Financial Fluency: Budgeting and Forecasting Demystified


About This Course

This 16-hour course covers key principles of accounting and the systems of accounts used in the hospitality industry and the tools for analysing the financial statements and the concept of cost behaviour to facilitate business decision.


Course duration: 16 hours


Session: 2 Full Days, 9am – 6pm

Who Should Attend

Mid-level managers such as F&B Managers, Executive housekeepers, Front Office Managers

What You’ll Learn

At the end of the course, you will be able to:

  • Apply the basic concepts and principles of accounting
  • Use the Uniform Systems Of Accounts For Lodging Industry (USALI)
  • Prepare Financial Statements
  • Analyse financial statements
  • Use financial information to make decisions
  • Analyse cost behaviour
  • Minimise the amount of working capital needed
  • Update and monitor rolling cash forecast to manage cashflow
  • Prepare budget
  • Analyse internal and external factors that can affect forecasting

Course Outline

  • Financial Reporting
  • Analyzing Financial Statements
  • Managing Working Capital and Controlling Cash
  • Budgeting and Budgetary Control

Course Structure

  • Methodology

    Lecture, case studies, discussions and hands-on practice

  • Assessment

    Pre-course and post-course written assignments

  • Certificate

    Upon successful completion of the course, participants will receive a Certificate of Achievement issued by SHATEC.

Course Fees

Full Course Fee incl. 9% GST S$ 604.80
1,2,4,6 Nett Course Fee Payable after SSG Grant, incl. GST
(Singaporeans/PRs/Long Term Visit Pass Plus Holders ≥ 21 years old)
Not Applicable
3, 6 Nett Course Fee Payable after MES Grant, incl. GST
(Singaporeans ≥40 years old)
Not Applicable
6, 7Nett Course Fee Payable for SMEs, incl. GST Not Applicable

5Absentee Payroll

Not Applicable

View Payment Terms

* In accordance with the Budget 2022 announcement, the GST rate will be increased from:

(i) 7% to 8% with effect from 1 Jan 2023; and

(ii) 8% to 9% with effect from 1 Jan 2024.

9% GST will apply to full payments received by SHATEC from 1 January 2024 onwards. Full payments received by SHATEC before 1 January 2024 will have no adjustment to the 8% GST. Please refer to for more information on the GST rate change.

Payment Mode

The following payment modes are available:

  • Bank Transfer
  • PayNow
  • Credit Card
  • Internet Banking
* indicates required