For undergraduate courses in hospitality management and first-semester accounting courses offered by two- and four-year hospitality management programs.
This book provides students with a balanced mix of accounting theory and practice, tailored to the special needs of the hospitality service industries. It gives attention to the unique accounting and operating characteristics that are of major concern to managers in the hospitality industry in the new millennium.
Provides students with the latest accounting pronouncements.
Helps students focus on the “why” and “how” of accounting concepts and procedures.
Provides instructors with flexibility.
Allows students to more easily understand these accounting terms.
Facilitates the understanding of special purpose journals for students.
Enables students to test their understanding of the material discussed.
Offers students a clear view of the accounting for various segments of a hospitality business.
Provides students with in-depth information on payroll accounting, receivables, inventory, payables, corporation accounting, and financial analysis.
Provides a description of new terms introduced in each chapter.
Student practice exercises with partial solutions in Excel.
An Instructor's Solutions Manual in Excel.
PowerPoint slides for Instructors.
I. THE ACCOUNTING FRAMEWORK.1. Accounting as the Basis for Management Decisions.
II. FINANCIAL STATEMENTS.9. The Balance Sheet.
III. SELECTED TOPICS.11. Property and Equipment, and Inventories.
Focusing on clear and detailed coverage of accounting principles and procedures geared to the hospitality environment of the new millennium, Accounting for the Hospitality Industry provides current and future hospitality managers with the skills needed to face future industry challenges. With their collective teaching experience of close to five decades, Professors Moncarz and Portocarrero equip hospitality management students with accounting knowledge and expertise that will be essential for success in the hospitality industry of the 21st century.Special features of this text that facilitate the learning process include:
Using a simple, logical flow of information, it is designed not only to teach accounting and accounting procedures but more importantly, to make students aware of the usefulness of accounting to hospitality industry managers.