Hospitality Financial Accounting

Catalog description

Accounting, in many respects, is the language of business and translates business transactions into quantifiable information. The purpose of this course is to provide the tools as to how to use and understand this language for making informed business decisions. Areas of focus include how to analyze and record business transactions, compiling and analyzing three of the four major financial statements, banking procedures and control of cash, various issues related to the payment of employees and the introduction of how to analyze financial statements. Regardless of the functional area in the hospitality industry in which students choose to work, they will most likely be required to understand how business transactions impact the various financial statements, and how to use financial statements to make informed business decisions. Therefore, an understanding of the importance of accounting information to make informed business decisions is vital to students' future success.