Chapter 1: ESSENTIAL NEED OF ACCOUNTING FOR BUSINESS

• What is business accounting?
• Why financial statements are necessary
• The elements necessary to assemble financial statements
• The corporate accounting department
• The accounting profession
• The certified public accountant
• Influence of government and professional organizations
• Generally accepted accounting principles
• Business transactions
• Accounting income vs. taxable income
• Accounting equation
• Financial statements
• Consolidated financial statements
• Internet reference Sites
• Ethics case study

Chapter 2: BUSINESS ORGANIZATION AND TAXATION

• Legal business structure
• Credit cards, debit cards
• Business formation: proprietorship, partnership, corporation, LLC
• Taxation of business income
• Proprietorship, partnership, corporation
• C corporation & S corporation
• Limited liability company LLC
• Internet reference Sites
• Ethics case study
• Appendix 1: NC instructions how to incorporate
• Appendix 2: Global Survey of International Form of Business Form (Organizations)

Chapter 3: INTRODUCTION TO FINANCIAL STATEMENTS

• Basic financial statements (annual & interim)
• Statement of income, equity statements, balance sheet
• Statement of cash flows
• Demo explaining financial effect between corporation and proprietorship form of business
• Internet reference Sites
• Ethics case study
•  Appendix: Actual financial statements of SONIC CORP., an innovative restaurant chain with a unique drive-in concept

Chapter 4: BALANCE SHEET ACCOUNTS

• Preparation of the balance sheet
• Asset classification
• Current asset accounts & noncurrent asset accounts
• Liability classification
• Current liability accounts & long term liability accounts
• Bonds
• Bond discounts & bond premium
• Bond sinking fund
• Equity classification
• Proprietorship, partnership, corporation equity accounts
• Internet reference Sites
• Ethics case study
• Appendix: Actual financial statements of a Canada hospitality company

Chapter 5: INCOME STATEMENT ACCOUNTS

• Preparation of the income statement
• Revenue classification
• Sales accounting
• Expense classification
• Cost of sales expense
• Inventory systems
• Other business expenses & depreciation
• Internet reference Sites
• Ethics case study
• Internet reference Sites
• Appendix: Actual financial statements of a Canada hospitality company

Chapter 6: THE BOOKKEEPING PROCESS

• Origin of bookkeeping
• Double entry accounting
• Bookkeeping accounts
• Computer processing of accounts
• General ledge
• Learning debits and credits
• Analyzing business transactions
• Analyzing 21 universal transactions
• The nature of debits and credits
• Computer audit trail
• Debit and credit rules
• Recording 21 universal transactions
• Ethics case study
• Internet reference Sites

Chapter 7: GENERAL LEDGER SOFTWARE

• Advantages/disadvantages of computerized systems
• Input forms
• Output forms
• On-line accounting system
• Point-of-sale terminals
• Electronic cash registers
• Bar codes
• Features of accounting package
• Standard general ledger modules
• Selecting general ledger accounting software
• Ethics case study
• Internet reference Sites

Chapter 8: COMPUTERIZED ACCOUNTING CYCLE

• Computerized vs. Manual Accounting Cycle
• Tower Restaurant: A Computerized Demonstration
• Conversion from Manual to Computer System
• Journalize the Monthly Business Transactions
• Computerized Posting of the Special Journals
• End of Month Accounting
• Computation of Net Income or Loss
• Computerized Financial Statements
• Computerized General Ledger
• Computerized Year-end Processing
• Appendix 1: Preparing the Manual Worksheet
• Appendix 2: Reversing Entries
• Ethics case study
• Internet reference Sites

