"Uniform System of Accounting for the Hotel Industry" of the generation
As early as 1926, the U.S. Hotel Association of New York City organized a group of accountants, the group's task is to design and implement a set of financial management system specifically suited to the hotel industry, which is the predecessor to today's "Uniform System of Accounting for the Hotel Industry," when the English called "UnifromSystemofSystemofAccounting. UnifromSystemofAccountsfortheHotel".
In 1961, at the request of its members, the American Hotel & Motel Association (AH&MA) commissioned the American Institute of Certified Public Accountants to develop another set of Uniform System of Accounts for small hotels and motels. Later, in 1979 and 1986, members of the AH&MA's Financial Management Committee revised the system on two separate technical occasions, based on feedback from the system's use.
In 1996, the Hotel Association of the City of New York, on behalf of the American Hotel and Motel Association (AH&MA) chapter of the Financial Management Committee, in conjunction with the International Association of Hotel Industry Accountants (IAHIA)*** revised the Uniform System of Accounting for the Hotel Industry. The Technical Committee of the Association of British Hotel Industry Accountants (ABHIA) was also involved in this effort. The Harmonized System of Accounting for the Hotel Industry (HSAS), as it is currently used, is the result of the joint work of these organizations. Its latest version is the 9th revision issued by the American Hotel and Motel Association (now renamed the American Hotel & Lodging Association, or AmericanHotel&LodgingAssociation, abbreviated as AH&LA) Institute of Education.
Since its introduction, the Uniform System of Accounting for the Hotel Industry has undergone nearly eighty years of practical testing. Nowadays it is commonly adopted all over the world as well as in Hong Kong, Macao and Taiwan. It can be said that this accounting system is a foreign hotel industry colleagues in the market economy conditions, operation, exploration, summarized the mature hotel industry accounting system and financial management model. Because of this accounting system of professionalism and maturity and application, it is also possible to make it today's international hotel industry in the prevailing accounting system.
Principles and characteristics of the Uniform Accounting System for the Hotel Industry
The Uniform Accounting System for the Hotel Industry (UASHI) provides financial information (financial statements) and operational information (statements of the operation of the various departments of the hotel), as well as a full set of accounting entries are in accordance with the principles of the General Accounting System (GAS), according to the characteristics of the accounting process of the hotel enterprise's operating profit and loss accounting design. The preparation of this system highlights the different responsibilities and rights of investors, owners and managers.
One of the features of the Uniform System of Accounting for the Hotel Industry is that the costs incurred during the operation of the hotel are divided into two categories, namely, operating costs and capital costs, with the responsibility for controlling operating costs resting with the operator, i.e., the general manager of the hotel, and the authority for controlling capital costs resting with the owner's organization, i.e., the board of directors of the owner company of the hotel.
Another characteristic of the hotel is the gross operating profit (GrossOperatingProfit, GOP for short) as the measure of the hotel's operating efficiency. Hotel owners use Gross Operating Profit as the main indicator for assessing the performance of hotel operators (see the attached table for details).
This accounting system also establishes a symbol of the modernized enterprise system in the hotel industry, that is, the principle of separation of ownership and operation. The establishment of this principle, in fact, later specialized in the operation of the hotel management company also played a role in promoting the rise. These two features of the unified accounting system of the hotel industry is also a fundamental difference with the current accounting system of the hotel industry in China.
"Hotel Industry Uniform Accounting System" and China's current hotel accounting system
One of the strong professionalism. Because this system is designed specifically for the hotel industry and its operating characteristics, rather than like our current "tourism, food service industry accounting system" that includes travel agencies, tourist fleets, tourist attractions, as well as hotels and restaurants and many other characteristics of the industry.
The second is "industry standardization". This system comes from the industry associations, is proposed as "industry norms", and as a "self-regulatory standards". Unified hotel data division and definition, so that the hotel's operating figures are comparable to each other, for the hotel to understand the market provides a favorable condition, but also promotes the improvement of the hotel industry management level. Because of the different starting point for the development of the system, so it is different from the national authorities from the macro-management point of view with the development of government statistics for the needs of the mandatory accounting system. With the deepening of China's reform and opening-up process, the hotel industry, as a service industry, will no longer rely on state investment and development, and the vast majority of hotels to the government authorities will no longer be subordinate to the upper and lower levels of affiliation, but rather, the relationship between taxpayers and the state. Therefore, the Uniform Accounting System for the Hotel Industry is also bound to be a good reference for the reform of the accounting system of the hotel industry in China. [Page]
Thirdly, it reflects the hotel industry "management accounting" needs. Unified Accounting System for the Hotel Industry" determines the scope of responsibility for the hotel's internal business objectives, a strict division of business management in the center of revenue generation and cost generation center; and operating gross profit before the scope of business operations and operating gross profit after the boundaries of the capital operation, and the establishment of a corresponding control and inspection system. Between business operation and capital operation, more emphasis is placed on business operation; between the utilization of financial information and business information, more emphasis is placed on business information. Focusing on the assessment of internal operational efficiency, i.e., reflecting and linking the actual results of budget management, cost control and accounting, analysis of operational differences (performance analysis), information feedback, and operational decision-making required by management accounting in the operational information. This is completely consistent with the operational target responsibility system practiced in some of our hotels. This is fundamentally the implementation of financial accounting based on the realization of management accounting and reflect the requirements of modern enterprise system management model.
Understanding and adopting the Uniform System of Accounting for the Hotel Industry is a need for international integration