HFTP and AHLA Announce 10-Year USALI Agreement
AHLA | December 22, 2022
HFTP/AHLA Committee Will Jointly Produce Hospitality Accounting Standard Washington/Austin, Texas (Dec. 22, 2022) — The American Hotel & Lodging Association (AHLA) and the Hospitality Financial and Technology Professionals Association (HFTP) announced today a 10-year agreement to jointly produce the Uniform System of Accounts for the Lodging Industry (USALI). The USALI is used all over the world as the “standard” for hospitality accounting, and today’s announcement reverses HFTP’s decision earlier this year to publish the next USALI edition without AHLA’s formal involvement. AHLA and HFTP have reengaged the joint Global F...
Hotels to Face New Accounting Regulations That Could Impact Bottom Line
Clark Nuber | October 10, 2018
(Bellevue, Wash., October 10, 2018): Hotels, motels and inns should prepare now for changing accounting regulations that will impact how they recognize revenue. "These new Generally Accepted Accounting Principles (GAAP) may significantly impact the bottom line of hospitality businesses," said Julie Eisenhauer, a CPA and shareholder of Clark Nuber, PS, in Bellevue, Wash. "Although the new rules won't take effect for private companies until 2019 and 2020, businesses would be wise to start planning for them now." One significant change involves customer loyalty programs, which allow customers to acquire additional accommodations or service...
Four Traits to Look for in an On-Demand Accounting Partner
Scott Watson | June 25, 2018
By Scott Watson Finding the right match in an accounting partner bears some similarities to finding the right partner in marriage. A solid accounting partner understands your (industry-specific) needs, acknowledges your flaws, and adjusts to any curveballs that come your way. If you think your business could benefit from outsourcing accounting functions, consider these three qualities as non-negotiable when picking a partner: Tailor-made service packages When searching for financial services, many companies are enticed by the promises of an ERP solution, only to find that the one-size-fits-all approach, add-ons, and contracts are anyt...
New Educational Institute Case Study Walks Students through Accounting Tasks
the American Hotel & Lodging Educational Institute (AHLEI) | August 13, 2014
Orlando, Florida, August 2014-The American Hotel & Lodging Educational Institute (AHLEI) has published a new learning resource to help hospitality management students better understand the many ways accounting is used at a hotel property. SeaSpray Hotel: An Integrated Hospitality Accounting Case Study shows students how managers and department heads use managerial accounting concepts and techniques in the daily operation of a hotel. The case study was written by Gurprit S. Chhatwal and Jean Abbott, who teach at Richard Stockton College of New Jersey. The extended case study presents a narrative that follows newly-hired controller Sa...
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