Feeling unable to explain your agency’s financials? Are you frustrated that you don’t understand accounting transactions or your financial statements? Why are they so important?
Your agency’s financial health is key to the survival of your business; analyzing and controlling your finances leads to strong business plans and better strategic decisions. Learn to speak accounting language, grasp accounting principles and interpret financial statements to assess and steer your business. This step-by-step, interactive online course walks you through practical accounting and finance procedures and proven strategies for profitability. Supporting case studies and simulation activities makes this course practical and stimulates creative thinking to help you assess whether your business meets the requirements of investment, government and industry regulators such as IATA.
How will you benefit?
Upon completing this course you will be able to:
- Interpret standard annual and management accounts : income statement, balance sheet, cash flow, budget and forecast workbooks
- Analyse financial data to make business decisions and draft a business plan
- Create a budget according to the business plan, track performance and forecast with action plans
- Choose an accounting system that supports business goals and needs
- Define cost saving strategies to manage unpredictable costs
- Identify financing options best suited to the travel agency’s needs and goals
- Benchmark your business performance against IATA accreditation criteria and ratios
Designed For/ Who should join
This course is recommended for existing or aspiring:
- Retail and wholesale travel business owners, managers, and supervisors
- Independent travel consultants and home-based agents
- Travel shop accounting and finance staff
- External accounting consultants and service providers
- Plan-Do-Check-Act (PDCA) cycle and business planning at a travel agency
- Financial reports, annual and management accounts
- Accounting systems and data management
- Budgeting and forecasting
- Cost and cash flow management, and financing options
- Exam Delivery Method: Non-supervised online-based exam. Exams can be taken any time at your convenience.
- Exam Format: Multiple Choice questions
- Number of questions: 60
- Time Allowance: 2 hours
- Passing Grade: 70% correct answers
- Number of exam attempts: 2