Preview Questions Hotel Accountant | Role Specific Skill

Question 1: How do you reconcile prepaid expenses for the hotel, ensuring they are accurately reflected in the monthly financials?

Which action should you take?

Choose only one option

Recognize all prepaid expenses as current liabilities.

Adjust prepaid expenses only when the service is rendered.

Amortize the prepaid expenses monthly and match them with the corresponding expense entries.

Ignore prepaid expenses and recognize them in the year they are incurred.

Question 2: When reconciling the guest ledger, what is the first step when you encounter a discrepancy between the front desk system and the accounting system?

Which action should you take?

Choose only one option

Investigate the transaction log for discrepancies and ensure all transactions have been recorded properly.

Adjust the figures in the system without verifying the underlying data.

Assume that the issue will resolve on its own in the next period.

Skip the investigation if the discrepancy is less than $50.

Question 3: When preparing a balance sheet for a hotel, how should liabilities and assets be classified?

Which action should you take?

Choose only one option

List all liabilities as long-term and all assets as current

Liabilities should be grouped into short-term and long-term, and assets should only be listed as current

Only include assets that have been fully paid for, excluding liabilities

Liabilities should be divided into current and non-current, and assets should be divided into current and non-current

Question 4: How should a Hotel Accountant account for fluctuations in occupancy rates when preparing a budget?

Which action should you take?

Choose only one option

Factor in historical occupancy trends, seasonal variations, and market conditions to make realistic projections

Assume full occupancy throughout the year, regardless of seasonality

Use a static occupancy rate for the entire year without adjustments

Set occupancy rates based only on expected demand from existing customers

Question 5: How would you approach preparing the P&L (Profit & Loss) statement for a hotel with fluctuating seasonal revenue?

Which action should you take?

Choose only one option

Use the same P&L template regardless of seasonality.

Exclude seasonality adjustments, as they are not needed for the P&L.

Report revenue and expenses based on average year-round performance.

Adjust revenue projections for each season based on historical data and forecasted trends.

Question 6: How should a Hotel Accountant manage room rate changes in the accounting system?

Which action should you take?

Choose only one option

Update rates only for confirmed bookings and ignore future reservations

Input the new rates into the system, ensure the changes are reflected in the revenue projections, and update existing guest bookings as necessary

Adjust the rates manually for each guest as they check in

Ignore the room rate changes and apply the old rates to all new bookings