Chapter 9: RESTAURANT ACCOUNTING

• Significance of restaurant accounting
• Fast food & full-service accounting
• Restaurant income statements: full service & fast food
• Food sales accounting
• Coupons, service charges
• Beverage sales accounting
• Cashiering single price, sales tax included
• Cost of sales
• Employee meals and officers’ checks
• Perpetual system & periodic system
• Operating expenses
• Restaurant balance sheet
• Chart of accounts for restaurants
• Food and beverage ratio analysis
• Food & beverage sales statistics
• F&B sales analysis by meal period
• F&B sales analysis by facility (outlet)
• Average food check
• Average food sale per seat
• Seat turnover
• Beverage /food sales ratio
• Beverage sales by type
• Ethics case study
• Internet reference Sites
• Appendix:  Actual financial statements of Applebee’s® International, Inc., a leading hospitality company that develops, franchises and operates casual dining restaurants.

Chapter 10: HOTEL ACCOUNTING

• Hotel financial statements for external users
• Hotel financial statements for internal users
• Hotel income statement and departmental statements
• Revenue accounting
• Departmental sales
• Package plans
• Food and beverage department sales
• Expense accounting
• Hotel with casino department
• Pre-opening expense accounting
• China, glassware, silver, linen, uniforms accounting
• Hotel balance sheet
• Chart of accounts for hotels
• Useful operating ratios
• Ethics case study
• Internet reference Sites
•  Appendix: Actual financial statements of HILTON HOTELS, CORPORATION, a preeminent international company that develops, owns, manages or franchises more than 2,300 hotels, resorts and vacation ownership properties.

Chapter 11: INTERNAL CONTROL OF CASH

• Definition and Objectives of Internal Control
• Internal Control of Cash Receipts
• Daily Cashiers Report
• Internal Control of Cash Disbursements
• Bank Reconciliation
• Ethics case study
• Internet reference Sites

Chapter 12: HOW TO READ AND ANALYZE FINANCIAL STATEMENTS

• Financial Statement Package
• Notes to Financial Statements
• Accountant’s Letter
• Audit, Review, Compilation Service
• Money Illusion and Misconception
• Reading & Analyzing Financial Statements
• Income Statement & The Balance Sheet
• Statement of Cash Flows
• Ratio Analysis of Income Statement & The Balance Sheet
• Common Size & Horizontal Analysis
• Ethics case study
• Internet reference Sites
•  Appendix: Actual financial statements of WENDY'S INTERNATIONAL, INC., a foremost hospitality company that primarily operates, develops, and franchises quick-service and fast-casual restaurants.

Chapter 13: Annual Report to Shareholders

• Content of annual reports
• The SEC
• 10-K Report
• Sarbanes-Oxley Act of 2002
• Certification of annual report by public auditing firm
• Different types of "opinion" for audited financial statements
• Certification of annual report by company executives
• Case Study: Preparation of an Annual Report to Shareholders
•  Comprehensive annual report for DAVE & BUSTER'S INC., operator of a unique restaurant and club concept offering games, a grand dining room, special events and an interactive game room. .

Chapter 14, Merchant Account

• Explains credit/debit card systems
• Point-of-sale systems
• Merchant accounts
• How to set up a merchant account
• Selling on the Internet
• Real time credit card processing
• Payment gateway
• Holdbacks
• Fees and charges
• Case Study: Credit Card Processing Principles and Credit Card Fraud

Chapter 15, Introduction to Forecasting and Budgeting

• Budgeting of expenses
• Fixed, variable, semi-variable expenses
• Forecasting of sales
• Forecasting food sales
• Forecasting room sales
• Forecasting and budgeting for a new business
• Forecasting and budgeting for an existing business
• Break-even point analysis
• Achieving a profit target.
• Case Study: Budgeting: Planning, Preparation, and Implementation

Chapter 16: Starting A Business

• Preliminary planning and administrative process
• Resources available to start a business
• SCORE
• Franchising
• Strategic business planning
• Business licenses
• Federal identification number
• Insurance coverage and types
• Assessment through implementation checklist.
• Case Study: Business Start-Up: Selection, Business Plan, Form of Organization, Business Licenses, Assets Required

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