Hospitality Accounting

Book excerpt: This book describes the essential accounting for anyone in the hospitality industry, which includes hotels, restaurants, spas, and similar businesses. It familiarizes the accountant with basic concepts and then addresses the various types of financial statements and the accounting needed to construct them. More detailed accounting topics include payroll, fixed assets, and payables. There are also many managerial accounting topics, such as the construction of a budget, price formulation systems, cost-volume-profit analysis, and cash management. In short, the book prepares the accountant for any accounting issues likely to arise in the hospitality industry.