Hotel Accounting
Subject(s): Commerce
ISBN 9789393665362
 Published Date
  Pages 482

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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.

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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