Ahlei exam study guide - Study guides, Class notes & Summaries

Why is it important that you, a hospitality student or professional, study accounting? - As a user of financial information, you need to know how the information is processed and how reports are prepared. The fundamental purpose of accounting is to: - provide accurate, useful, and timely financial information. The fundamental accounting equation is: - assets = liabilities + equity In the double-entry system of accounting: - equal dollar amounts of debits and credits must be entered for ea...