HRIM 116 C - SRU,D - SWX

This introductory accounting course for hospitality and related majors covers bookkeeping and basic financial reporting principles. This course covers the entire accounting cycle for micro-, small-, and medium-sized enterprises (MSMEs), with emphasis on hotel operations, food service, personal care, and merchandising 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 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 the problem sets is that subject companies employ mostly a manual accounting system and simple spreadsheets. Students are expected to have a basic knowledge of Microsoft Excel.

Course Learning Outcomes

After completing this course, you should be able to: 

LO#

Learning Outcome

LO1

Appreciate accounting as the language of business and understand its core principles and assumptions

LO2

Apply the accounting equation and the rules of debit and credit in understanding the financial effects of transactions, analyze source documents, and record transactions in general journal

LO3

Classify and summarize financial transactions

LO4

Prepare financial statements of MSMEs in hotel operations, food service, personal care, and merchandising businesses truthfully in accordance with Generally Accepted Accounting Principles (GAAP)

LO5

Develop awareness on the importance of internal controls and ethics in financial reporting and in the growth of a business