Hotel Accounting
Hotel Accounting
ISBN 9789393665362
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This book covers the entire gamut of the subject Hotel Accounting and focuses on how various accounting principles will apply directly to the hospitality industry. It is targeted at students appearing for B.Sc., Hotel and Catering Management and Diploma in Hotel Management and Catering Technology (DHMCT). In all, the book has 19 chapters, is pedagogy-rich, comprehensive and student-friendly.

  • Cover
  • Title Page
  • Copyright Page
  • Contents
  • Preface
  • CHAPTER 1 INTRODUCTION
    • Accounting
    • Definition of Accountancy
    • Book Keeping
    • Objectives of Book Keeping
    • Branches of Accounting
    • Financial Accounting
    • Functions of Financial Accounting
    • Limitations of Financial Accounting
    • Cost Accounting
    • Management Accounting
    • Double Entry System
    • Classification of Accounts
    • Rules for Double Entry
    • Accounting Concepts and Conventions
    • Accounting Concepts
    • Accounting Conventions
  • CHAPTER 2 JOURNAL AND LEDGER
    • Journal
    • Meaning of Journal
    • Advantages of Journal Entries
    • Points to be Observed while Passing Journal Entries
    • Ledger
    • Characteristics of Ledger
    • Posting
  • CHAPTER 3 TRAIL BALANCE
    • Main Characteristics and Uses of a Trial Balance
    • Objects of Preparing a Trial Balance
    • Advantages of a Trial Balance
  • CHAPTER 4 RECTIFICATION OF ERRORS
    • Errors Disclosed by Trial Balance
    • Errors not Disclosed by Trial Balance
    • Suspense Account
    • Rectification of Errors
    • Basic Principles of Rectification of Errors
  • CHAPTER 5 SUBSIDIARY BOOK
    • Advantages of Subsidiary Book
    • Kinds of Subsidiary Book
    • 1. Purchases Book
    • 2. Sales Book
    • 3. Purchases Returns Book
    • 4. Sales Returns Book
    • 5. Bills Receivable Book
    • 6. Bills Payable Book
    • 7. Journal Proper
    • 8. Cash Book
  • CHAPTER 6 CASH BOOK
    • Characteristics of a Cash Book
    • Advantages
    • Types of Cash Book
    • Imprest System
  • CHAPTER 7 FINAL ACCOUNTS
    • Objectives in the Preparation of Final Accounts
    • Stages in Preparation of Final Accounts
    • Trading Account
    • Balance Sheet Definition
    • Characteristics of Balance Sheet
    • Final Accounts With Adjustment
  • CHAPTER 8 DEPRECIATION ACCOUNTING
    • Introduction
    • Characteristics of Depreciation
    • Factors / Causes of Depreciation
    • Factors Affecting the Calculation of Depreciation
    • Need for Providing Depreciation
    • 1. Straight Line Method or Fixed Installment Method or Original Cost Method
    • 2. Diminishing Balance Method or Reducing Installment Method or Written Down Value Method
    • 3. Annuity Method
    • 4. Depreciation Fund or Sinking Fund Method
    • 5. Insurance Policy Method
    • 6. Sum of Years Digit Method
    • 7. Revaluation Method
    • 8. Depletion Method
    • 9. Machine Hour Rate Method
  • CHAPTER 9 DEPARTMENTAL ACCOUNTING
    • Meaning and Need
    • Advantages of Departmental Accounting
    • Basis for Allocation and Apportionment of Expenses
    • Inter Departmental Transfer
  • CHAPTER 10 MECHANISED ACCOUNTING
    • Meaning
    • Classification of Accounting Machines
    • Advantage and Uses of Mechanized Accounting
    • Limitations of Mechanized Accounting
  • CHAPTER 11 UNIFORM SYSTEM OF ACCOUNTS
    • Presentation of Income Statements
    • Reasons for Uniform System of Accounting
    • Advantages of Uniform System of Accounting
  • CHAPTER 12 HOTEL COST ACCOUNTS
    • Introduction
    • Definition
    • Advantages of Cost Accounting in Hotels
    • Elements of Cost
    • Gross Profit Percentage or Kitchen Percentage
    • Cost Sheet
    • Specimen of Cost Sheet
    • Specimen of Cost Sheet, With Inventories
  • CHAPTER 13 INVENTORY VALUATION
    • Meaning of Inventories
    • Objects of Inventory Valuation
    • Methods of Valuation of Inventories
    • Implications of FIFO Method in case of Rising or Falling Prices
    • Implications of LIFO Method in case of Rising or Falling Prices
  • CHAPTER 14 FINANCIAL STATEMENTS ANALYSIS
    • Financial Statements
    • Nature of Financial Statements
    • Limitations of Financial Statements
    • Financial Statement Analysis
    • Objectives of Financial Statements Analysis
    • Types of Financial Analysis
    • Methods or Tools of Financial Analysis
  • CHAPTER 15 RATIO ANALYSIS
    • Advantages of Ratio Analysis
    • Limitations
    • Classification of Ratios
  • CHAPTER 16 FUNDS FLOW ANALYSIS
    • Introduction
    • Meaning of ‘Funds’
    • Definition of Funds Flow Statement
    • Objectives of Funds Flow Statement
    • Advantages of Funds Flow Statement
    • Limitations of Funds Flow Statement
    • Differences Between Funds Flow Statement and Cash Flow Statement
    • Statement of Changes in Working Capital
    • Adjusted Profit & Loss Account
    • Funds Flow Statement
  • CHAPTER 17 MARGINAL COSTING
    • Meaning
    • Definition
    • Cost
    • Advantages & Limitations of Marginal Costing
    • Concepts in Marginal Costing
    • Margin of Safety
    • Margin of Safety Ratio
  • CHAPTER 18 BUDGET & BUDGETARY CONTROL
    • Meaning
    • Need of Budget
    • Meaning of Estimate, Forecast and Budget
    • Budgeting
    • Budgetary Control
    • Objectives of Budgetary Control
    • Essential of Budgeting System
    • Annual Vs Continuous Budgeting
    • Different Types of Budgets
    • Based on Period
    • Based on Flexibility
    • Uses of Flexible Budget
    • Based on Functions
    • Purchase & Production Budget
  • CHAPTER 19 AUDITING
    • Meaning and Nature of Auditing
    • Definition
    • Objectives
    • 1. Detections of Errors
    • 2. Detection of Frauds
    • 3. Prevention of Errors and Frauds
    • Advantages of Audit
    • Types of Audit
    • Continuous Audit
    • Merits of Continuous Audit
    • Demerits of Continuous Audit
    • Periodical Audit
    • Previous Year Question Papers
    • Index

