This introductory accounting course for hospitality and related majors covers bookkeeping and basic financial reporting principles. This course shall cover the entire accounting cycle for a small-sized service, merchandising, lodging, and food businesses.
With accounting being the language of business, this course aims to aid learners in the hospitality field to understand accounting information and to prepare general purpose financial statements catering to the needs of external users of financial information (e.g., creditors, investors, regulators, general public). Students will learn how to analyze financial transactions using source documents, record, classify, summarize, and communicate accounting information through the financial statements.
As an introductory accounting course, discussions shall focus primarily on accounting cycle for sole proprietorships, but basic procedures applicable to partnerships and corporations shall likewise be covered. The premise of business cases is that subject companies employ mostly a manual accounting system and simple spreadsheets. Students are expected to have a basic knowledge of Microsoft Excel.
- Teacher: James Robert Aguila