Certificate in Hotel Accounting

Hotel Accounting

About Hotel Accounting
Accounting or Accountancy is the measurement, processing, and communication of financial and non-financial information about economic entities such as businesses and corporations.

Regardless of the business size, Accounting from the perspective of the Hotel Industry is all about recording and retrieving in & out cash flow.
Separate accounts must be maintained for receipts like Wines, Beer, Spirits, etc., and payments made against them, the balance is transferred to the Profit and Loss Account.

Why is Hotel Accounting important?

Hotel Accounting provides many  benefits, such as

•    Better Cost Management
•    Revenue Enhancement - Hotel owners be able to maximize their revenue by easily analyzing and optimizing their cashflow while streamlining their budget and forecasting strategies.
•    Better Manpower utilization
•    Business Insights - An in-depth analysis help the hoteliers better utilize their data and identify their operating expenses and costs, department-wise.
•    Improved Operations - Financial streamlining is done for improving operations.
•    Financial statements are available which convey the financial position and performance of the hotel, for a certain period of time.
•    Better financial business decisions

Who should take the Hotel Accounting Exam?
•    Accounting and finance professionals
•    Hotel owners
•    Anyone who wants to assess their hotel accounting skills
•    Accounting and finance managers and senior executives engaged in hospitality or hotels
•    Accounting  consultants
•    Any professional with skills and knowledge of hotel accounting
•    Anyone interested in hotel accounting

Hotel Accounting Certification Course Outline

1. Meaning and Scope of Accounting

2. Taxation

3. Banking and Finance

4. Costing & Auditing