Hospitality Accounting and Budgeting

Course Code: HOTL 156

Academic Year: 2021-2022

A key to success in the hospitality industry is profitability. The course will begin with an introduction to financial processes in hospitality organizations and an overview of the relevance and use of numbers in helping managers achieve profitability. The recording of financial activities will be explored through the uniform system of accounts, the accounting cycle, and accounting equations. With this foundation, students will prepare financial statements and apply a variety of operating and financial ratios to analyze hospitality operations. Students will learn about and prepare different types of operating budgets and develop revenue and labour cost forecasts. In the computer lab, students will complete spreadsheet training using Microsoft software.