This textbook presents basic financial accounting concepts and shows your students how they apply to the hospitality industry. This revised edition incorporates the most recent formats, information, and schedules from the newly-published Uniform Systems of Accounts for the Lodging Industry,Tenth Revised Edition. Each chapter also includes five new problems to give students practice using accounting information. Students will learn: The responsibilities of a hospitality property's accounting department Advantages and drawbacks of various types of income statements The role of inventory in calculating profit
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Introduction to Accounting
Accounting for Business Transactions
Completing the Accounting Cycle
Income Statement; Balance Sheet
Specialized Journals and Subsidiary Ledgers
Receivables and Payables
Property, Equipment, and Other Assets
Current Liabilities and Payroll
Bonds, Leases, and Mortgages Payable
Investments in Corporate Securities
Statement of Cash Flows
Analysis and Interpretation of Financial Statements