vcc.ca
HOSP 1860: Introduction to Hospitality Accounting
Effective date
September 2023
Department
Hospitality Management
School
Hospitality, Food Studies and Applied Business
Description
This course introduces students to the basic terminology, concepts and principles of hospitality accounting, including the preparation, analysis, and interpretation of financial statements. Topics include processing of hospitality financial transactions, front office accounting systems, night auditing, payroll accounting, and accounting for inventory. In this course, students recognize that knowing the basics of accounting will improve the management skills in all levels of a hospitality operation.
Credits
3.0
Year of study
1st Year Post-secondary
Prerequisites
None
Corequisites
None
Course Learning Outcomes
Upon successful completion of this course, students will be able to:
- Explain the applications of financial accounting in the hospitality industry.
- Explain the principles of hospitality accounting.
- Identify and record business transactions in a hospitality operation.
- Apply the steps of the accounting cycle.
- Prepare and analyze financial statements including, Income statement, retained earnings statement, and balance sheet.
- Use front office accounting systems, including night auditing processes.
- Explain the basis of accounting for inventories and inventory cost-flow methods.
- Apply the principles of payroll accounting.
Prior Learning Assessment & Recognition (PLAR)
To learn more about the PLAR pathways for this course review the Hospitality Management Diploma Program Content Guide.
Hours
Lecture, Online, Seminar, Tutorial: 45
Total Hours: 45
Total Hours: 45
Instructional Strategies
Lectures and lab work, demonstrations, case studies, finance software, self-study (research).
Grading System
Letter Grade (A-F)
Passing grade
D (50%)
Evaluation Plan
|
Type |
Percentage |
Assessment activity |
|
Assignments |
5 |
Group Assignments |
|
Project |
5 |
Group Project |
|
Project |
5 |
Moodle Activities |
|
Quizzes/Tests |
10 |
Weekly quizzes |
|
Midterm Exam |
45 |
2 midterm exams worth 20-25% |
|
Final Exam |
30 |
This exam covers almost all sections of the course, except the introductory part taught in the first 2-3 weeks |
Course topics
- Basic concepts of accounting
- Analyzing transactions, accounting equation
- All steps of accounting cycle
- Preparation of financial statements
- Analyzing financial statements
- Front office accounting system
- Night auditing processes
- Accounting for inventory
- Payroll accounting
Notes:
- Course contents and descriptions, offerings and schedules are subject to change without notice.
- Students are required to follow all College policies including ones that govern their educational experience at VCC. Policies are available on the VCC website at:
https://www.vcc.ca/about/governance--policies/policies/. - To find out if there are existing transfer agreements for this course, visit the BC Transfer Guide at https://www.bctransferguide.ca.