Basic Hotel Restaurant Accounting

The Basic Hotel and Restaurant Accounting course provides a basis for understanding hospitality accounting concepts and procedures. Students learn about the processing of hospitality financial data, and the flow of financial information in the accounting cycle that result in the production of financial statements. In this course, students recognize that accounting operations in today’s hotels and restaurants require specialized knowledge and skills by examining the most up to date industry information. Students gain insight into merchant accounts, forecasting and budgeting, and the effect of the SEC and Sarbanes- Oxley Act on financial reporting. They also learn about setting up an Internet store, and meeting today’s methods of doing business.

• Understand the fundamentals of hospitality accounting and financial reporting.
• Learn how financial data flows through the accounting cycle in hotels and restaurants.
• Develop the ability to prepare and interpret basic financial statements (Income Statement, Balance Sheet, Cash Flow, Equity Statement).
• Gain knowledge of GAAP and business structures relevant to hospitality organizations.
• Understand asset, liability, and equity classifications in hospitality accounting.
• Build skills in revenue and expense recognition, cost of sales, and inventory management.
• Learn bookkeeping basics including debits, credits, and transaction analysis.
• Understand the use of computerized accounting systems and accounting software in hospitality.
• Develop the ability to analyze restaurant and hotel financial performance using ratios and statistics.
• Strengthen understanding of internal and external financial reporting in the hospitality industry.

• Hotel and restaurant accountants and finance staff
• Hospitality managers and supervisors involved in financial decision-making
• Restaurant owners and operations managers
• Students and graduates in hospitality management or accounting
• Individuals new to hospitality accounting and financial reporting
• Professionals transitioning into hospitality finance roles
• Anyone interested in understanding hotel and restaurant financial systems and statements