Pearson New International Edition International pcl tp indd 1

GUEST CHARGES, PAYMENT, AND CHECK-OUT
David M.
Gr
ossman/P
hoto Resear
chers,
Inc.
499

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GUEST CHARGES, PAYMENT, AND CHECK-OUT
intentionally or unintentionally mislead readers, the result will likely be inaccurate
information leading to inadequate decision making. Therefore, financial information
reported by FOMs and controllers should follow generally accepted accounting
principles.
FRONT OFFICE SEMANTICS
Generally accepted accounting principles (GAAPs):
Standards and procedures that have been adopted
by those responsible for preparing business financial statements for the purpose of ensuring uniformity.
FOMs do not need in-depth knowledge of hotel accounting procedures, but
FOMs should understand these fundamentals of hotel accounting: differences
between bookkeeping and accounting, purposes of debits and credits, and front office
posting responsibilities.