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Representative Chapter Topics
ACCOUNTING FOR HOSPITALITY MANAGERS, 5th Edition
A hospitality managerial accounting and hospitality financial management text.
The following is not intended to be a complete listing of every topic in each chapter. However, the topics listed do provide a satisfactory representation of each chapter's content.
Chapter 1: Hotel Revenue Accounting
- Revenue Centers & Accounts
- Trade & Cash Discounts
- Automated and POS Systems
- Internal Control for Food and Beverage Sales
- Accounting & Front Office Functions & Reports
- Daily Report of Revenue
- Internet Reference Sites
- Case Study: Sales Reporting and Internal Control for a Pizza Restaurant
Chapter 2: Hotel Expense Accounting
Business Segmentation
Financial Reporting Centers
Responsibility Accounting
Departmental Organization Charts
Departmental Expense Accounts
Accounting for Employee Meals
Accounting for Credit Card Fees
Bad Debts
Internet Reference Sites
Case Study: Investigative Fire Loss of Inventory
Chapter 3: Property & Equipment Accounting
Acquisition Cost
Operating Leases & Capital Leases
Depreciation & Amortization Methods including MACRS
Sale, Disposal, Trade-in
Internet Reference Sites
Case Study: Rationale for Leasing and Effect of Operating and Capital Leases
Chapter 4: Other Noncurrent Assets
Intangible Assets
Security Deposits
Cash Surrender Value of Life Insurance
Internet Reference Sites
Case Study: Evaluating a Business Franchise Acquisition
Chapter 5: Hospitality Payroll Accounting
Fair Labor Standards Act
Gross Wages Calculation
FICA and Income Taxes
IRS 940 and 940 EZ
W2
Tipped Employees
8% Tip Regulation, Tips & Tip Credit
Calculation of Time Worked, Gross Pay, Net Pay
Tip Shortfall Allocation, Employee Tip Reporting
Employer’s Payroll Taxes, Sample IRS Forms
Internet Reference Sites
Case Study: Computerized Hospitality Payroll System
Appendix contains research reports on Labor Laws for Employers; Teen Labor Laws for Employers; Overtime Rules, Tip Reporting
Chapter 6: Hotel Departmental Statements
Hotel Financial Information Systems
Hotel Chart of Accounts (Uniform System)
Departmental Statements, Formats & Examples
Uniform System of Accounts for the Lodging Industry (USALI), 10th revised edition
Internet Reference Sites
Case Study: Synthesis of Function and Structure: Departmental Reports
Appendix: USALI Internal Income Statement and Sample Departmental Statements
Chapter 7: Hotel Income Statements
Elements and Conventions
Income Statement Formats and Examples
Pie Charts, Common Size Analysis & Comparative Analysis
Uniform System of Accounts for the Lodging Industry (USALI), 10th revised edition
Internet Reference Sites
Case Study: Purpose and Preparation of a Pro Forma Income Statement
Appendix: USALI External Income Statement and Sample Departmental Statements
Chapter 8: Ratio Analysis - Income Statement
Departmental and Hotel Ratios
RevPar
Stock Valuation Ratios
Internet Reference Sites
Case Study: Critique of Hotel Income Statement
Chapter 9: Hotel Balance Sheet
Elements and Conventions
Internal & External Balance Sheets
Common Size & Comparative Analysis
Uniform System of Accounts for the Lodging Industry (USALI), 10th revised edition
Internet Reference Sites
Case Study: Critique of a Balance Sheet
Appendix: USALI Balance Sheet
Chapter 10: Ratio Analysis – Balance Sheet
Liquidity, Asset Management, Debt Management
Internet Reference Sites
Case Study: Working Capital Management
Chapter 11: Statement of Cash Flows
Cash and Cash Equivalents
Format
Preparation
Demonstration Problem
Internet Reference Sites
Case Study: Statement of Cash Flows
Chapter 12: Interim & Annual Reports
Audit, Review, and Compilation Services
Consolidated Statements
Governmental Authority on Reporting by Public Companies
SEC
Sarbanes-Oxley Act
10-K Report
Report of Independent Public Accountant
Annual Report to Shareholders
Internet Reference Sites
Case Study: Preparation of Annual Report to Shareholders
Chapter 13: Budgeting Expenses
Variable, Fixed, Semi-variable Expenses