Dr. M. Jaya, Head, Department of Commerce, Asan Memorial College of Arts and Science, Chennai has put in 17 years of teaching service at UG level and 5 years at PG level. She has published text books, edited book volumes, and research articles in Journals of National and International repute. She also serves as an Editorial Board Member and Expert Panel Member of reputed International Journals. She serves as Doctoral Committee Member, Subject Expert, Adjudicator, External Examiner and Evaluator of dissertation of various Universities.


Dr. V. Charulatha, Head, Department of Commerce (Corporate Secretaryship), Asan Memorial College of Arts and Science, Chennai has been in teaching for more than 16 years at UG and PG level. She has authored a book and published edited book volumes, and articles in reputed National and International Journals. The author has presented more than 15 papers in different national and international conferences. She has experience in organising Seminars, Workshops, Technical meets, National and International Conferences.

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Description

This book covers the entire gamut of the subject Hotel Accounting and focuses on how various accounting principles will apply directly to the hospitality industry. It is targeted at students appearing for B.Sc., Hotel and Catering Management and Diploma in Hotel Management and Catering Technology (DHMCT). In all, the book has 19 chapters, is pedagogy-rich, comprehensive and student-friendly.

Table of contents
  • Cover
  • Title Page
  • Copyright Page
  • Contents
  • Preface
  • CHAPTER 1 INTRODUCTION
    • Accounting
    • Definition of Accountancy
    • Book Keeping
    • Objectives of Book Keeping
    • Branches of Accounting
    • Financial Accounting
    • Functions of Financial Accounting
    • Limitations of Financial Accounting
    • Cost Accounting
    • Management Accounting
    • Double Entry System
    • Classification of Accounts
    • Rules for Double Entry
    • Accounting Concepts and Conventions
    • Accounting Concepts
    • Accounting Conventions
  • CHAPTER 2 JOURNAL AND LEDGER
    • Journal
    • Meaning of Journal
    • Advantages of Journal Entries
    • Points to be Observed while Passing Journal Entries
    • Ledger
    • Characteristics of Ledger
    • Posting
  • CHAPTER 3 TRAIL BALANCE
    • Main Characteristics and Uses of a Trial Balance
    • Objects of Preparing a Trial Balance
    • Advantages of a Trial Balance
  • CHAPTER 4 RECTIFICATION OF ERRORS
    • Errors Disclosed by Trial Balance
    • Errors not Disclosed by Trial Balance
    • Suspense Account
    • Rectification of Errors
    • Basic Principles of Rectification of Errors
  • CHAPTER 5 SUBSIDIARY BOOK
    • Advantages of Subsidiary Book
    • Kinds of Subsidiary Book
    • 1. Purchases Book
    • 2. Sales Book
    • 3. Purchases Returns Book
    • 4. Sales Returns Book
    • 5. Bills Receivable Book
    • 6. Bills Payable Book
    • 7. Journal Proper
    • 8. Cash Book
  • CHAPTER 6 CASH BOOK
    • Characteristics of a Cash Book
    • Advantages
    • Types of Cash Book
    • Imprest System
  • CHAPTER 7 FINAL ACCOUNTS
    • Objectives in the Preparation of Final Accounts
    • Stages in Preparation of Final Accounts
    • Trading Account
    • Balance Sheet Definition
    • Characteristics of Balance Sheet
    • Final Accounts With Adjustment
  • CHAPTER 8 DEPRECIATION ACCOUNTING
    • Introduction
    • Characteristics of Depreciation
    • Factors / Causes of Depreciation
    • Factors Affecting the Calculation of Depreciation
    • Need for Providing Depreciation
    • 1. Straight Line Method or Fixed Installment Method or Original Cost Method
    • 2. Diminishing Balance Method or Reducing Installment Method or Written Down Value Method
    • 3. Annuity Method
    • 4. Depreciation Fund or Sinking Fund Method
    • 5. Insurance Policy Method
    • 6. Sum of Years Digit Method
    • 7. Revaluation Method
    • 8. Depletion Method
    • 9. Machine Hour Rate Method
  • CHAPTER 9 DEPARTMENTAL ACCOUNTING
    • Meaning and Need
