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  • Hospitality Industry Managerial Accounting - Schmidgall

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    Nina Radovic
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    This document provides an outline for a chapter on income statements. It discusses key elements of the income statement including revenues, expenses, gains and losses. It distinguishes between income statements prepared for internal versus external users and describes the contents of an income statement and summary operating statement based on the Uniform System of Accounts for the Lodging Industry. It also discusses analyzing income statements using horizontal and vertical analysis and base-year comparisons.

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    Hospitality Industry Managerial Accounting _ Schmidgall

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    This document provides an outline for a chapter on income statements. It discusses key elements of the income statement including revenues, expenses, gains and losses. It distinguishes between income statements prepared for internal versus external users and describes the contents of an income statement and summary operating statement based on the Uniform System of Accounts for the Lodging Industry. It also discusses analyzing income statements using horizontal and vertical analysis and base-year comparisons.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    370 views728 pages

    Hospitality Industry Managerial Accounting - Schmidgall

    Uploaded by

    Nina Radovic
    This document provides an outline for a chapter on income statements. It discusses key elements of the income statement including revenues, expenses, gains and losses. It distinguishes between income statements prepared for internal versus external users and describes the contents of an income statement and summary operating statement based on the Uniform System of Accounts for the Lodging Industry. It also discusses analyzing income statements using horizontal and vertical analysis and base-year comparisons.

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    © All Rights Reserved
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    of 728

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    the sucres of the ho,p
    Chapter 3 Outline Competencies mcnt ma, be prepared
    Cfllilrtcrly or annually f
    Major Elemt?nts of the Income St.itcment 1. Describe revenues, expenses, gains. agcnet ��.
    Rcl.i11onsh1p with the Balance Sheet and losses as presented on the incom�
    Users of fin,mdal
    Income St.ilL'Tllenb for internal .ind statement. (pp. 86-87)
    C.-.ternal USt?� llllS\\crs lo man\ 4uc.,t1
    2. Distingu1!--h between income
    Uniform Systems of Account:, statements prepared for internal user, Hm, prn11t,1ble ,,,1
    Approach to llospitality Industry and tho-.e prepared for external U.bt.'r.
    lncom1.: Statements 2. \\hat m.!rt.' the tota
    (pp. 87-91)
    Summary Operating Statement 3. I Im, much w,1s pai
    Contents of the income Statement 3. Describe the contents of an income
    Departmental St.itemenh, statement and summary operating 4 What I lhc relation
    Lodging Industry Operating Slahstics statement basL>J on the U11ifor111
    5 I lo\\ much h;n e '-al
    Analysis of Income Statement:. Sy:.lem of Acco1111ts for tlie Lodgmg
    USAR and USFRC f11d11stn, (USAUJ. (pp. 91-98) 6 \\ hat is lhl• utililles
    Computer Applic.1t1ons 4. Identify the difforences between expense of, ,·car a
    departmental income statements 7 I low mill h w,1s sp(•r
    prepared for profit centers and those
    prepan-d for :.ervice centers ma Ho,, d, •s net inco
    hospitality operation (pp 98--100) l'hest-. and mnnv m,
    5. Interpret mcome statement:, using tall.:menL-; that C\>\er se,·
    horizontaJ and vertical analysis as ments bv 111dividti.1I dl'
    well as base-year comparisons. g,mcrall� con,.1dcrl'd lo
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