Happy New [Hustle] Year

So, I got an opportunity to work as an accountant in a ‘somewhat standard’ Hotel, Club, Bar and Lounge.

the challenge....
I'm fresh out of Naija Uni where we barely understood practical real-life applications of key concepts, principles, and calculations.

....But since the CEO is a family friend who wants ‘his person’ to be a key player in the running of the set up, particularly finance, I was preferred . Even with zero experience.

Days after accepting the offer, i’m still trying to understand how the hospitality industry works. Particularly hotel accounting, which seems somewhat unique.

Salary preparation
Budgeting; planning, and control
Internal control
Taxation
periodic Preparation and reporting of Financial statements
Etc

It can feel depressing when I'm not sure how this and that works. Even when i think I have the book knowledge, I’m not always too sure how to apply them accurately.

so, I'm wondering. Are there seasoned hotel accountants willing to discuss the intricacies of hotel accounting and, at large, management?

I'll sincerely appreciate any useful tips and resources to help newbies grow, productively, in this niche?

Please, help: How does hotel accounting actually work?

I'll give you all the necessary information and ledge format needed to run. But on an exchange. I'll love to take care of the hotel supply. General needs from Toiletries, food and drinks e.t.c. If you're good with it.


Quote me. I'll drop my email.

I will give u practical guide on exchange of fee.

Dm

Or

Call 07067294966

Holdon, walk into any hotel close by and ask for the accountant and explain your predicament to him. He may help you but I can connect you with my acct friend if you want.

bugatti02:
I'll give you all the necessary information and ledge format needed to run. But on an exchange. I'll love to take care of the hotel supply. General needs from Toiletries, food and drinks e.t.c. If you're good with it.


Quote me. I'll drop my email.

Sorry about the delayed response.

Your offer looks good. But I was just introduced to the set up which has been for years. Expectedly, we have regular suppliers for most of these items.

However, kindly drop your email/phone number. If your stuffs are comes with cheaper price tags, who knows?

I'm hopeful !

galantjoe:
I will give u practical guide on exchange of fee.

Dm

Or

Call 07067294966

Lol. We no just fit share knowledge on the thread to help us all grow?

It's understandable though - knowledge isnt cheap.

I'll reach out lets talk.
Regards

excellence44:
Holdon, walk into any hotel close by and ask for the accountant and explain your predicament to him. He may help you but I can connect you with my acct friend if you want.

Thanks for your advice boss. But approaching a random person(no referrals, no nothing) can be tricky.

However, Ill appreciate to link up with your accountant friend.

Gratitude

Search for "Accounting Yard" on Youtube/facebook/Insta/LinkedIN .You will get the answers you need and practical accounting knowledge and any training you need.

Holdon:
Happy New [Hustle] Year

So, I got an opportunity to work as an accountant in a ‘somewhat standard’ Hotel, Club, Bar and Lounge.

the challenge....
I'm fresh out of Naija Uni where we barely understood practical real-life applications of key concepts, principles, and calculations.

....But since the CEO is a family friend who wants ‘his person’ to be a key player in the running of the set up, particularly finance, I was preferred . Even with zero experience.

Days after accepting the offer, i’m still trying to understand how the hospitality industry works. Particularly hotel accounting, which seems somewhat unique.

Salary preparation
Budgeting; planning, and control
Internal control
Taxation
periodic Preparation and reporting of Financial statements
Etc

It can feel depressing when I'm not sure how this and that works. Even when i think I have the book knowledge, I’m not always too sure how to apply them accurately.

so, I'm wondering. Are there seasoned hotel accountants willing to discuss the intricacies of hotel accounting and, at large, management?

I'll sincerely appreciate any useful tips and resources to help newbies grow, productively, in this niche?

Please, help: How does hotel accounting actually work?

if you can drop your contact for a chat on WhatsApp, I will connect you to my brother who currently manages accounts for a company into hotel, lounge and restaurants.

prophetwis:
Search for "Accounting Yard" on Youtube/facebook/Insta/LinkedIN .You will get the answers you need and practical accounting knowledge and any training you need.

Prophetwis, a million thanks. Will do right away and share my experience here

Regards

Chai! Are you telling me that you can't apply accounting principles to prepare a journal, ledger, cash book, petty cash book, trial balance, final account(income statements), and statement of financial position (balance sheet).

It is glaring that it would be difficult for you to apply IAS's and IFRS.

Forget that you have no practical experience, if you are good, all that I mentioned above shouldn't be a problem for a good graduate of accounting students.

The budgeting aspect, use the previous years and the present economic situation of the environment as your basis to set up the budget. Your budget should be on long and short term basis; and make sure you review your short term budget at the end of every month to pick out any lapses.

Regards.