The HFTP 2005 Annual Convention & Tradeshow to cover cutting-edge club topics.October 26-29 * Radisson Plaza Hotel The Plaza Hotel in New York City is a landmark 19-story luxury hotel with a height of 250 feet (76 m) and length of 400 feet that (122 m) occupies the west side of Grand Army Plaza, from which it derives its name, and extends along Central Park South in Manhattan. & Myrtle Beach Convention Center Myrtle Beach Convention Center is a 8,000-seat multi-purpose arena in Myrtle Beach, South Carolina. It hosts various local concerts and sporting events for the area and was the home arena for the Myrtle Beach Stingrays of the National Indoor Football League in 2003. * Myrtle Beach, S.C. Every year, HFTP's Annual Convention & Tradeshow offers professional links to hundreds of attendees via its high-quality education, networking opportunities, tradeshow and great social events. This year, the education program will consist of inspirational in·spi·ra·tion·al adj. 1. Of or relating to inspiration. 2. Providing or intended to convey inspiration. 3. Resulting from inspiration. general sessions and industry-relevant concurrent sessions covering current topics and trends, including sessions that focus on clubs and technology. In addition to the education program, the tradeshow will have exhibitors representing companies that offer a mix of hospitality industry services such as a variety of software, insurance, tax consultants, human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. , Internet marketing See Internet advertising. and financial management solution providers. 2005 Club Track Session Descriptions: The Fraud Examination Process If you find yourself in the middle of a fraud crisis and need help, then come to this session and find out what will happen next. This session will teach you the process of how to contact a fraud examiner, when to go through an attorney, what certified fraud examiners Certified Fraud Examiner (CFE) is a designation awarded by The Association of Certified Fraud Examiners (ACFE). The ACFE is a 41,000 member-based global association dedicated to providing anti-fraud education and training. should provide that will help you, how to correct the controls your business needs to move on, and most important, how to use the process to protect yourself. Tax Issues and Financial Trends in City and Country' Clubs How has the club business been impacted by an economy that has been inconsistent in its performance? Why can't clubs make money in the food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. area--or can they? Rounds are up but membership is down. What does this mean for the clubs? What other trends should clubs be noting as they move forward? U.S. tax issues also remain a critical concern in operating a club. This session will cover unrelated business income, its proper reporting and record-keeping requirements, exempt function and reciprocal Bilateral; two-sided; mutual; interchanged. Reciprocal obligations are duties owed by one individual to another and vice versa. A reciprocal contract is one in which the parties enter into mutual agreements. income, allocation issues, traditional activities, guest fees, and sale of property. The IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. is increasing its enforcement budget. Is it focusing on clubs and what do we need to do to get ready for when they come in the door'? $1,000,000 Club Tax Issues to Avoid There appears to be about five times in the life of a club that being tax-exempt under Section 510(c)(7) of the U.S. Internal Revenue Code The Internal Revenue Code is the body of law that codifies all federal tax laws, including income, estate, gift, excise, alcohol, tobacco, and employment taxes. These laws constitute title 26 of the U.S. Code (26 U.S.C.A. § 1 et seq. could be extremely important. If avoiding a potential "million dollar" tax assessment is important to you and your club, this is the session for you to attend. Keeping Your Club Out of Trouble in Today's Environment This session will discuss how to improve your club's corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. including the establishment of audit committees, internal controls, conflict-of-interest policies, prohibition prohibition, legal prevention of the manufacture, transportation, and sale of alcoholic beverages, the extreme of the regulatory liquor laws. The modern movement for prohibition had its main growth in the United States and developed largely as a result of the of loans to officers and directors, audit panner rotation and separate audit and consulting providers. You will learn what two areas of the Sarbanes-Oxley Act See SOX. of 2002 apply to your club. In addition, this session will discuss advertising, corporate memberships and other tax issues that could adversely affect your tax-exempt status. The Fraud Examination Process If you find yourself in the middle of a fraud crisis and need help, then come to this session and lind out what will happen next. This session will teach you the process of how to contact a fraud examiner, when to go through an attorney, what certified fraud examiners should provide that will help you, how to correct the controls your business needs to move on, and most important, how to use the process to protect yourself. Tax Issues and Financial Trends in City and Country Clubs How has the club business been impacted by an economy that has been inconsistent in its performance? Why can't clubs make money in the food and beverage area--or can they? Rounds are up but membership is down. What does this mean for the clubs? What other trends should clubs be noting as they move forward? U.S. tax issues also remain a critical concern in operating a club. This session will cover unrelated business income, its proper reporting and record-keeping requirements, exempt function and reciprocal income, allocation issues, traditional activities, guest fees, and sale of property. The IRS is increasing its enforcement budget. Is it focusing on clubs and what do we need to do to get ready for when they come in the door? $1,000,000 Club Tax Issues to Avoid There appears to be about five times in the life of a club that being tax-exempt under Section 510(c)(7) of the U.S. Internal Revenue Code could be extremely important. If avoiding a potential "million dollar" tax assessment is important to you and your