Hospitality Accounting – Reference

Price: $166.25

CPE Credits: 19.0

Category:

Course Number: AACSBHOS

hospitality accounting cpe

Description: This course, Hospitality Accounting- Financial and Managerial Accounting Reference, describes the essential accounting for anyone in the hospitality industry, which includes hotels, restaurants, spas, and similar businesses. The course familiarizes the accountant with basic concepts and then addresses the various types of financial statements and the accounting needed to construct them. More detailed financial accounting topics include payroll, fixed assets, and payables. There are also many managerial accounting topics, such as the construction of a budget, price formulation systems, cost-volume-profit analysis, and cash management. Table of Contents
Delivery Method: Online QAS Self Study.
Level: Overview.
Prerequisites: None
Advanced Preparation: None

Author: Steven Bragg, CPA
Publication: January 2015
Updated: January 2018
 Format: PDF
Pages: 392
Passing Grade: 70%
Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.
CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • Cite the operating characteristics of the hospitality industry.
  • Note the intent of the accounting cycle, the key accounting principles, and the source of the information in the trial balance.
  • Identify the different types, contents, and formats of the financial statements.
  • Note the different types of receivable and payable transactions, and the documents associated with the processing of receivables and payables.
  • Cite the forms used in the payroll process and the methods for calculating compensation and depositing tax remittances.
  • State the types of inventory systems and cost layering methods, and describe the calculations used to estimate ending inventory.
  • Identify the costs included in fixed assets, and the concepts used in the calculation of depreciation.
  • Identify the types of projects for which interest should be capitalized, and when such capitalization should be terminated.
  • Note the items included in interest expense and the loan amortization table.
  • Recognize the tax reports associated with each type of business entity.
  • Identify the costs considered to be startup costs, as well as the advantages of selling gift cards to customers.
  • Define the types of controls, and note the controls that apply to each functional area of a business.
  • State the types of pricing systems in use in the hospitality industry, as well as the impact of inelastic demand on price setting.
  • Note the flaws in the ratios used to analyze the hospitality industry.
  • Identify the types of costs, as well as the benefits of cost management.
  • Note the calculations for contribution margin, breakeven, cost-volume-profit analysis, and sales mix variance.
  • Recognize the disadvantages of budgeting in general and flexible budgeting in particular, as well as the calculation of the different types of variances.
  • State the components of the cost of capital, and the types of analysis techniques used in capital budgeting.
  • Cite the information used to derive a lease rate, as well as the conditions under which it makes the most sense to use different types of leases.
  • Identify the advantages and disadvantages of a cash concentration system and a notional pooling system, as well as the content of the short-term and medium-term cash forecasts.
  • Identify the different types of investment strategies.
  • Note the composition of the cash conversion cycle, and ways to improve working capital cash flow.

Description: This course, Hospitality Accounting- Financial and Managerial Accounting Reference, describes the essential accounting for anyone in the hospitality industry, which includes hotels, restaurants, spas, and similar businesses. The course familiarizes the accountant with basic concepts and then addresses the various types of financial statements and the accounting needed to construct them. More detailed financial accounting topics include payroll, fixed assets, and payables. There are also many managerial accounting topics, such as the construction of a budget, price formulation systems, cost-volume-profit analysis, and cash management. Table of Contents
Delivery Method: Online QAS Self Study.
Level: Overview.
Prerequisites: None
Advanced Preparation: None

Author: Steven Bragg, CPA
Publication: January 2015
Updated: January 2018
 Format: PDF
Pages: 392
Passing Grade: 70%
Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.
CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • Cite the operating characteristics of the hospitality industry.
  • Note the intent of the accounting cycle, the key accounting principles, and the source of the information in the trial balance.
  • Identify the different types, contents, and formats of the financial statements.
  • Note the different types of receivable and payable transactions, and the documents associated with the processing of receivables and payables.
  • Cite the forms used in the payroll process and the methods for calculating compensation and depositing tax remittances.
  • State the types of inventory systems and cost layering methods, and describe the calculations used to estimate ending inventory.
  • Identify the costs included in fixed assets, and the concepts used in the calculation of depreciation.
  • Identify the types of projects for which interest should be capitalized, and when such capitalization should be terminated.
  • Note the items included in interest expense and the loan amortization table.
  • Recognize the tax reports associated with each type of business entity.
  • Identify the costs considered to be startup costs, as well as the advantages of selling gift cards to customers.
  • Define the types of controls, and note the controls that apply to each functional area of a business.
  • State the types of pricing systems in use in the hospitality industry, as well as the impact of inelastic demand on price setting.
  • Note the flaws in the ratios used to analyze the hospitality industry.
  • Identify the types of costs, as well as the benefits of cost management.
  • Note the calculations for contribution margin, breakeven, cost-volume-profit analysis, and sales mix variance.
  • Recognize the disadvantages of budgeting in general and flexible budgeting in particular, as well as the calculation of the different types of variances.
  • State the components of the cost of capital, and the types of analysis techniques used in capital budgeting.
  • Cite the information used to derive a lease rate, as well as the conditions under which it makes the most sense to use different types of leases.
  • Identify the advantages and disadvantages of a cash concentration system and a notional pooling system, as well as the content of the short-term and medium-term cash forecasts.
  • Identify the different types of investment strategies.
  • Note the composition of the cash conversion cycle, and ways to improve working capital cash flow.
  • “Thank you for a high quality CPE resource. As a CPA in a small nonprofit, I find your library quite helpful to meet my needs. I appreciate the service.”- 

    - Cheryl

  • I loved the course as it had current cases which I am familiar with. Best ethics course I have taken in recent memory. Thanks!”

    - Kathy

  • “The course on ethics was one of the best correspondence courses I ever used.  It was well organized and the examples used were extremely helpful.”

    - Tommy R.