Category: Home

Another Accounting Specialty and Certification

There is another specialty and certification in the field of accounting which have been designated as the hospitality accountants. This is a specialty which is needed as it covers accounting for businesses such as hotels, restaurants, spas, casinos, tourism, and similar types of businesses. These businesses have specific differences in their operations which require specialized expertise in their accounting and financial matters to assist in the guidance of managers in operating the businesses effectively. Consider that a major difference in these businesses than other businesses in that they have no physical inventory in the classic sense of actual good for sale-their inventory is in the concept of time passage. In a hotel every day that a room is not rented is gone forever it cannot be sold the following day. In the casino business any time that a gambling seat is not being occupied by an active player is …