Outline:
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Hospitality Industry Accounting
- The Purpose of Accounting in the Hospitality Industry
- Branches of Accounting
- Why Hospitality Managers Use Managerial Accounting
- The Uniform Systems of Accounts
Accounting Fundamentals
- Difference between Bookkeeping and Accounting
- The Accounting Formula
- Recording Changes to The Accounting Formula
- The Hospitality Business Cycle
The Income Statement
- The Purpose of the Income Statement
- Income Statement Content
The Balance Sheet
- The Purpose of the Balance Sheet
- Balance Sheet Content
The Statement of Cash Flows
- The Purpose of the Statement of Cash Flows
- Statement of Cash Flows Content
Financial Ratios
- Purpose and Value of Ratios
- Types of Ratios
- Comparative Analysis of Ratios
- Ratio Analysis Limitations
Food and Beverage Pricing
- Factors Affecting Menu Pricing
- Assigning Menu Prices
- Menu Price Analysis
Revenue Management for Hotels
- Establishing Room Rates
- Revenue Management
- Non-Room Revenue
Managerial Accounting for Costs
- Fixed and Variable Costs
- Cost/Volume/Profit Analysis
Summary and Conclusion
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