Training Course:Basic Financial Accounting for the Hospitality IndustrySchool/Trainer:Professional Development Institute of Tourism
Parksville, British Columbia, Canada
Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced
Course Description:
'' Introduce your students to the fundamentals of financial accounting in a way even students who aren’t "numbers people" can understand. Revisions reflect the most recent formats, information, and schedules from the ninth revised edition of the Uniform System of Accounts for the Lodging Industry.
Evaluation: The student must complete eighteen basic, self-scoring review quizzes, four progress test, and a comprehensive final examination.
Learning Resource:
Basic Financial Accounting for the Hospitality Industry, Second Edition
Raymond S. Schmidgall, Ph.D., CPA,
Michigan State University
James W. Damitio, Ph.D., CMA,
Central Michigan University
Learning Objectives: At the completion of this course, students should
be able to:
1. Describe the accounting process and the roles that accountants play in
collecting and presenting financial information.
2. Define the major classifications of accounts (assets, liabilities, equity,
revenue, and expenses) and describe specific accounts found within
each classification.
3. Understand the correct application of debits and credits by analyzing
business transactions for a variety of accounting situations.
4. Discuss the basis of the double-entry accounting system and identify the
normal balances of the various types of accounts.
5. Describe the posting, journalizing, and closing processes.
6. Identify the purposes and characteristics of specialized journals and
subsidiary ledgers.
7. Discuss the advantages and disadvantages of the sole proprietorship, the
partnership, the corporation, and the S corporation, and describe and
compare accounting procedures for each.
8. Discuss generally accepted accounting principles and explain the
usefulness of each.
9. Distinguish between cash basis accounting and accrual accounting.
10. List procedures that help ensure internal control of a firm’s cash.
11. Discuss how hospitality firms account for bad debt losses.
12. Describe accounting procedures involved in notes receivable and notes
payable.
13. Discuss methods of controlling and accounting for inventory.
14. Identify and define the major classifications of adjusting entries
reversing entries. and
15. Define ten steps of the accounting cycle.
16. Describe the balance sheet, the income statement, the statement of owner’s
equity, the statement of retained earnings, and the statement of cash flows, and
discuss the purposes of each.
17. Identify the uniform systems of accounts relevant to the hospitality industry.
18. Explain the purposes of footnotes to financial statements.
19. Identify and describe commonly used depreciation methods.
20. Describe accounting procedures used for property, equipment, intangible
assets, and other assets.
21. Describe procedures used to account for current liabilities and payroll.
22. Describe procedures used to account for bonds, leases, and mortgages payable.
23. Explain why hospitality firms invest in the securities of other companies,
and discuss accounting for investments.
24. Identify the kinds of information obtained through vertical and horizontal
analyses of comparative balance sheets and comparative income statements.
25. Explain ratio analysis and the purposes that it serves for managers, creditors, and
investors.
26. Identify and define five classes of ratios and explain their significance.
...''
Please go to the school's official website for training price and schedule:
http://www.pdit.ca/
http://www.pdit.ca/courses/HTM260.htm
Phone:250-248-2010
School Address:
Professional Development Institute of Tourism
P. O. Box 278, Suite 2 - 141 Memorial Avenue
Parksville, British Columbia, CANADA, V9P-2G4
Phone 250-248-2010
Fax 250-248-9413
Jobs & Resumes: Parksville
Houses & Roommates: Parksville
Other training courses offered by Professional Development Institute of Tourism:
Hospitality Industry Computer Systems
Hospitality Supervision
Quality Sanitation Management
Food & Beverage Service
Planning and Control for Food & Beverage Operations
Bar & Beverage Management
Tourism and the Hospitality Industry
Marketing of Hospitality Services
Hospitality Sales & Marketing
Convention Management and Service
Managerial Accounting for the Hospitality Industry
Managing for Quality in the Hospitality Industry
Training for the Hospitality Industry
Human Resources Management
Contemporary Club Management
Facilities Management
International Hotel Management
International Human Resource Management in the Hospitality Industry
Resort Management and Development
Notice: The course description on this page was captured from the Internet as historical reference or submitted by visitors. It was archived statically and not updated from day to day.
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