The applied field of hospitality is worldwide in both scale and scope. While many business skills are routinely utilized in the field, the practice of accounting in U.S. hotels and restaurants is different than what is common for other industries. DePaul students are trained in the classic accounting principles that are in compliance with GAAP; however, hospitality firms follow a unique set of GAAP standards that have been customized for the hospitality industry. Students wishing to prepare for comptroller and related accounting leadership positions will need this specialized knowledge in order to be successful. Further, the role of management information systems developed for the hospitality industry is complex, integrative and specialized for these large-scale yet unique operations. The comptroller of a hotel or restaurant is often charged with the selection, implementation and oversight of such systems. Knowledge of system functionality, integration issues, and how financial data flows from one system to the next is required for the typical hospitality comptroller. A student majoring in Hospitality Leadership with this specialization must complete the following requirements totaling at least 12.0 hours:
Four required courses:
Degree Conferral Requirements
All Hospitality Leadership (HSP) courses and any other courses used toward the Hospitality Leadership major must be completed with a minimum grade of C- (or PA where specified) and with a combined GPA of 2.000 or higher.
HSP 387
HOSPITALITY ACCOUNTING II: CAPITAL MANAGEMENT & RISK
This course provides an in-depth understanding of the Balance Sheet for companies in the hospitality industry. The purpose of this class is to advance the hospitality student?s knowledge of accounting concepts. The class will provide students with an operational approach to the financial risks that exist in every organization as well as those unique to the hospitality industry. The class will also introduce students to the unique challenges of working capital management and control in the hospitality industry. The Hospitality Industry utilizes the Uniform System of Accounts to establish an industry-wide framework for reporting. The students will become familiar with the Uniform System of Accounts, its purpose and proper Balance Sheet application. This class, in conjunction with HSP 386, HSP 388 and HSP 389, will prepare the student to successfully sit for and pass the accounting portions of the Certified Hospitality Accountant Executive exam.
Prerequisites:
ACC 102 and HSP 386 are a prerequisite for this class.HSP 388
HOSPITALITY ACCOUNTING III: BUDGETS & LEASES
The purpose of this class is to advance the hospitality student?s knowledge of operating budgets, lease accounting and tax status of private clubs. This class, in conjunction with HSP 386, HSP 387 and HSP 389, will prepare the student to successfully sit for and pass the accounting portions of the Certified Hospitality Accountant Executive exam.
Prerequisites:
ACC 102 is a prerequisite for this class.HSP 389
HOSPITALITY ACCOUNTING IV: INFORMATION TECHNOLOGY SYSTEMS
In this course students are introduced to the critical information technology systems necessary to run a hospitality business including property management, distribution channels, revenue management, computing, and telecommunications. This class, in conjunction with HSP 386, HSP 387 and HSP 388, will prepare the student to successfully sit for and pass the accounting portions of the Certified Hospitality Accountant Executive exam.
Prerequisites:
ACC 102 and MIS 140 are a prerequisite for this class.HSP 386
HOSPITALITY ACCOUNTING I: REVENUES & EXPENSES
The application of accounting principles as applied in the hospitality industry is explored. The purpose of this class is to advance the hospitality student?s knowledge of accounting concepts related to the income statement using the hospitality industry version of the Uniform System of Accounts. The class increases the students understanding of the importance revenue recognition, expense classification, and matching of revenue and expenses for operational analysis purposes. Students will study payroll accounting, withholding and tax reporting requirements and regulations specific to the hospitality industry along with labor variances and their relevance to understanding operations and performance versus budgets. . This class, in conjunction with HSP 387, HSP 388 and HSP 389, will prepare the student to successfully sit for and pass the accounting portions of the Certified Hospitality Accountant Executive exam.
Prerequisites:
ACC 102 is a prerequisite for this class.