    • Advantages of Departmental Accounting
    • Basis for Allocation and Apportionment of Expenses
    • Inter Departmental Transfer
  • CHAPTER 10 MECHANISED ACCOUNTING
    • Meaning
    • Classification of Accounting Machines
    • Advantage and Uses of Mechanized Accounting
    • Limitations of Mechanized Accounting
  • CHAPTER 11 UNIFORM SYSTEM OF ACCOUNTS
    • Presentation of Income Statements
    • Reasons for Uniform System of Accounting
    • Advantages of Uniform System of Accounting
  • CHAPTER 12 HOTEL COST ACCOUNTS
    • Introduction
    • Definition
    • Advantages of Cost Accounting in Hotels
    • Elements of Cost
    • Gross Profit Percentage or Kitchen Percentage
    • Cost Sheet
    • Specimen of Cost Sheet
    • Specimen of Cost Sheet, With Inventories
  • CHAPTER 13 INVENTORY VALUATION
    • Meaning of Inventories
    • Objects of Inventory Valuation
    • Methods of Valuation of Inventories
    • Implications of FIFO Method in case of Rising or Falling Prices
    • Implications of LIFO Method in case of Rising or Falling Prices
  • CHAPTER 14 FINANCIAL STATEMENTS ANALYSIS
    • Financial Statements
    • Nature of Financial Statements
    • Limitations of Financial Statements
    • Financial Statement Analysis
    • Objectives of Financial Statements Analysis
    • Types of Financial Analysis
    • Methods or Tools of Financial Analysis
  • CHAPTER 15 RATIO ANALYSIS
    • Advantages of Ratio Analysis
    • Limitations
    • Classification of Ratios
  • CHAPTER 16 FUNDS FLOW ANALYSIS
    • Introduction
    • Meaning of ‘Funds’
    • Definition of Funds Flow Statement
    • Objectives of Funds Flow Statement
    • Advantages of Funds Flow Statement
    • Limitations of Funds Flow Statement
    • Differences Between Funds Flow Statement and Cash Flow Statement
    • Statement of Changes in Working Capital
    • Adjusted Profit & Loss Account
    • Funds Flow Statement
  • CHAPTER 17 MARGINAL COSTING
    • Meaning
    • Definition
    • Cost
    • Advantages & Limitations of Marginal Costing
    • Concepts in Marginal Costing
    • Margin of Safety
    • Margin of Safety Ratio
  • CHAPTER 18 BUDGET & BUDGETARY CONTROL
    • Meaning
    • Need of Budget
    • Meaning of Estimate, Forecast and Budget
    • Budgeting
    • Budgetary Control
    • Objectives of Budgetary Control
    • Essential of Budgeting System
    • Annual Vs Continuous Budgeting
    • Different Types of Budgets
    • Based on Period
    • Based on Flexibility
    • Uses of Flexible Budget
    • Based on Functions
    • Purchase & Production Budget
  • CHAPTER 19 AUDITING
    • Meaning and Nature of Auditing
    • Definition
    • Objectives
    • 1. Detections of Errors
    • 2. Detection of Frauds
    • 3. Prevention of Errors and Frauds
    • Advantages of Audit
    • Types of Audit
    • Continuous Audit
    • Merits of Continuous Audit
    • Demerits of Continuous Audit
    • Periodical Audit
    • Previous Year Question Papers
    • Index
Biographical note

Dr. M. Jaya, Head, Department of Commerce, Asan Memorial College of Arts and Science, Chennai has put in 17 years of teaching service at UG level and 5 years at PG level. She has published text books, edited book volumes, and research articles in Journals of National and International repute. She also serves as an Editorial Board Member and Expert Panel Member of reputed International Journals. She serves as Doctoral Committee Member, Subject Expert, Adjudicator, External Examiner and Evaluator of dissertation of various Universities.


Dr. V. Charulatha, Head, Department of Commerce (Corporate Secretaryship), Asan Memorial College of Arts and Science, Chennai has been in teaching for more than 16 years at UG and PG level. She has authored a book and published edited book volumes, and articles in reputed National and International Journals. The author has presented more than 15 papers in different national and international conferences. She has experience in organising Seminars, Workshops, Technical meets, National and International Conferences.

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