How This Works
The HFTP Global Hospitality Accounting Common Practices web site enables you to learn and compare how full service hotels around the world structure their management accounts.
For each country from which data has been compiled, you can see examples typical of the country. You can also access as Standards this data for the 10th and 11th Revised Editions of the Uniform System of Accounts for the Lodging Industry, and a global standard compiled by HFTP.
The interactive part of the web site contains the following data:
Summary Operating Statement - where you can see examples of their content and drill down to the Departmental Schedules, and from there to the constituent Accounts and to the Items contained in each Account
Indextionary - where each Item of Revenue, Cost of Sales, Payroll and Related Expenses, Other Expenses and Assets can be explored, and identified as to which Account it is allocated
The item, account, department and explanations used within a specific country are kept in the original English format used by that country (i.e. US English, UK English or an English Hybrid). User should note this when searching for specific items as spelling vary depending on the dialect used.
You can decide to start by selecting the Region and Country you wish to review, and then select the data you want to access, or you can select the type of data you wish to review, and then select the Region and Country for which it relates.
A unique feature of the web site is the ability to select another Region, Country or Standard against which to compare the data. This enables you to access equivalent report formats, and to review the detailed content of Accounts by Item.
Within the Archives Section, there are files for each Region and Country that contain sample data as submitted by participating hotels, and from which the typical country examples were selected.
[Note that the web site is being continuously being updated as new input is received, and the user functions are fully developed]