Features:

• Current coverage of emerging issues and techniques in this area
• The “why” and “how” of accounting concepts and procedures are explained
• Adaptable presentation
• Unique discussion of debits and credits as, respectively, “values received” and “values given.”
• A special diagram—Clarifies the transition from the General Journal to the Special Purpose Journals
• Questions, exercises, and short and long problems at the end of each chapter
• A step-by-step explanation of the accounting cycle of a hospitality service business is provided
• In-depth information on payroll accounting, receivables, inventory, payables, corporation accounting, and financial analysis
• An extensive glossary is provided
• A Companion Website

Focusing on clear and detailed coverage of accounting principles and procedures geared to the hospitality industry environment of the new millenium, Accounting for the Hospitality Industry provides current and future hospitality managers with the skills needed to face future industry challenges.

Accounting for the Hospitality Industry 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.

Contents

1. The Accounting Framework
   1. Accounting as the Basis for Management Decisions
   2. Basic Accounting Concepts
   3. Processing Business Transactions
   4. Journalizing, Posting and Taking a Trial Balance
   5. Adjusting the Trial Balance: The Financial Statement Worksheet
   6. Completing the Accounting Cycle
   7. Special-Purpose Journals and Subsidiary Ledgers
   8. Payroll Accounting

2. Financial Statements
   9. The Balance Sheet
   10. The Statement of Income

3. Selected Topics
   11. Property and Equipment, and Inventories
   12. Receivables, Payables, and Corporation Accounting
   13. Understanding Financial Statements

Appendix A. Sample Chart of Accounts
Appendix B. Financial Statements

Index

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