-
Explain hotel revenue accounting
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner selects revenue bookkeeping accounts
learner determines categories of revenue centers
learner identifies revenue accounts used by a hotel
learner calculates gross profit for a hotel department
learner distinguishes between a trade discount and a cash discount
learner calculates cash discounts
learner journalizes cash discounts in general journal
learner records transactions using the gross method for cash discounts
learner records transactions using the net method for cash discounts
learner distinguishes between the city ledger and the guest ledger
learner determines the latest date on which a discount is allowed
learner identifies the proper department for specific transactions
-
Explain hotel expense accounting
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner identifies responsibility accounting in hotels
learner classifies typical expenses by responsibility area
learner summarizes fixed charges
learner journalizes employee meals transactions
learner journalizes credit card transactions
learner distinguishes between the direct method and the allowance method for recording bad debt
learner journalizes bad debt transactions
learner summarizes how bad debt appears on the financial statements
learner calculates amount for bad debt
learner distinguishes between direct and indirect expenses
-
Examine the periodic inventory accounting method
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner records transactions using the periodic inventory accounting method
learner records transactions using the perpetual inventory accounting method
learner explains the cost of sales procedure
learner calculates the cost of sales
learner journalizes the adjusting entries for beginning and ending inventories
learner journalizes transactions for food provisions
learner journalizes transactions for free employee meals
learner prepares classified income statement for restaurant
-
Examine computer, accounting, and financial information systems
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner identifies input/output units
learner analyzes account numbering systems
learner analyzes support centers
learner analyzes fixed charges
-
Prepare hotel departmental income statement
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner uses revenue center vocabulary
learner uses support center vocabulary
learner identifies operated departments expenses
learner calculates net income
-
Explain hospitality payroll accounting
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner identifies the Fair Labor Standards Act (FLSA) regulations on overtime
learner calculates the hours of time worked
learner converts time to the continental time system
learner converts weekly wages to an hourly rate
learner calculates earnings using the overtime pay method
learner calculates earnings using the overtime premium method
learner calculates the maximum tip credit
learner calculates tip regulation
learner applies the payroll deduction regulations
learner calculates net pay
learner calculates the eight percent tip regulation
learner allocates tip shortfall using the gross receipts method
learner allocates tip shortfall using the hours worked method
-
Examine property and equipment accounting
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner determines acquisition costs of fixed assets
learner distinguishes between a capital lease and an operating lease
learner examines depreciation
learner journalizes depreciation transactions
learner calculates depreciation using the straight-line method
learner calculates depreciation using the declining balance method
learner calculates depreciation using the sum-of-the-years digits method
learner calculates depreciation using the productive-output method
learner journalizes depreciation of china, glassware, and silver
learner journalizes sale or trade-in of property and equipment
-
Explain intangible assets
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner identifies the right-off period for intangible assets
learner journalizes amortization transactions
-
Analyze inventory accounting
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner explains the importance of inventory valuation
learner estimates ending inventory using the gross profit method
learner calculates the value of ending inventory using the specific identification approach
learner calculates the value of ending inventory using the FIFO approach
learner calculates the value of ending inventory using the LIFO approach
learner calculates the value of ending inventory using the weighted average approach
learner calculates the cost of sales using perpetual method
learner calculates the cost of sales using the periodic method
-
Analyze hotel income statements
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner demonstrates common-size analysis of an income statement
learner prepares a common size analysis of the income statement
learner prepares a comparative analysis of the income statement
-
Summarize ratio analysis of the income statement
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner summarizes the ratios typically used to analyze hotel rooms department
learner summarizes the ratios typically used to analyze food and beverage department
learner calculates average room rate
learner calculates average food check
learner calculates food inventory turnover ratio
learner calculates days' inventory on hand ratio
learner calculates food cost percentage
learner calculates labor cost percentage
learner calculates prime cost percentage
learner calculates earnings per share ratio
learner calculates price earnings ratio
learner calculates profit margin ratio
learner calculates return on equity ratio
learner calculates occupancy ratio
-
Explain hotel balance sheets
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner demonstrates common-size analysis of the balance sheet
learner prepares a common size analysis of the balance sheet
learner prepares a comparative analysis of the balance sheet
learner classifies balance sheet items by current and long term
-
Summarize ratio analysis of the balance sheet
Assessment Strategies
by completing workbook assignment
through exam
Criteria
learner calculates accounts receivable turnover ratio
learner calculates assets-to-liabilities ratio
learner calculates average collection period ratio
learner calculates beverage inventory turnover ratio
learner calculates current ratio
learner calculates debt-to-assets ratio
learner calculates debt-to-equity ratio
learner calculates fixed asset turnover ratio
learner calculates food inventory turnover
learner calculates quick ratio