. Developed by Ascend, a hospitality talent development company, the courses are available to all, with no previous experience required.
“In late 2018, HFTP acquired the copyright to the USALI. While the association has been involved with the resource since its inception, our increased involvement demonstrated to us how integral the guide is to the financial operations of hotel companies,” said HFTP Deputy CEO Thomas Atzenhofer, CPA. “Developing and offering the Certificates are a definitive way for hospitality professionals to prove to their employers their ease with this essential resource.”
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.
“Ascend had been in discussions with HFTP on rolling out these certificates. When all the changes started to happen to our industry, we reached out to HFTP and suggested that it would be our privilege to give back to our membership and build these courses at no cost to our association,” said Ascend’s principals Agnes DeFranco, Ed.D., CHE, CHAE, CHIA, CAHTA and Arlene Ramirez, CHE, CHAE, CHIA, CAHTA. “Ascend is offering both certificates complimentary to the first 50 HFTP members to apply who are furloughed and will donate half of any future revenue received back to HFTP for use on membership services.”
Each certificate is a four-module course. Participants receive 24/7 access and have three months to complete each module. Once a module is completed, the participant will be required to take a 20-question assessment that needs to be passed with 100 percent accuracy. Participants will have unlimited attempts to achieve this perfect score. Once done, the participant will move on to the next module.
Upon successful completion of the entire certificate course, registrants will receive a digital badge and certificate recognizing their achievement and new knowledge base.
In addition to the first 50 free offer to HFTP Members who have been furloughed, HFTP in partnership with Ascend are providing an introductory “Pay it Forward” discount for the new Certificate courses. The cost is $75 USD per module or $250 USD per certificate bundle (a combination of all four modules) through August 31, 2020. On September 1, 2020 the regular price structure will apply: $300 per module and $1,000 per certificate course.