HTM 14100 - Financial Accounting For The Service Industries

This course covers fundamental accounting principles and procedures applied to the hospitality and service industries. Topics include the uniform system of accounts, financial statements, special purpose journals, and subsidiary ledgers unique to the hospitality and service industries. This course also introduces financial statement analysis.

Cr. 3.
Student Learning Outcomes
1. Describe the correct application of debits and credits by analyzing transactions in the service industries in accordance with Generally Accepted Accounting Principles (GAAP).
2. Produce and explain financial statements to include income statement and balance sheet.
3. Explain and complete accounting cycle in accordance with GAAP.
4. Explain the principles of internal control and the role of ethics in financial reporting.
5. Explain and demonstrate the accounting procedures for merchandising, inventories and cost of goods, payroll, and receivables and payables.
6. Explain and demonstrate the accounting procedures for long-term and intangible assets.