Pablo Simon Yesterday In addition to the 4 basic financial s

Pablo Simon Yesterday In addition to the 4 basic financial statements, companies prepare m supplemental ones. What are some of the supplemental reports use hospitality company? Can you explain them? Reply

Solution

The 4 basic financial statements are:-

Hospitality company may prepare other supplementary reports as well. They can be:-

1) Room rents report - This report provides information of total room rents received in a day, in a month or in a year. Room rents is the main source of income for a hospitality company.

2) Restaurent sales report - This report provides information of resteurent sale in a day, in a month or in a year. Resteurent sales is the secondary source of income for a hospitality company.

3) Total occupancy report - This report shows the total occupany of the hotel rooms in a day, in a month or in a year.

4) Segment profitability report - This report gives segment wise income for an hospitality industry for eg- South region, west region etc.