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CHAPTER 1 Hospitality Accounting in Action 1 New Feature Story on the importance of accurate and ethical financial accounting in today?s business world 2 New international insight on Chinese accounting policies 3 New an insight feature on e-business 4 The accounting cycle is now introduced in this chapter 5 New discussion of accounting and financial management in hotels, restaurants, clubs and spas 6 Detailed coverage on the Uniform Systems of Accounts 7 Updated and revised end-of-chapter problems CHAPTER 2 Accounting Principles 1 New Feature Story on the matching principle and how it relates to stockholders? wealth 2 New business insight on a gaming casino 3 Step-by-step illustration of an expanded accounting equation 4 Updated and revised end-of-chapter problems CHAPTER 3 The Recording Process 1 Feature Story on the real world of accounting 2 Additional reinforcement of the accounting cycle 3 Updated and revised end-of-chapter problems CHAPTER 4 Adjusting the Accounts 1 Feature Story on why adjustments are crucial in providing accurate accounting information 2 New insight feature on exceptionally large outlays by companies on advertising 3 New ethics insight on earnings reporting 4 Updated and revised end-of-chapter problems CHAPTER 5 Completing the Accounting Cycle 1 Updated Feature Story on Rhino?s Foods, Inc. about educating employees the financial health of the company as a motivational tool 2 Transparency in-lays illustrate the information flow of a worksheet 3 Updated and revised end-of-chapter problems CHAPTER 6 Financial Statements 1 Feature Story on how adequate cash flow can make or break a business 2 New illustration on the relationship between the income statement and the balance sheet 3 New chart of net income and cash from operations from five restaurants and five hotel companies 4 Updated and revised end-of-chapter problems CHAPTER 7 Financial Statement Analysis 1 This is a new chapter to the Second Edition 2 Feature Story on Brinker International is used as an illustration of financial ratios 3 Added in a small independent restaurant is provided an example for statement analyses and ratios comparison 4 A Summary of Ratios table is included to group important concepts together 5 Landry?s Restaurants, Inc.?s data is used as a demonstration problem CHAPTER 8 Accounting for Merchandising Operations in Hospitality 1 New Feature Story on e-commerce 2 New insight feature on sales returns 3 New ethics insight in the wake of Enron 4 Updated and revised end-of-chapter problems CHAPTER 9 Inventories and Cost of Goods Calculation 1 New Feature Story on inventory valuation 2 Updated detailed examples and calculations are used to illustrate all methods of inventory valuation 3 Extensive discussion on the effects on errors in the inventory valuation process 4 Updated and revised end-of-chapter problems CHAPTER 10 Internal Control and Cash 1 Feature Story on cash control in a coffee shop 2 New insight feature on fraud 3 New insight feature on computer fraud 4 New insight feature on results reported by the Association of Certified Fraud Examiners 5 Updated and revised end-of-chapter problems CHAPTER 11 Payroll 1 New Feature Story on managing payroll 2 New regulations in the Fair Labor Standards Act, including websites 3 Now includes Sample Form 8027 Employer?s Annual Information Return of Tip Income and Allocated Tips 4 Now includes Sample Form 4070 Employee?s Report of Tips to Employer 5 8% tip allocation calculation is illustrated 6 Updated and revised end-of-chapter problems CHAPTER 12 Accounting for Receivables and Payables 1 New Feature Story on credit card financing 2 New insight feature on guests and city ledgers 3 New insight feature on credit card usage by consumers 4 New insight feature on the interest rate 5 New insight feature on hotels and notes receivables 6 Updated and revised end-of-chapter problems CHAPTER 13 Long-term and Intangible Assets 1 New Feature Story on the building of a luxury spa Trellis at the Houstonian 2 New insight feature of depreciation practices 3 New illustrations of depreciation calculations 4 New insight feature of Internet use in the hospitality industry and domain name disputes 5 Updated and revised end-of-chapter problems CHAPTER 14 Sole Proprietorships, Partnerships, and Corporations 1 Updated Feature Story on McDonald?s growth and its continued success in the quick service industry APPENDIX A Specimen Financial Statements 1 PepsiCo is the feature financial statements in this new edition. APPENDIX B Subsidiary Ledgers and Special Journals 1 The information on Subsidiary Ledgers and Special Journals is now an appendix to the text.
Library of Congress Subject Headings for this publication:
Hospitality industry -- Accounting.