Strategies for Budgeting Variable, Fixed, SV expenses
High-Low Method
Regression Analysis Method (Computerized & Manual)
Break-even Point
Contribution Margin
Profit Target
Effect of Volume & Price Increases on Costs
Internet Reference Sites
Case Study: Budgeting Expenses and Breakeven Analysis
Chapter 14: Forecasting Sales
Increase Prices or Increase Volume Enigma
Moving Average Method
Percentage Method
Statistical Models
Calculating Average Room Rate
Hubbart Formula
Contribution Margin and CM%
Sales Mix
CVP Method
Internet Reference Sites
Case Study: Forecasting Beverage Sales
Chapter 15: Budgetary Reporting & Analysis
Zero-Base Budgeting
Operations Budget
Master Budget
Flexible Budgets
Variance Analysis
Capital Budgeting Synopsis
Internet Reference Sites
Case Study: Budget Installation: A Management Critique
Chapter 16: Financial Decision Making
Contributory Income Statement Format
Off-season Analysis: Qualitative & Quantitative Considerations
Acquiring a Business
Covenant Not to Compete
Hazards in Using Seller’s Financial Statements
Skimming Claims by Seller
Importance of Seller’s Legal Form of Organization
Purchase of a Proprietorship, Purchase of a Corporation
Treatment of Acquired Assets (Corporate Stock and Asset Method)
Purchasing a Family-Operated Business
Impact of Financing on Profits and Cash
Selecting an Enterprise from a Number of Choices
Buying a Franchise
Leasing of Realty, Leasing of Automobiles, Gap Insurance
Closed & Open-end Leases
Calculating the Monthly Lease Payment
Capital Budgeting (ARR & Payback)
Internet Reference Sites
Case Study: An Entrepreneurial Endeavor
Chapter 17: Cash Management and Planning
Cash and cash flow, Cash Inflows and Outflows, Cash Flow Analysis
Cash Management
Profit Does Not Represent Increase to Cash
Cash Management Vocabulary
Benefits of Cash Management
Developing the Cash Management Data
Cash Flow Demonstration Case
Cash Management Tools to Maximize Cash Flows & Returns: Cash Float, Acceleration of Cash Deposits
Management of Excess Funds: Zero Balance Account (ZBA), Sweep Account
Misleading Measures of Cash Flow
EBITIDA vs. EBITDA
Internet Reference Sites
Case Study: Budgeted Income Statement and Cash Flow Analysis
APPENDIX: Adjusted Net Income Approach
Chapter 18: Casino Accounting
History of Gambling
Present Synopsis of Gaming
Industry Demographics
Gaming Associations
Commercially Owned Casinos
Indian Owned Casino
Racinos
Casino Games
- Baccarat
- Blackjack
- Craps
- Keno
- Roulette
- Slot machines
Role of Accounting in Casinos
Principles of Casino Accounting and Internal Control
Money, Chips, and Controls
Markers and Foreign Chips
Basic Cage Cashiering Controls
Slot Machine Controls
Table Game Controls
Count Room Controls
Vault Room Controls
Hamdle, Win, Drop
Principles of Casino Financial Accounting
Gaming Revenue
Accounting for Nonprogressive, Progressive, Participating Slots
Financial Statements
Complimentary Items and Allowances
Payroll and Other Expenses
Internet Reference Sites
Case Study: Casino Financial Accounting System
Chapte19: Inventory Accounting
Inventory Valuation
Gross Profit Estimating Method
Specific ID, FIFO, LIFO, Weighted Average Methods
Periodic & Perpetual Methods
Internet Reference Sites
Case Study: Inventory Management and Theft Deterrence
Chapter 20: Assorted Topics
Feasibility Study
- Goal of Feasibility Study
- Format of Feasibility Study
- Proposal Letter
- Opening Section of the Feasibility Report
- Description of Market Area
- Evaluation of Area and Project Site.
- Analysis of Competition
- Demand Analysis
- Recommend Facilities and Services
- Estimated Income Statement
Allocating service departments and fixed charges to revenue centers
Fair Value Accounting
- Fair Value Accounting Defined
- FASB Statement 157
- How Fair Value Accounting Improves Financial Reporting
- Measurement of Fair Value
- Transition Adjustment
- Limitation of Fair Value Accounting
Compound Value
Present Value
Compound Value of an Ordinary Annuity
Compound Value of an Annuity Due
Present Value of an Ordinary Annuity
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