Accounting for the Hospitality Industry
General Information The template
16:00-17:00 Mondays or By Appointment
Course Description and Purpose
Can you analyze business transactions that happen in your daily life? Can you read financial statements if you were a future hospitality leader? Can you invest the bond or stock market to make extra revenue? These are examples of “real world challenges” that require us to understand the basic accounting framework. In this course, you will understand the basic accounting principles and apply them to real world problems in the hospitality industry.
Students will be able to:
Textbook and Course Materials
HORNGREN'S FINANCIAL & MANAGERIAL ACCOUNTING, STUDENT VALUE EDITION, 6/E
Nobles, Mattison & Matsumura
Pearson Higher Education
You need to attend the class lectures in order to master the material for our class. The lectures and the textbook should provide you with a good basis to complete the quizzes, assignments, and exams. The instructor will take attendance every class meeting. You have only one absence to use in case of emergencies, family situations, etc. Therefore, I do not need any excuses when you are not in class. However, any more absences will start counting against you and no excuses will be accepted regardless of the reason(s). Use these absences very carefully.
It is assumed that students have attained a level of maturity that motivates them to take responsibility for achieving the learning objectives of this course by using the learning tools provided. This course is designed to be completed successfully through the use of three learning tools:
1. Doing the homework assignments on a timely basis
2. Doing the reading assignments on a timely basis, and
3. Attending all classes, taking appropriate notes and PARTICIPATING IN CLASS DISCUSSIONS. Since managers frequently engage in group presentations, as future managers you are expected to gain experience in developing and expressing your ideas before a group of your peers in the class. This being a learning environment, it is the instructor's intent to use class participation to enhance respect for each individual and help develop their self-confidence in a friendly setting. A student who does not use all three of the above tools appropriately and in a timely fashion runs the risk of falling behind and being unable to keep up with the rest of the class. More importantly, the student is wasting an opportunity to improve himself/herself.
(A) If, after doing the reading and homework assignments, a student does not understand a topic that has been explained in class, it is the student's responsibility to visit the instructor during office hours to seek additional instructional assistance, or to seek such assistance from classmates, or from any other source that is available.
(B) It is impossible to cover all assigned reading materials in class. Therefore it is of particular importance that a student request further explanation of any assigned material that the student does not understand, and that is not covered in class. Students are responsible, in the relevant classes, and on the relevant examinations, for the corresponding material in the reading and homework assignments regardless of whether it is, or is not, covered in class.
[Insert notes about grading here]
|Course Requirements||Number of Items||Points for Each||Total Points Available||Weight|
|Attendance & participation||15||6.67||100||5%|
|[Jan. 10] Week #1||Introduction and Chapter 1 – Accounting and Business Environment|
| [Jan. 17] Week #2||Chapter 2 – Recording Business Transactions -1|
|[Jan. 24] Week #3||Chapter 2 – Recording Business Transactions -2|
|[Jan. 31] Week #4||Chinese Lunar New Year (No Class)|
|[Feb. 7] Week #5||Chinese Lunar New Year (No Class)|
|[Feb. 14] Week #6||Chapter 3 – The Adjusting Process – 1|
|[Feb. 21] Week #7||Chapter 3 – The Adjusting Process – 2|
|[Feb. 28] Week #8||Chapter 4 – Completing the Accounting Cycle|
|[Mar. 7] Week #9||Mid-term Exam – Chapters 1 – 4|
|[Mar. 14] Week #10||Chapter 5 –Merchandising Operation|
|[Mar. 21] Week #11||Chapter 6 – Merchandise Inventory|
|[Mar. 28] Week #12||Chapter 7 – Internal Control and Cash|
|[Apr. 4] Week #13||Chapter 8 – Receivables|
|[Apr. 11] Week #14||Chapter 9 – Plant Assets, Natural Resources, and Intangibles|
|[Apr. 18] Week #15||Chapter 11 – Current Liabilities and Payroll|
|[Apr. 25] Week #16|
Chapter 12– Long Term Liabilities
|[May 2] Week #17||Final Exam – Comprehensive Final but with emphasis on chapters 5,6,7,8,9,11,12|