Hospitality Financial Accounting

Abstract

Chapter 1. Hospitality Accounting in Action. 1 New Feature Story on the importance of accurate and ethical financial accounting in today's business world. 2 New international insight on Chinese accounting policies. 3 New an insight feature on e-business. 4 The accounting cycle is now introduced in this chapter. 5 New discussion of accounting and financial management in hotels, restaurants, clubs and spas. 6 Detailed coverage on the Uniform Systems of Accounts. 7 Updated and revised end-of-chapter problems. Chapter 2. Accounting Principles. 1 New Feature Story on the matching principle and how it relates to stockholders' wealth. 2 New business insight on a gaming casino. 3 Step-by-step illustration of an expanded accounting equation. 4 Updated and revised end-of-chapter problems. Chapter 3. The Recording Process. 1 Feature Story on the real world of accounting. 2 Additional reinforcement of the accounting cycle. 3 Updated and revised end-of-chapter problems. Chapter 4. Adjusting the Accounts. 1 Feature Story on why adjustments are crucial in providing accurate accounting information. 2 New insight feature on exceptionally large outlays by companies on advertising. 3 New ethics insight on earnings reporting. 4 Updated and revised end-of-chapter problems. Chapter 5. Completing the Accounting Cycle. 1 Updated Feature Story on Rhino's Foods, Inc. about educating employees the financial health of the company as a motivational tool. 2 Transparency in-lays illustrate the information flow of a worksheet. 3 Updated and revised end-of-chapter problems. Chapter 6. Financial Statements. 1 Feature Story on how adequate cash flow can make or break a business. 2 New illustration on the relationship between the income statement and the balance sheet. 3 New chart of net income and cash from operations from five restaurants and five hotel companies. 4 Updated and revised end-of-chapter problems. Chapter 7. Financial Statement Analysis. 1 This is a new chapter to the Second Edition. 2 Feature Story on Brinker International is used as an illustration of financial ratios. 3 Added in a small independent restaurant is provided an example for statement analyses and ratios comparison. 4 A Summary of Ratios table is included to group important concepts together. 5 Landry's Restaurants, Inc.'s data is used as a demonstration problem. Chapter 8. Accounting for Merchandising Operations in Hospitality. 1 New Feature Story on e-commerce. 2 New insight feature on sales returns. 3 New ethics insight in the wake of Enron. 4 Updated and revised end-of-chapter problems. Chapter 9. Inventories and Cost of Goods Calculation. 1 New Feature Story on inventory valuation. 2 Updated detailed examples and calculations are used to illustrate all methods of inventory valuation. 3 Extensive discussion on the effects on errors in the inventory valuation process. 4 Updated and revised end-of-chapter problems. Chapter 10. Internal Control and Cash. 1 Feature Story on cash control in a coffee shop. 2 New insight feature on fraud. 3 New insight feature on computer fraud. 4 New insight feature on results reported by the Association of Certified Fraud Examiners. 5 Updated and revised end-of-chapter problems. Chapter 11. Payroll. 1 New Feature Story on managing payroll. 2 New regulations in the Fair Labor Standards Act, including websites. 3 Now includes Sample Form 8027 Employer's Annual Information Return of Tip Income and Allocated Tips . 4 Now includes Sample Form 4070 Employee's Report of Tips to Employer . 5 8# tip allocation calculation is illustrated. 6 Updated and revised end-of-chapter problems. Chapter 12. Accounting for Receivables and Payables. 1 New Feature Story on credit card financing. 2 New insight feature on guests and city ledgers. 3 New insight feature on credit card usage by consumers. 4 New insight feature on the interest rate. 5 New insight feature on hotels and notes receivables. 6 Updated and revised end-of-chapter problems. Chapter 13. Long-term and Intangible Assets. 1 New Feature Story on the building of a luxury spa Trellis at the Houstonian. 2 New insight feature of depreciation practices. 3 New illustrations of depreciation calculations. 4 New insight feature of Internet use in the hospitality industry and domain name disputes. 5 Updated and revised end-of-chapter problems. Chapter 14. Sole Proprietorships, Partnerships, and Corporations. 1 Updated Feature Story on McDonald's growth and its continued success in the quick service industry. APPENDIX A: Specimen Financial Statements. 1 PepsiCo is the feature financial statements in this new edition. APPENDIX B: Subsidiary Ledgers and Special Journals. 1 The information on Subsidiary Ledgers and Special Journals is now an appendix to the text.

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