SPA 367

SPA 367 Financial Management for Spas
Spa Management


SPA 367 provides spa managers and other spa professionals with the financial management skills they need to succeed. This course includes payroll accounting, inventory, income statements, ratio analysis, pricing, menu engineering, operations budgeting, revenue management, cash management, capital budgeting, lease accounting, and business plan development.

Learning Outcomes

Identify and describe generally accepted accounting principles.
Outline the nine steps of the accounting cycle.
Explain the importance of containing payroll costs.
Describe the elements of a spa’s compensation plan.
List types of spa inventory and outline the perpetual and periodic inventory systems.
Differentiate between and use the different types of inventory monitoring systems.
Identify the users of income statements and describe the income statement’s relationship to the balance sheet.
Explain the purpose of the Uniform System of Financial Reporting for Spas.
Calculate and explain ratios commonly used in the spa industry.
Summarize the limitations of ratio analysis.
Identify key concepts and concerns related to pricing.
Use markup and bottom-up approaches to pricing spa services and products.
Explain the process of preparing an operations budget.
Use information from budget reports to calculate and analyze several kinds of variances related to revenue, cost of goods sold, and labor.
Define revenue management and explain how to use it properly.
Describe various ways to measure revenue management results.
Distinguish between income and cash flows and explain why the distinction is critical.
Prepare a bank reconciliation.
Describe the relationship of capital budgeting to operations budgeting.
Identify some of the advantages and disadvantages of leases and describe common lease provisions.
Discuss the need for business plans.
Outline information that should be included in a spa positioning statement.

Required Materials (Course Pack)

The Required Materials (or Course Pack) cost—including standard shipping within the United States—is $91.00. This includes:

  • Online Materials and Library Resources (OMLR) - $66

Get the most up to date information about required textbooks for this class, including ISBN, edition and price, by visiting our Required Textbooks page

Total Course Price: $330 (2 credits x $165 per credit) + $91 Course Pack + $99 Textbook = $520

    • Does not include Registration Fee, which is $200 per program or $30 per credit if enrolling in single courses.

    Maximum Enrollment

    30 students


    Updated 7/22/18

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