HOST 256 - Hospitality Accounting

Institution:

Kapiolani Community College

Subject:

Description:

3 hours lecture per week. HOST 256 is an introduction to basic accounting principles and the accounting cycle as applied to hospitality operations. Includes accounting for expenses, fixed assets, inventory, sales, equities, and the preparation and analysis of financial statements and management reports. Upon successful completion of HOST 256, the student should be able to: Define basic accounting principles and concepts. Explain the difference between cash and accrual accounting as used in hospitality operations. Explain how transient ledger and city ledger transactions affect the fundamental accounting equation. Complete a practice accounting problem following the steps in the accounting cycle. Calculate depreciation using three methods. Explain expense accounting and control procedures used in hospitality and food & beverage operations. Calculate the value of hospitality and food & beverage inventory using four methods and explain how each method affects net income. Explain the accounting procedures and government reporting requirements for payroll accounting, including the recording of free room and meals. Describe the accounting procedures for the various profit centers of a hospitality operation. Interpret basic hospitality accounting reports used by managers for decision-making.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

kapiolani.hawaii.edu/page/home

Phone Number:

(808) 734-9000

Regional Accreditation:

Western Association of Schools and Colleges

Calendar System:

Semester

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