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principles of accounting HT513

HT513

PRINCIPLES OF

ACCOUNTING FOR

TOURISM AND

HOSPITALITY

1 . Document employed after business transaction

2 . Book of prime entrance

INTRODUCTION OF

BUSINESS

• The purpose of a business is to make a profit for

it is owner(s)

• A business can be described as separate organization from its owner.

• Every single financial purchase has a dual effect.

• Double entrance bookkeeping makes up the dual

aspect of monetary statement transactions.

INTRODUCTION OF

FINANCIAL AFFIRMATION

• Data from a trial equilibrium is used to prepare business monetary statements in order to evaluate the overall performance of the business.

• Economical statements has:

- Profits statement

- Statement of financial position.

• An income declaration is a mixture of:

- A trading bank account

- A profit and reduction account

EXAMPLE OF INCOME

ASSERTION

EXAMPLE OF

WELL-BALANCED SHEET

INTRO

BOOK OF PRIME ENTRANCE

•Book of prime access is also called double-entry

bookkeeping which is depending on the same thought as the

accounting formula.

•Every accounting transaction features two similar but opposite

effects.

•Equality of assets and debts is maintained.

•Therefore, in a system of twice entry accounting, every accounting event has to be entered in ledger accounts.

•Both being a debit so that as an equal although opposite credit.

BOOK OF PRIME ENTRANCE

DEBIT

•An increase in an

asset

•An increase in a great

expense

•A decrease in a

liability (or capital)

CREDIT RATING

• A decrease in a great

asset.

• An increase in

cash flow

• An increase in a

legal responsibility (or capital).

EXAMPLE OF PUBLICATION PRIME

ACCESS

CONCLUSIONS

• This deal accounts is very important for

just about every company to ensure the total sum

of earnings and loss in every month or year.

• This kind of account is going to detect the loss and the

expenditures used in every single company that

happen throughout the cash flow out-and-in.

30.08.2019

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