Table
of Contents
Chapter 1 - Introduction to
Hospitality Accounting
Characteristics of the Hospitality
Industry
Hotel Organizational Structure
The Controller Job Description
Decisions Requiring Accounting
Information
Financial and Managerial Accounting
Chapter 2 - The System of Accounting
Converting Cash Basis to Accrual
Basis Accounting
Chapter 3 - The Financial Statements
The Single-Step Income Statement
The Multi-Step Income Statement
The Multi-Period Income Statement
Hospitality Income Statement Format
Limitations of the Financial
Statements
Chapter 4 - Receivables and Payables
Accounting
Accounting for Accounts Receivable
The Accounts Receivable Aging Report
Calculating and Recording Bad Debts
Allowance for Doubtful Accounts
Accounting for Accounts Payable
Chapter 5 - Payroll Accounting
Types of Tax Deposit Schedules
Federal Unemployment Deposit Schedule
The Form 941 Quarterly Federal Tax Return
Types of Payroll Journal Entries
Chapter 6 - Inventory Accounting
The Perpetual Inventory System
Inventory Cost Layering Overview
The First in, First Out Method
Cost of Sales Account
Classifications
Chapter 7 - Fixed Asset Accounting
The Initial Measurement of a Fixed
Asset
Sum-of-the-Years Digits Method
Double-Declining Balance Method
The Depreciation of Land Improvements
Depreciation Accounting Entries
Chapter 8 - Interest Capitalization
Overview of Capitalized Interest
The Interest Capitalization Period
Calculating Interest Capitalization
Tax Reduction Strategies for Small
Businesses
Chapter 11 - Other Accounting Topics
The Proper Balance of Control
Systems
The Failings of Internal Controls
Preventive and Detective Controls
Constructing a System of Controls
Hospitality Industry Risk
Characteristics
Controls for the Small Organization
Chapter 13 - Pricing Methodologies
Cross Price Elasticity of Demand
Investment-Based Pricing (Room
Rates)
Hubbart Formula (Meal Pricing)
Chapter 14 - Ratio and Trend
Analysis
Interpretation of Financial
Statements
Accounts Payable Turnover Ratio
Accounts Receivable Turnover Ratio
Sales to Working Capital Ratio
Complimentary Occupancy Percentage
Revenue per Available Customer
Ratio of Beverage to Food Revenue
The Economics of Cost Management
Chapter 16 - Cost-Volume-Profit
Analysis
Chapter 17 - Operations Budgeting
The Disadvantages of Budgeting
Chapter 18 - Capital Budgeting
Present and Future Value Tables
Weighted Average Cost of Capital
Incremental Internal Rate of Return
Capital Expenditure Proposal
Analysis
Separate General Ledger / Subledger Accounts
Chapter 19 - The Lease or Buy
Decision
The Difference between Net Income
and Cash Flow
The Need for Cash Concentration
Cash Concentration Best Practices
Cash Concentration Alternatives
Accounting for Cash Concentration
Transactions
Accounting for Investments -
Dividends and Interest Income
Stock Dividends and Stock Splits
Chapter 21 - Working Capital
Management
Accounts Receivable Enhancements
Final Examination.363