ASHA unveils first hotel & restaurant accounting program

MANILA, Philippines - Finally, entry or middle-level professionals in the hospitality industry now have a chance to climb the ranks fast through a new program that will prepare them to become decision-makers of their companies. The Asian School for Hospitality and the Arts (ASHA) is now offering the country’s first Hotel and Restaurant Accounting program (Bookkeeping NCIII), which will be certified on the Technical Education and Skills Development Authority (TESDA) qualifications.

Industry Need

Atty. Francisco B. Gonzales, ASHA school director of accounting and former executive director of the Philippine Institute of Certified Public Accountants (PICPA), revealed that a growing number of establishments in the country has more than doubled the demand for bookkeepers and accountants every year.

“Based on the 2003 National Statistics Office (NSO) records, there are 717,962 business establishments in the country,” he noted. “In the 2005 NSO survey, about 91,791 are restaurants, while 4,021 are hotels. These figures go up and down by three percent depending on the economy. But clearly, all will need a bookkeeper. Not everyone will hire a full-time accountant. However, they will need somebody who can manage and at the same time keep the records intact and make decisions. The ideal candidate is one who can read the financial records and analyze data.”

But the present situation shows that there is a shortage of properly trained bookkeepers and accounting clerks who can fill these positions.

“The common problem is where do we find good accountants? There are over 3,000 accounting students who graduate twice a year, but they are being employed either by big companies or hired abroad,” lamented Atty. Gonzales.

Skills Upgrading

Hence, ASHA believes that the best way to address this shortage is to capitalize on the skills of professionals and further train them in bookkeeping/accounting to help them become better managers.

“In the restaurant or hotel business, a chef or a cook only does work in the kitchen. But if he or she knows how to do proper costing on the raw materials, put a price on a meal, compute and analyze figures, that person can even manage the place. Hotel and restaurant personnel with financial backgrounds are considered to be good manager material. Most likely, they get promoted to that position or become better management accountants,” he said.

Gonzales added that college students who graduate with an accounting degree or pass the CPA exams may know how to read and analyze figures but he or she night not be ready in real-life business situations.

Proper Training

Professionals and even high-school graduates can take the Hotel and Restaurant Accounting program at ASHA. After taking the exam, they receive TESDA certification. From this first level of basic knowledge on bookkeeping, they can move on to upgrade their qualifications by taking the second module, Business Management, which is based on the standards of the Chartered Institute of Management Accountants (CIMA).

ASHA’s partnership with CIMA will give its graduates certification or a diploma from a globally recognized institution responsible for producing management accountants and business managers.

Tam K. Peng, director of Learning and Development at CIMA, said that holders of its various programs have an international edge and wider job opportunities in the world’s top firms because a CIMA qualification is one of the most respected and recognized in the world, especially in Europe. At present, there are 172,000 members and students holding top-level positions in 168 countries.

“Management accounting is all about decision-making. In every organization, we need to make decisions because this is crucial for a business to survive. Why do hotels give lower rates during off-season? Why do airlines have budget fares and how low should it go? These are all management accounting issues every day. CIMA focuses little on accounting standards or auditing. We focus a lot on management revenue. Basically, CIMA trains one to become a potential chief financial officer or chief executive officer of a company,” Peng pointed out.

Industry practitioners and experts will conduct the Hotel and Restaurant Accounting Program in ASHA. CIMA offers 15 programs built on three learning pillars: the enterprise pillar, performance pillar, and financial pillar. Each pillar contains three subjects, one at each level. These are the operational, management and strategic subjects.

According to Peng, the CIMA diploma in Management Accounting will be given upon completion of the operational level, while the CIMA advanced diploma in Management Accounting is for the management level.

To qualify as a chartered management accountant, one should complete all the subjects in all levels and take the test of Professional Competence in Management Accounting, which consists of work-based practical experience and a case-study exam.

Added Value

Gonzales noted that the CIMA certificate has an important value that can come very handy. “Unlike a CPA license, holders are only recognized in the Philippines and can only practice their profession here. But the CIMA certificate has value everywhere.”

Other than the value for others, Gonzales said graduates of the program will add more “value” for themselves.

“What we are offering is a Quality Skill Immersed Education (QSIE). If you want to open a restaurant, you can get an ASHA graduate who will not only fix your records but even help you run the place. The advantage of this program is that you look forward to the future. To expand your business, you have to make good management decisions, which a CIMA graduate can do,” concluded Gonzales.

ASHA has several campuses, located in Antipolo in partnership with Seven Suites Hotel Observatory; ASHA Quezon City, in partnership with The Orange Place Quezon City; ASHA San Juan, in partnership with The Orange Place San Juan; ASHA West Avenue, in partnership with TCB West Avenue, and ASHA in Tagaytay, in partnership with Summit Ridge Hotel. For inquiries, call 506-7007 or 217-5444, e-mail angiesd.ashaschool@yahoo.com or visit www.asha.edu.ph.