This textbook presents basic financial accounting concepts and
shows readers how they apply to the hospitality industry. Readers will
learn about: the responsibilities of a hospitality property's accounting
department, advantages and drawbacks of various types of income
statements and the role of inventory in calculating profit. The book has
been revised throughout to reflect changes to accounting standards
presented in the 11th revised edition of the Uniform System of Accounts
for the Lodging Industry. Other new information includes discussion of
the revenue recognition principle, explanation of the concept of the
LIFO reserve as it pertains to inventory valuation, discussion of the
growing popularity of the limited liability corporation (LLC) and
revisions to reflect the most recent IRS guidelines. Authors: Raymond S.
Schmidgall Ph.D., CPA, and James W. Damitio, Ph.D., CMA ©2015, 18
Chapters, Softbound For more information and special industry and
academic pricing, please contact the AHLEI sales team.
Brand new paperback book.