Industry Update
Supplier News27 August 2015

New Edition of AHLEI’s Hospitality Industry Financial Accounting Textbook Reflects Changes to Uniform System of Accounts for the Lodging Industry

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Educational Institute

The American Hotel & Lodging Educational Institute (AHLEI) has published the fourth edition of Hospitality Industry Financial Accounting by Raymond S. Schmidgall, Ph.D., CPA, and James W. Damitio, Ph.D., CMA. This textbook presents basic financial accounting concepts and shows readers how they apply to the hospitality industry. Readers will learn about: the use of accounts, journals, and ledgers to record transactions, the formats and interpretation of financial statements, the effect of inventory valuation on costs and profit, the mechanics of accrual accounting, and more.
The book has been revised throughout to reflect the 11th revised edition of the Uniform System of Accounts for the Lodging Industry. Other new information includes discussion of the revenue recognition principle, explanation of the LIFO reserve and how it occurs, discussion of the growing popularity of the limited liability company (LLC), and revisions to reflect the most recent IRS guidelines.
Educators at hospitality management programs in the United States are once again able to order this and all of AHLEI's textbooks directly from AHLEI, as the organization discontinued its distribution agreement with Pearson Higher Education, effective July 1, 2015. U.S. academic customers can place orders and request desk copies by contacting[email protected], or by calling 1.800.344.4381 or +1.517.372.8800.

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About the American Hotel & Lodging Educational Institute (AHLEI)

Established in 1953 as the nonprofit education and training arm of the American Hotel & Lodging Association (AHLA), AHLEI's mission is to be the preferred provider of quality resources to educate, develop, and certify hospitality educators, students and professionals worldwide. AHLEI became part of the National Restaurant Association" Training & Certification division in 2017, connecting and leveraging the resources of two organizations that are deeply committed to a vision of career success and upward mobility for current and future hospitality, restaurant, and food service employees.

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