Ch 7: Hotel Finance & Accounting

About This Chapter

This self-paced chapter offers a comprehensive overview of hotel finance and accounting. Review fun lessons and take mini quizzes to boost your knowledge and improve your ability to excel at school or in the workplace.

Hotel Finance & Accounting - Chapter Summary

Gain greater insight into the basics of hotel finance and accounting using the bite-sized lessons in this short chapter. Study typical financial documents and accounting methods used in hotel accounting departments. Our multiple-choice quizzes and practice exam can help you find out how well you understand these concepts. If you develop questions while studying the lessons, feel free to submit them to our experts using the Dashboard. These resources are available around-the-clock and can be viewed using any computer or mobile device. Once you've completed this chapter, you will be able to:

  • Define managerial and financial accounting for the hospitality industry
  • Discuss the process of capital budgeting
  • Share models of business forecasts
  • Explain the purpose and importance of financial statements
  • Describe the impact of e-commerce in the hospitality industry

7 Lessons in Chapter 7: Hotel Finance & Accounting
Test your knowledge with a 30-question chapter practice test
Managerial Accounting for the Hospitality Industry

1. Managerial Accounting for the Hospitality Industry

This lesson examines managerial accounting in the hospitality industry. Managerial accounting is a critical activity as it encourages measurement and analysis of information with the aim of meeting organizational goals.

Financial Accounting for the Hospitality Industry

2. Financial Accounting for the Hospitality Industry

In this lesson, we'll review the basic financial statements used in the hospitality industry. We'll also cover a few key ratios used in analyzing the financial strength of a hospitality business.

Capital Budgeting: Definition & Process

3. Capital Budgeting: Definition & Process

From time to time, businesses must purchase large pieces of equipment to replace older equipment or expand product lines. In this lesson, you'll learn how businesses budget for these purchases.

What is Forecasting in Business? - Definition & Models

4. What is Forecasting in Business? - Definition & Models

Being able to predict what is coming next is an invaluable skill for a business. In this lesson, we look at how businesses use forecasting to make the best possible plans for the future.

What Are Financial Statements? - Definition, Purpose & Importance

5. What Are Financial Statements? - Definition, Purpose & Importance

Financial statements are big players in the world of accounting. In this lesson, you will be introduced to each of the financial statements. You will also learn what their role is in the accounting industry, who they are important to and why they are important.

E-Commerce in the Hospitality Industry

6. E-Commerce in the Hospitality Industry

Technology has changed the way things are done in several industries. This lesson takes a look at the impact of E-commerce specifically on the hospitality industry.

Required Assignments Reminder

7. Required Assignments Reminder

Sorry for the interruption to your course progress! We wanted to make sure you knew this course has a written assignment requirement in order to be completed. Read on to learn where to find these assignments and how to submit them.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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