Analyze the financial viability of a hospitality property.

Analysis should include

• financial statements
• income statement (e.g., profit or loss)
• cash flow statement
• profitability ratios
• operating ratios (i.e., profit and loss)
• definition of viability.

Process/Skill Questions:

Thinking

• How does the accounting department help a business control costs?
• What is the purpose of the Uniform System of Accounts?

Communication

• How have information technologies affected accounting in the hospitality industry?
• What types of software are used in the hospitality industry to keep track of financial transactions?

Leadership

• What are the qualities that workers in the accounting department should have?
• Why do the front office and the accounting division need to work together?

Management

• Who oversees the accounting department?
• How have technological innovations reduced the workload of the accounting department in a hotel?