Chapter 10 Hotel Accounting

2. 1 Competencies forHotel Accounting Describe hotel financial statements for external users, and explain the internal hotel income statement and departmental statement formats recommended by the Uniform System of Accounts for the Lodging Industry. Explain the revenue and expense accounting procedures for a lodging property recommended by the Uniform System of Accounts for the Lodging Industry. Identify and explain the special accounting considerations for a hotel with a casino department.

3. 2 Competencies for Hotel Accounting Identify and explain the unique balance sheet accounting considerations for a lodging property. Describe the composition of a chart of accounts for a lodging property. Identify and describe the operating ratios useful to the management of a lodging property.

4. 3 Hotel Income Statement Components Operated departments Undistributed operating expenses Totals Income after undistributed operating expenses Income before interest, depreciation and amortization, and income taxes Income before depreciation, amortization and income taxes Income before income taxes Net income

5. 4 Operating RatiosUseful to Lodging Managers Average room rate Occupancy percentage Average food check Food cost percentage Beverage cost percentage Labor cost percentage