club, this is the session for you to attend. Keeping Your Club out of Trouble in Today's Environment This session will discuss how to improve your club's corporate governance including the establishment of audit committees, internal controls, conflict-of-interest policies, prohibition of loans to officers and directors, audit partner rotation and separate audit and consulting providers. You will learn what two areas of the Sarbanes-Oxley Act of 2002 apply to your club. In addition, this session will discuss advertising, corporate memberships and other tax issues that could adversely affect your tax-exempt status. HFTP HFTP Hospitality Financial & Technology Professionals HFTP Hybrid-Fiber Twisted Pair Hospitality Technology Professionals Forum Featuring In-Depth Discussion on Club Technology HFTP's sixth annual Hospitality Technology Professionals Forum will once again offer hospitality professionals an interactive environment to discuss hot topics in the industry with two tracks; one devoted to club-specific technology topics and one for general hospitality technology topics. The forum will be held on Saturday, November 12 at the Shelburne Hotel in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.Y. "Being from Washington, DC, the exchange of ideas from such a diverse group is an inspiration to the many possibilities that technology gives us," said Steve Scally This article or section may contain original research or unverified claims. Please help Wikipedia by adding references. See the for details. This article has been tagged since September 2007. , a University of Delaware [3] The student body at the University of Delaware is largely an undergraduate population. Delaware students have a great deal of access to work and internship opportunities. student who attended the 2004 Forum. "Overall the entire torum was a great experience. Attending this forum greatly benefits anyone who has to keep up with technology in the hospitality industry." Each topic will feature an industry expert who will provide a brief overview of the topic and then facilitate audience discussion. In addition to the planned discussions, attendees will have an opportunity to interact one-on-one during the Forum. HFTP Offers a Summer Special on the CHAE CHAE Certified Hospitality Accountant Executive CHAE Centre for Higher and Adult Education (South Africa) and CHTP CHTP Certified Healing Touch Practitioner CHTP Certified Hospitality Technology Professional Designations Save $25 on Administration Fees For over a decade, HFTP has provided a way for hospitality finance and technology professionals to show commitment to their profession and future by offering two respected designation programs. Now HFTP is extending an extra incentive to those interested in taking this professional step. During August 2005, professionals taking the CHAE or CHTP exam will receive a $25 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. discount on administrative fees! * The Certified See certification. Hospitality Accountant Executive (CHAE) and Certified Hospitality Technology Professional (CHTP) are professional designations that are earned by passing an examination covering a wide range of hospitality accounting or technology principles. To qualify to take the exam, an applicant must have earned a minimum number of points, which are awarded for evidence of education, experience, HFTP membership and/or American Hotel & Lodging Association (AH&LA) membership (qualifies toward CHTP designation only). Note: HFTP and/or AH&LA membership is not a qualification requirement. Earning a professional certification Professional certification, trade certification, or professional designation, often called simply certification or qualification, is a designation earned by a person to assure that he/she is qualified to perform a job or task. : * Identifies an individual as possessing a high level of competence * Recognizes an individual's commitment to professionalism * Raises colleague respect, offering greater on-the-job recognition * Provides an opportunity for self-improvement * Indicates an understanding of key knowledge and skills * Serves as a valuable career tool * Raises the professionalism of an individual's company and identifies it as being committed to hiring quality professionals Visit the HFTP web site at www.hftp.org for more information on the HFTP Certification Summer Special. * CHAE & CHTP administrative fees are for application processing. In order to receive the discounted fee, the exam must be taken between July 1, 2005 and August 31, 2005. Payment for the application and exam fees must be received by August 31, 2005 to quality for the discounted administrative fee. Offer available for qualifying professionals. Club Finance is One of Five ProLinks Online Communities HFTP members have the unique opportunity to interact with colleagues worldwide who face similar industry issues in ProLinks online communities. Through the topic-based communities, participants post in online discussion forums, explore useful links, share documents, read relevant news articles, and access the community event calendar. The HFTP Club Finance Community offers all of these resources specifically for club professionals. Current topics of discussion in the HFTP Club Finance Community include club technology, budget planning, forecasting tax issues and accounting standards. In addition, ProLinks offers online educational sessions using web conferencing A videoconferencing session via the Internet. In order to interact with other participants, attendees use either a Web application or an application downloaded into their client machines. technology. Subscribers may attend real-time, interactive educational sessions presented by industry experts via the Internet. Members may earn continuing professional education credit by attending these "webinar" sessions which include live question and answer sessions, live audio and video broadcasts, slide presentations, file downloads, guided web browsing and real-time participant polls. Archived sessions focusing on club industry topics include: Club Finance: 10 Toughest Questions to Answer and the Answers and Unrelated Business Income and the Private Club. Other ProLinks communities include Food & Beverage, Hospitality Technology, Hotel Finance and Resort Finance. |
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