Is the Lodging Industry Ready for a 12th Edition of USALI?

The 11th edition of the Uniform System of Accounts for the Lodging Industry (USALI) went live on January 1, 2015.  This edition presented multiple updates such as changes to the way customers were reported in food outlets, new rooms revenue…

What to Expect: New Changes Coming to Lease Accounting Standards

Written By: Chris Garland, CHAE The upcoming revision to lease accounting standards was one of the topics discussed by the HFTP Hotel Advisory Council in their February 2018 meeting. The surprising conclusion from the council: The hotel industry in general…

HFTP 2018 Compensation & Benefits Survey

Compensation and Benefits… An Important Combination When Attracting and Retaining Talented Staff

Figuring out the right combination of compensation and benefits is the key to attracting and retaining top talent within your organization. Since 2002, the HFTP Americas Research Center has been tracking trends and publishing the HFTP Compensation and Benefits Survey….

Exploring the GHACP: A Valuable Resource for Hospitality Finance Professionals

HFTP has developed a unique resource for the hospitality industry — the Global Hospitality Accounting Common Practices (GHACP). The GHACP is an online resource and guide for hospitality industry accounting practices, which includes four major parts: operating schedules, indextionary, HFTP…

The Advisory Advantage: Help Other Professionals Get CHAE or CHTP Certified

Written By: Robin Bogdon, HFTP certification manager Your experience can make a difference! If you are an active CHAE or CHTP designee, you can apply to become an advisor to other professionals seeking to achieve their own HFTP certification designation….

Are You Ready for the New Revenue Recognition Accounting Standards?

By Chris Garland Revenue recognition standards have been converged and are now changing for both IFRS (IFRS 15) and US GAAP (ASC 606-10) beginning in 2018. US GAAP will allow non-public companies to transition beginning in 2019. After receiving input…

Online Travel Agencies and Occupancy Tax: A Proliferation of Lawsuits

By Amanda Belarmino Online travel agencies (OTAs) such as Expedia and Booking.com are the channel of choice for approximately 14 percent of all hotel bookings in the United States. Typically, these channels are responsible for collecting occupancy tax directly from…

Global Hospitality Accounting Common Practices (GHACP)

Answers found in the GHACP Database: Congratulations, you recently started a new position as director of finance at a resort in a remote tropical paradise. You decided you were ready for a change of pace from the big city hotel…

Chapter Events – December 1-15

Here is a look at the events our chapters have planned for the first half of December. December 1, 2016 Central Virginia Chapter 6:30 p.m. | Location TBD Holiday Celebration For further details and RSVP – CLICK HERE December 2, 2016 Charlotte/Blue…

Chapter Events – November 16-30

Here is a look at the events our chapters have planned for the second half of November. November 16, 2016 New Mexico Chapter  5:30 – 7:30 p.m. | REDW offices Accounting Ethics Presentation by Joyce L. Ellis, DBA, MAFM, CPA For further details and…