CHAPTER ONE
INTRODUCTION
1.0 BACKGROUND OF THE STUDY
The purpose of this research work is basically to explain the accounting procedure in a hotel. For a proper understanding of the study, it is wise to first of all explain the meaning of hotel. Thereafter, the meaning of accounting will also be looked into in a separate term. Also, the meaning of accounting procedure will be observed, then, accounting procedure in relating to hotel firm will be explained. For a proper understanding, Royal Marble hotel Benin City was used as a case study. Hotels follow the general principles of accounting, but because of the exclusive nature of a hotel when compared to other organization, hotel accounting departments use terms that may not be familiar to accountants in other organizations or industries. Accounting terms related to the management of guest payments, charges and disputes can be confusing to outsiders, but they represent everyday concepts in the hotel industry.
Accountants recognize the importance of proper hotel accounting procedures, as it is the foundation upon which all financial decisions are based. They have a knowledgeable and dedicated hotel Accounting Team to ensure the highest level of support possible to each investor. With a comprehensive centralized hotel accounting system, they provide essential hotel accounting services to investors interested in accounting for hospitality. The practice of accounting has been a practical one since the inception. This is one of the notions in the writers mind when carrying out this study. Here, practical involvement in this work unveils the most of the accounting operations as are being obtained in the hotel.
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