Chapter_5_Accounting

Chapter_5_Accounting - Controller the individual...

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Accounting Accounting Controller – the individual responsible for recording, classifying and summarizing the hotel’s business transactions. a.k.a. the comptroller. Certified Public Accountant (C.P.A.) – The individual designated by the American Institute of Certified Public Accountants as competent in the field of accounting.
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Accounting Systems Accounting Systems Centralized accounting - A financial management system that collects accounting data from a hotel then combines and analyzes the data at a different site. Decentralized accounting - a financial management system that collects accounting data from a hotel and analyzes the data at the same site. Audit - An independent verification of financial records.
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Revenue Forecasting Revenue Forecasting Front Desk – the area within the hotel used for guest registration and payment. Guest Service Agent – An employee working at the front desk area of the hotel. a.k.a. desk clerk.
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Rooms Revenue Rooms Revenue Occupancy rate – the ratio of guest rooms sold to guest rooms available for sale in a given time period. Average Daily Rate (ADR) – the average selling price of all guest rooms for a given time period. Revenue per Available Room (RevPar) – the average sales revenue generated by each guest room during a given period.
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Occupancy Ratios Occupancy Ratios Average Daily Rate (ADR) Room revenue # of rooms sold a.k.a. average house rate
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Chapter_5_Accounting - Controller the individual...

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