Accounting Theory and Practice

Bellagio Hotel and Casino Las VegasAccounting like any other profession has it’s own technical symbols, terminology, and principles.  In accounting, these elements form the “vocabulary” which is used to convey financial information, especially that information presented in the form of financial statements.  Accounting is often referred to as “the language of business.” Executives, investors, bankers, creditors, and governmental officials use this language in their day to day activities.  In order to effectively communicate in today’s business world, a fundamental grasp of the theory and practice of accounting is required.

Many of those presently employed in the hospitality industry, and many students who are new to the field of hospitality sometimes feel that the language of business is understood only by specialists who seem to thrive on “number crunching.”  This misconception arises from an unfamiliarity with the fundamental purpose of accounting and the logic which lies behind basic accounting activities.

FIND SCHOOLS
Sponsored Content

This week we will be focusing on the basics of Hospitality accounting.  We will look at questions such as:

Why should supervisors and mangers understand accounting?  What is the fundamental purpose of accounting?  How much math is needed to understand accounting?  What is the difference between bookkeeping and accounting? What career opportunities are there in the field of accounting?  What fundamental principles apply to every aspect of business enterprise?

It is important to understand the theory and practice of accounting for managers, supervisors, and any students planning to study the field of Hospitality accounting.  Any professional career will require economic decisions and all economic decisions require financial accounting.

Featured Programs:
Sponsored School(s)
Featured Bachelor Programs
SPONSORED SCHOOL(S)
SNHU Logo
SNHU
SNHU’s undergraduate degrees in accounting are delivered fully online by world-class expert faculty, offering the best in convenience and academic excellence.
Purdue University Global Logo
Purdue University Global
Purdue University’s online learning experience is like no other, offering students interactive, live seminars that can be accessed from anywhere in the world. Theory here is complemented with team-building and project-based learning for a well-rounded educational experience.
Eastern Oregon University Logo
Eastern Oregon University
Eastern Oregon University offers diverse bachelor’s options, delivered 100% online. Your own support team will ensure you’re on-time, on-track, and headed toward success. Take an additional 45 credits and you’ll be qualified to sit for the Uniform CPA Exam.
Lindenwood University Logo
Lindenwood University
Lindenwood’s fully online BBA in Accounting allows students to take classes wherever and whenever it’s most convenient. Lindenwood students enjoy perks that include an online academic advisor and career center. Also offers a Master of Accountancy and an MBA in Accounting.
Arizona State University Logo
Arizona State University
Featured Program: BS in Accountancy
ASU’s BS in Accountancy is backed by a 15-year track record of offering innovative, online degree programs. Student support is part of the package at ASU, with enrollment coaches, academic advisors, and success coaches focused solely on your success.
Featured Masters Programs
SPONSORED SCHOOL(S)
SNHU Logo
SNHU
Offering the same tuition rates for ten years running, SNHU’s online master’s in accounting is one of the most affordable high-quality programs in the business. Dedicated advisors and 24/7 tech support provide students with unmatched support and guidance in a fully online program. No GMAT or GRE required.
Capella University Logo
Capella University
Capella’s online PsyD in Clinical or School Psychology program is rich in support and engagement, highly interactive, and designed with your unique learning needs in mind. Online learning here is complemented with dynamic, in-person experiences.
Liberty University Logo
Liberty University
The online MSA program through Liberty University offers an affordable, accessible, high-quality way to develop advanced accounting skills, putting a world-class Christian-centered education within reach. Holds specialty, programmatic accreditation through the ACBSP. 100% online. Military tuition discounts available.
The University of Scranton Logo
The University of Scranton
At the University of Scranton, you can earn your master’s in accounting 100% online in as little as 12-months. Custom tailor your program with a wide selection of diverse and contemporary electives. No GMAT or GRE required.
Utica College Logo
Utica College
Utica’s online MBA in Finance & Accounting program develops business-focused accounting skills, providing you with real-world financial modeling experience while putting managerial and cost accounting front and center. Holds specialty, programmatic accreditation through the ACBSP. No GMAT or GRE required. 100% online with no on-campus requirements.
Our site does not feature every educational option available on the market. We encourage you to perform your own independent research before making any education decisions. Many listings are from partners who compensate us, which may influence which programs we write about. Learn more about us.

©2022 https://www.accountingedu.org All Rights Reserved.