advanced hotel
management chapter
6 accounting with
verified solutions
Accounting - answer The process of planning,
recording, analyzing, and interpreting financial
information.
Front-Office Accounting - answer The process of
summarizing and reporting financial transactions
occurring at the front desk
Back-Office Accounting - answer The process of
summarizing and documenting the financial
activity of the entire hotel
Certified Public Accountant (CPA) - answer A
professional designation earned by fulfilling
certain education and experience requirements, in
addition to passing a comprehensive, four-part
examination. Examination topics include financial
accounting theory and practice, income tax
accounting, managerial accounting, governmental
, and not-for-profit accounting, auditing, business
law, and other aspects of the business
environment.
Controller - answer The individual responsible for
recording, classifying, and summarizing a hotel's
business transactions for back of office accounts
Generally Accepted Accounting Principles (GAAP) -
answer standards and procedures adopted by
those responsible for preparing business financial
statements for the purpose of ensuring uniformity
bookkeeping - answer the process of recording
financial transactions
Uniform System of Accounts for the Lodging
Industry - answer a recommended and
standardized set of accounting procedures used to
report a hotel's
financial transactions and financial condition
creates a "roadmap" to record revenues and
expenses as well as overall financial condition
accurate financial records are important to who? -
answer owners
management chapter
6 accounting with
verified solutions
Accounting - answer The process of planning,
recording, analyzing, and interpreting financial
information.
Front-Office Accounting - answer The process of
summarizing and reporting financial transactions
occurring at the front desk
Back-Office Accounting - answer The process of
summarizing and documenting the financial
activity of the entire hotel
Certified Public Accountant (CPA) - answer A
professional designation earned by fulfilling
certain education and experience requirements, in
addition to passing a comprehensive, four-part
examination. Examination topics include financial
accounting theory and practice, income tax
accounting, managerial accounting, governmental
, and not-for-profit accounting, auditing, business
law, and other aspects of the business
environment.
Controller - answer The individual responsible for
recording, classifying, and summarizing a hotel's
business transactions for back of office accounts
Generally Accepted Accounting Principles (GAAP) -
answer standards and procedures adopted by
those responsible for preparing business financial
statements for the purpose of ensuring uniformity
bookkeeping - answer the process of recording
financial transactions
Uniform System of Accounts for the Lodging
Industry - answer a recommended and
standardized set of accounting procedures used to
report a hotel's
financial transactions and financial condition
creates a "roadmap" to record revenues and
expenses as well as overall financial condition
accurate financial records are important to who? -
answer owners
