What Are The Roles Of Accounting In The Hospitality Industry?

Accounting plays a critical role in the hospitality industry by managing financial operations, ensuring accurate record-keeping, and aiding in budgeting and forecasting. It helps track revenue, control expenses, and assess profitability for services like lodging, dining, and events. Accounting also ensures compliance with tax regulations and financial reporting standards. By providing clear insights into financial performance, it supports strategic decision-making, improves operational efficienc