BAHA announces the publication of its latest revised edition of the essential guide for hotel accounting

BAHA – the UK's leading educational organisation for professionals involved in financial management, revenue management and IT within the hospitality industry – is delighted to announce the publication of 'A Guide to the Use and Interpretation of the Uniform System of Accounts for the Lodging Industry – Tenth Revised Edition'.

The new BAHA Guide complements the Tenth Revised Edition of the 'Uniform System of Accounts for the Lodging industry' – one of the most important financial management tools available to the hotel industry. Despite its local and national origins in the USA, the Uniform System has become widely adopted and accepted throughout the hospitality industry on a worldwide basis. Growth in its adoption has been rapid in recent years – especially as the major hotel chains have expanded internationally, alongside the growing trend towards hotel management contracts in the industry. The Uniform System has become a universal language for hotel managers, finance directors, revenue managers, accountants, analysts and consultants; and its terminology and usage has relevance to many commercial and legal arrangements – especially leases, management and franchise agreements.

"The latest BAHA Guide has been written for those who have to prepare, read or refer to hotel operating management accounts or financial agreements. It is for those who either may use, are aware of, or even know nothing about, the Uniform System of Accounts," explains the author of the Guide, Howard Field – Chartered Accountant and hospitality industry financial management professional, who has been involved with BAHA as one of its founders for over 40 years. "It is a system that users and potential users should certainly know more about."

The Uniform System is described as 'an industry specific responsibility accounting system'. First published by the Hotel Association of New York City in 1926, who own the copyright, it is regularly revised in the USA by a joint committee formed by the American Hotel and Lodging Association, and the Hospitality Financial and Technology Professionals (HFTP). For the past two decades, BAHA has been part of the consultation process.

The Tenth Revised Edition contains several major changes from earlier versions; and introduces a fundamental requirement for hotel accountants to follow exactly its formats and recommendations in order for accounts to be considered to comply with the Uniform System. In short, the Guide has been produced to assist those based in the UK and internationally to use and interpret the Uniform System.

The Guide complements the official publication and is an essential tool for international users and readers to:

• understand the formats, terminology and features – especially the changes from earlier editions
• point out aspects of relevance to those who produce hotel accounts
• aid specialists involved in drafting and interpreting agreements referring to the Uniform System
• assist with training of accountants and non-accountants
• illustrate how statistics are used for monitoring and benchmarking performance
• provide explanations for those concerned with monitoring compliance

Editorial assistance for the BAHA Guide has been provided by representatives of HFTP, as well as practising financial and legal professionals.

Copies of the Guide are available via www.baha-uk.org; or by contacting BAHA on: telephone: 01202 889 430; fax: 01202 887 967; or email: [email protected] .