HOSPITALITY ACCOUNTING-I

Course Description

This course aims to integrate the special accounting requirements of the hospitality industry with generally accepted accounting principles. It defines the basic principles and concepts as they relate to practical accounting problems, analyzes a business transaction into its debit and credit elements. With this course students complete the accounting cycle: journalize entries, post to general ledger, adjusting entries, and prepare financial statements. The course also interprets various accounting data and appropriately applies basic principles of accounting to the problems of operating a business in the hospitality industry. The students more focusing on, hospitality accounting in action, recording process and adjusting an account.

HOSPITALITY ACCOUNTING-I

Evaluation Tools (Active Term)

Course outcomes

1. 01 Identify the steps in accounting cycle
2. 02 Interpret and record the business transactions
3. 03 Classify the similar transactions into useful reports
4. 04 Summarize and communicate information to decision makers

Course Syllabus

Reference Books & Course Materials

1. 01 Williams, Haka, Bettner, Financial & Managerial Accounting, 17th Edition, McGraw-Hill 2015

Learning Outcomes

1. L01 The students will be able to define the essential role of accounting in the tourism industry, enabling effective financial management and informed decision-making. SOLO 3
2. L02 The students will be able to describe the basic principles of double-entry accounting and the concept of debits and credits. SOLO 3
3. L03 The students will be able to apply specialized accounting practices to record transactions specific to tourism businesses, such as hotels, travel agencies, and tour operators. SOLO 4
4. L04 The students will be able to apply accounting rules and principles to analyze, journalize, and post transactions to general ledger accounts. SOLO 4
5. L05 The students will be able to examine financial statements tailored to tourism businesses, including income statements, balance sheets, and statements of cash flows. SOLO 3
6. L06 The students will be able to analyze financial statements to assess the financial performance, profitability, and liquidity of tourism enterprises. SOLO 4

Program Outcomes

1. P01 1. Students will be able to adopt theoretical and practical knowledge in a challenging work environment.
2. P02 2. Students will be able to guide teamwork in intercultural and various international working environments.
3. P03 3. Students will be able to obtain the communicative, conceptual and analytical skills necessary for conflict environments.
4. P04 4. Students will be able to recognize the importance of basic competence to create a competitive advantage and achieve a success on a global scale.
5. P05 5. Students will be able to integrate ethical and social responsible practices that are environmentally friendly and applicable both in business and personal life.
6. P06 6. Students will be able to raise awareness about continuous improvement to increase business performance in professional life.
7. P07 7. Students will be able to adopt and apply critical and strategic thinking together with research capabilities for organizational decisions.
8. P08 8. Students will be able to use and manage the information technologies required for the contemporary business world.
9. P09 9. Students will be able to have a knowledge of, at least, one foreign language at basic level in addition to English.
10. P10 10. Students will be able to acquire effective teamwork skills.

Po-Lo Matrix