Chapter 1. Hospitality Accounting in Action.1 New Feature Story on the importance of accurate and ethical financial accounting in today's business world.
2 New international insight on Chinese accounting policies.
3 New an insight feature on e-business.
4 The accounting cycle is now introduced in this chapter.
5 New discussion of accounting and financial management in hotels, restaurants, clubs and spas.
6 Detailed coverage on the Uniform Systems of Accounts.
7 Updated and revised end-of-chapter problems.
Chapter 2. Accounting Principles.
1 New Feature Story on the matching principle and how it relates to stockholders' wealth.
2 New business insight on a gaming casino.
3 Step-by-step illustration of an expanded accounting equation.
4 Updated and revised end-of-chapter problems.
Chapter 3. The Recording Process.
1 Feature Story on the real world of accounting.
2 Additional reinforcement of the accounting cycle.
3 Updated and revised end-of-chapter problems.
Chapter 4. Adjusting the Accounts.
1 Feature Story on why adjustments are crucial in providing accurate accounting information.
2 New insight feature on exceptionally large outlays by companies on advertising.
3 New ethics insight on earnings reporting.
4 Updated and revised end-of-chapter problems.
Chapter 5. Completing the Accounting Cycle.
1 Updated Feature Story on Rhino's Foods, Inc. about educating employees the financial health of the company as a motivational tool.
2 Transparency in-lays illustrate the information flow of a worksheet.
3 Updated and revised end-of-chapter problems.
Chapter 6. Financial Statements.
1 Feature Story on how adequate cash flow can make or break a business.
2 New illustration on the relationship between the income statement and the balance sheet.
3 New chart of net income and cash from operations from five restaurants and five hotel companies.
4 Updated and revised end-of-chapter problems.
Chapter 7. Financial Statement Analysis.
1 This is a new chapter to the Second Edition.
2 Feature Story on Brinker International is used as an illustration of financial ratios.
3 Added in a small independent restaurant is provided an example for statement analyses and ratios comparison.
4 A Summary of Ratios table is included to group important concepts together.
5 Landry's Restaurants, Inc.'s data is used as a demonstration problem.
Chapter 8. Accounting for Merchandising Operations in Hospitality.
1 New Feature Story on e-commerce.
2 New insight feature on sales returns.
3 New ethics insight in the wake of Enron.
4 Updated and revised end-of-chapter problems.
Chapter 9. Inventories and Cost of Goods Calculation.
1 New Feature Story on inventory valuation.
2 Updated detailed examples and calculations are used to illustrate all methods of inventory valuation.
3 Extensive discussion on the effects on errors in the inventory valuation process.
4 Updated and revised end-of-chapter problems.
Chapter 10. Internal Control and Cash.
1 Feature Story on cash control in a coffee shop.
2 New insight feature on fraud.
3 New insight feature on computer fraud.
4 New insight feature on results reported by the Association of Certified Fraud Examiners.
5 Updated and revised end-of-chapter problems.
Chapter 11. Payroll.
1 New Feature Story on managing payroll.
2 New regulations in the Fair Labor Standards Act, including websites.
3 Now includes Sample Form 8027 Employer's Annual Information Return of Tip Income and Allocated Tips .
4 Now includes Sample Form 4070 Employee's Report of Tips to Employer .
5 8% tip allocation calculation is illustrated.
6 Updated and revised end-of-chapter problems.
Chapter 12. Accounting for Receivables and Payables.
1 New Feature Story on credit card financing.
2 New insight feature on guests and city ledgers.
3 New insight feature on credit card usage by consumers.
4 New insight feature on the interest rate.
5 New insight feature on hotels and notes receivables.
6 Updated and revised end-of-chapter problems.
Chapter 13. Long-term and Intangible Assets.
1 New Feature Story on the building of a luxury spa Trellis at the Houstonian.
2 New insight feature of depreciation practices.
3 New illustrations of depreciation calculations.
4 New insight feature of Internet use in the hospitality industry and domain name disputes.
5 Updated and revised end-of-chapter problems.
Chapter 14. Sole Proprietorships, Partnerships, and Corporations.
1 Updated Feature Story on McDonald's growth and its continued success in the quick service industry.
APPENDIX A: Specimen Financial Statements.
1 PepsiCo is the feature financial statements in this new edition..
APPENDIX B: Subsidiary Ledgers and Special Journals.
1 The information on Subsidiary Ledgers and Special Journals is now an appendix to the text.