Financial Management Guide from C.H.I.P.S.

Accounting for Hospitality Managers
Fifth Edition
by Raymond Cote

This managerial accounting textbook will help readers understand and apply hospitality departmental accounting at the supervisory and managerial levels. Revisions to this edition include:

  • Three new chapters—on cash management and planning, casino accounting, and assorted accounting topics
  • New hospitality managerial accounting case studies and Internet reference sites in each chapter
  • Updated content that reflects the tenth revised edition of the Uniform System of Accounting for the Lodging Industry
  • Comprehensive coverage of the Sarbanes-Oxley Act, including the role of the SEC
  • Discussion of Fair Value Accounting, required in 2007 for all publicly-held corporations
  • Updated exhibits that reflect computerization and today’s technology


Hotel Revenue Accounting

  • Revenue Centers
  • Fundamental Revenue Concepts
  • Trade Discounts
  • Cash Discounts
  • Recording Invoices and Discounts
  • Internal Control for Food and Beverage Sales
  • Accounting Personnel and Front Office Functions
  • Cash and Data Collection

Hotel Expense Accounting

  • Business Segmentation
  • Financial Reporting Centers
  • Responsibility Accounting
  • Examples of Hotel Expense Accounts
  • Accounting for Employee Meals
  • Accounting for Credit Card Fees
  • Bad Debts

Property and Equipment Accounting

  • Acquisition Costs of Property and Equipment
  • Operating Leases and Capital Leases
  • Depreciation of Property and Equipment
  • Depreciation of China, Glassware, and Silver
  • Amortization of Leaseholds and Leasehold Improvements
  • Sale or Disposal of Property and Equipment
  • Trade-In of Property and Equipment
  • Depreciation and Income Taxes

Other Noncurrent Assets Accounting

  • Intangible Assets
  • Cash Value Intangible Assets

Hospitality Payroll Accounting

  • Fair Labor Standards Act (FLSA)
  • Employer/Employee Relationship
  • Wages and Salaries
  • Payroll Deductions
  • Employer's Payroll Taxes
  • Payroll System
  • Payroll Accounting for Tipped Employees
  • Eight Percent Tip Regulation
  • Tip Shortfall Allocation Methods

Hotel Departmental Statements

  • Hotel Financial Information Systems
  • Uniform System of Accounts
  • Basic Revenue and Support Center Statement Formats
  • Presentation of Payroll Expenses
  • Example of Hotel Departmental Statements
  • Income Statement

Hotel Income Statements

  • Elements and Conventions
  • Hotel Income Statement Formats
  • Hotel DORO's Income Statement
  • Statement of Retained Earnings

Ratio Analysis of the Income Statement

  • Ratio Analysis of the Income Statement
  • Popular Income Statement Ratios
  • Rooms Department Ratios
  • Food and Beverage Department Ratios
  • Hotel Ratios
  • Other Income Statement Ratios
  • Reference List of Ratio Formulas

Hotel Balance Sheets

  • Elements and Conventions
  • Assets
  • Liabilities
  • Equity
  • Hotel Balance Sheet Formats
  • Hotel DORO's Balance Sheet
  • Statement of Retained Earnings

Ratio Analysis of the Balance Sheet

  • Ratio Analysis of the Balance Sheet
  • Ratio Analysis of Hotel DORO's Balance Sheet
  • Current Ratio
  • Quick Ratio
  • Accounts Receivable Turnover Ratio
  • Average Collection Period Ratio
  • Inventory Turnover Ratio
  • Fixed Asset Turnover Ratio
  • Debt-to-Equity Ratio
  • Assets-to-Liabilities Ratio
  • Working Capital
  • Reference List of Ratio Formulas

Statement of Cash Flows

  • Purpose of the Statement of Cash Flows
  • Cash and Cash Equivalents
  • Format of the Statements of Cash Flows
  • Income From Operating Activities
  • Cash Flow from Operating Activities
  • Investing Activities
  • Financing Activities
  • Footnotes and Disclosures
  • Demonstration Problem

Interim and Annual Reports

  • Role of the Independent Certified Public Accountant
  • Audit Service
  • Review Service
  • Compilation Services
  • Consolidated Financial Statement
  • Governmental Authority on Reporting by Public Companies
  • Annual Report to Shareholders

Budgeting Expenses

  • Responsibility Accounting
  • Action Traits of Expenses
  • Variable Expenses
  • Fixed Expenses
  • Semi-Variable Expenses
  • Breakeven Point
  • Contribution Margin
  • Profit Target
  • Effects of Volume and Price Increases

Forecasting Sales

  • Revenue Elements
  • Moving Average Method
  • Percentage Method
  • Statistical Models
  • CVP Analysis

Budgetary Reporting and Analysis

  • Budget Planning and Preparation
  • Budget Reports
  • Master and Flexible Budgets
  • Variance Analysis
  • Capital Budgeting Synopsis

Financial Decision-Making

  • Off-Season Analysis
  • Acquiring a Business
  • Buying a Franchise
  • Leasing
  • Capital Budgeting

Cash Management and Planning

  • Cash, Cash Flow, and Profit
  • Cash Management
  • Cash Management tools
  • Misleading Measures of Cash Flow

Casino Accounting

  • A Brief History
  • Casino Games
  • Principles of Casino Accounting and Internal Control
  • Principles of Casino Financial Accounting

Inventory Accounting

  • The Importance of Inventory Valuation
  • The Gross Profit Method
  • Approaches to Inventory Valuation
  • The Specific Identification Approach to Inventory Valuation
  • The FIFO Approach to Inventory Valuation
  • The LIFO Approach to Inventory Valuation
  • The Weighted Average Approach to Inventory Valuation
  • A Comparison of Cost Allocation Methods
  • LIFO Analyzed

Assorted Topics

  • Feasibility Study
  • Allocating Service Centers and Fixed Charges
  • Fair Value Accounting
  • Compound Value
  • Present Value
  • Compound and Present Value with Annuities


click here to see books • videos • cd-roms of related interest


Accounting for Hospitality Managers
4th Edition by Raymond Cote
2007 • 548 pages • $94.95 + shipping
Texas residents please add 6.75 % sales tax

Copyright © 1997-2009 Culinary and Hospitality Industry Publications Services