Accounting for Hospitality

The subject material covered in this course will give the student a fundamental understanding of Accounting concepts and principals. The course follows the complete accounting cycle and will enable the student the ability to start and maintain accounting records for a small business related to the Hospitality industry. The student will be able to record the transaction by posting the details to the General Ledger. The student will then be able to both start and maintain a petty cash system. Next the student will be able to record the buying and selling of inventory as it relates to the Hospitality industry. With all transactions being recorded, the student can then begin the process to finalize the reporting period by preparing and recording the adjusting and closing entries, which then allows the student to generate and interpret such Financial Statements that will include the Adjusted Trial Balance, Income Statement, Balance Sheet, Statement of Owner's Equity and Post-Closing Trail Balance.