Basic Hotel Restaurant Accounting

Day 1:

• Generally Accepted Accounting Principles;

• Business Transactions;

• Accounting Income vs. Taxable Income; The Accounting Equation; Financial Statements

• Legal Business Structure; Taxation of Business Income

• Basic Financial Statements 

• Statement of Income;

• Equity Statements;

• Balance Sheet;

• Statement of Cash Flows

Day 2

• Preparation of the Balance Sheet;

• Asset Classification;

• Current Asset Accounts;

• Noncurrent Asset Accounts ;

• Liability Classification;

• Current Liability Accounts;

• Long- Term Liability Accounts; Bonds;

• Equity Classification;

• Proprietorship Equity Accounts;

• Partnership Equity Accounts;

• Corporation Equity Accounts;

• Limited Liability Company Equity Accounts

Day 3

• Preparation of the Income Statement;

• Revenue Classification;

• Sales Accounting;

• Expense Classification;

• Cost of Sales Expense;

• Inventory Systems;

• Other Business Expenses;

• Depreciation

• Origins of Bookkeeping;

• Bookkeeping Accounts;

• Learning Debits and Credits;

• Analyzing Business Transactions;

• The Nature of Debits and Credits;

• Contra Accounts; Normal Account Balance

Day 4

• Advantages of Computerized Systems ;

• Input Forms; Output Forms;

• Online Accounting System;

• Features of Accounting Packages;

• Standard General Ledger Modules;

• Selecting General Ledger Accounting Software

• Accounting Cycle;

• Tower Restaurant:

• A Computerized Demonstration;

• Conversion from Manual to Computer System;

• Journalizing the Monthly Business Transaction;

• Computerized Posting of the Special Journals; End-of- Month Accounting;

• Computation of Net Income or Loss;

• Computerized Financial Statements;

• Computerized General Ledger;

• Reversing Entries;

• Computerized Year- End Processing

Day 5

• Restaurant Income Statement;

• Significance of Restaurant Accounting;

• Food Sales Accounting;

• Beverage Sales Accounting;

• Cost of Sales;

• Operating Expenses;

• Restaurant Balance Sheet;

• Chart of Accounts for Restaurants;

• Food and Beverage Ratio Analysis; 

• Food Sales Statistics and Analysis;

• Beverage Sales Statistics

• Hotel Financial Statements for External Users;

• Hotel Income Statement for Internal Users;

• Departmental Statements; Revenue Accounting;

• Expense Accounting;

• Hotels with Casino Departments;

• Hotel Balance Sheet;

• Chart of Accounts for Hotels;

• Operating Ratios