PAPER

HOTEL ACCOUNTING
SAP 13

Group 6 Members:

Ayu Ratih Kusumadewi S (1406305007)

Ni Putu Lissya Suryantari (1406305175)

Ni Luh Lita Leonie Tirta Putri (1406305052)

FACULTY OF ECONOMICS DAN BUSINESS

UDAYANA UNIVERSITY
2017
 FINANCIAL INFORMATION ANALYSIS BASED ON USALI
ON THE HOTEL INDUSTRY

1. VERTICAL ANALYSIS METHOD (STATIC)

1. 1 Understanding Of Vertical Analysis Method
Vertical analysis method (static) is a analysis method by analyzing the
financial statement in one certain period yg comparing between one post and
another post of account in one period of financial statement. This is called
static method because this method only comparing among posts of financial
statement on the same period.
Munawir (2010:36) said that vertical analysis comparing each posts in the
current period with the total amount on the same statement can give benefit to
focus on significant relationship in the financial statement. The vertical
analysis on the balance sheet, each post of asset is showed in percentage from
assets total. Each post of liability and equity also showed in percentage from
the total of liability and owners equity.
1. 2 Classification Of Vertical Analysis Technique
There are two classifications of vertical analysis techniques such as:
1. Ratio Analysis, which is an analysis used to determine the relationship
between certain items(posts) in the balance sheet or profit / loss statement
either individually, or a combination of the two reports.
2. Break-even analysis, which is the analysis used to determine the level of
sales that must be achieved by the company so that companies do not
experience losses, but also have not gained profits. With this analysis, it could
known that the minimum level of sales must be achieved in order not to lose,
the lowest selling rate to make the decision to stop or continue the business,
the safety margin to maintain a certain profit level, or operating leverage to
know the competitiveness of the company / cooperative over its competitors.

1. 3 Example Of Vertical Analysis Method

Losso Hotel
Common Size Balance Sheet
Per 31 Desember
Assets 1991 % 1992 % 1993 %
Cash and Bank 18
10 10% 18% 24 24
Other Current Assets 30
35 35% 30% 26 26
Fixed Assets (net) 40
50 50% 40% 35 35
Other Assets 12
5 5% 12% 15 15
Total Assets 100 100% 100 100% 100 100%
Liabilities
Current Liabilities 15 15% 20 20% 17 17%
Long Term Liabilities 28
28% 37 37% 16 16%
Total Liabilities 43 43% 57 57% 33 33%
Equity
Shares Equity 27 27% 32 32% 43 43%
Retained Earnings 30 30% 11 11% 24 24%
Total Equity 57 57% 43 43% 67 67%
Total of Liabilities
100 100% 100 100% 100 100%
and Equity
(Source: Critical Analysis of Hotel Financial Statements, Sofyan Syafri Harahap, p.251)
Table Explanation:
This technique uses a pattern of simplification of the numbers
contained in the financial statements or can also be called "pengawaman"
financial statements. This process also requires a base number set as the basis
for calculating the conversion number. Without ignoring other figures, usually
for the balance sheet used total assets or total debt and capital as a basis with
the figure 100%, means that the assets will be presented to the total assets and
debt and capital items will presented to the total debt and capital . Thus, the
balance sheet will be the numbers of the layman in the form of a percentage to
total assets. Similarly, to the income statement. Without underestimating the
number of other posts, usually the basic post is a sale. The sales figure is
considered 100% so that the profit post / loss component below is associated
with a sales number converted to a percentage. So that all profit / loss posts
can be linked or linked to sales.

2. HORIZONTAL ANALYSIS METHOD (DYNAMIC)

2.1. Understanding Of Horizontal Analysis Methods (Dynamic)
The method of horizontal analysis (dynamic) is the method of analysis
performed by comparing the financial statements for several periods so it can be
known the development and tendency. It is called the horizontal method because this
analysis compares the same post for several different periods. Called dynamic
analysis because this method moves from year to year (period). In conducting a
horizontal analysis, an account of the current year's financial statements is compared
with the same account in the previous period. The increase or decrease in the number
of items is calculated as a percentage increase or decrease. In comparing reports
from two different periods, earlier financial statements are always used as the basis
for calculations for horizontal analysis.
2.2. Classification Of Horizontal Analysis Techniques
There are four classifications of horizontal analysis techniques such as:
1) Comparative Analysis, which is an analysis technique performed by
comparing financial statements for two or more periods.
2) Trend analysis (index), which is the technique of analysis to determine the
tendency (tendency) of the state / financial position and performance, whether
indicating a fixed tendency, decline or rise
 3) Analysis of Resources and Use of Funds (working capital or cash), the
analysis techniques used to determine the source and allocation of funds, as
well as the factors that affect the changes.
4) Gross Profit Change Analysis, is analytical techniques used to:
know the factors that cause changes in gross profit achieved by the company
from period to period,
know the level of gross profit achieved in a certain period compared to a
predetermined budget.

2.3. Examples Of Horizontal Analysis Methods

Balance sheet post Increase/Decre-
31 December Ratio
ase
2007 2008 Rp %
(A) (B) (C) (D) (E)
Cash 8000 16.000 8.000 100 2,0
Account Receivable 40.000 30.000 10.000 25 0,75
Goods 20.000 5.000 15.000 75 0,25
Land 75.000 90.000 15.000 20 1,20
Building 50.000 75.000 25.000 50 1,50
Other Assets 40.000 50.000 10.000 25 1,25
Total Assets 233.000 266.000 83.000 14 1,14
(Source: Critical Analysis of Hotel Financial Statements, Sofyan Syafri Harahap, p.251)
Table Explanation:
Column (C) denotes the changes occurring in absolute amount (sum in
rupiah) and is obtained from column (B) - (A), while column (D) indicates the
increase or decrease expressed in percentage. This percentage is calculated by
dividing the column (C) of each post by the amount contained in the previous
year's report or the year of comparison (base year). Column (E) is calculated
by dividing the number of Rupiahs per post from the year comparable to the
comparable year or the base year.

3. RATIO ANALYSIS
Ratio analysis is to use the company's data to calculate the ratios that reflect the
current company conditions in financial. By report analyzing the financial statements of the
information contained in the financial statements will be wider and deeper, the relationship
between the post one with zip others can be used as an indication of the company's financial
position as well as to demonstrate the correctness of the financial statements themselves. A
company manager services such as hotels, routinely need information that can be used to
evaluate the performance and business conditions that are running. Interpretation of the
balance sheet and income statement will be very helpful to know the company's financial
development. Interpretation can be arranged by size in the form of a ratio - a ratio that can be
used to predict the business and decision-making for the future. Liquidity ratios can be used
to determine the company's ability to pay off its short-term debts. Solvency ratios measure
how much debt compared to its assets. Solvency ratio also indicates the company's ability to
guarantee debt-debt to creditors, both short and long long activities. Ratiodemonstrate the
efficiency of use of the property company's activity in its business activity. While
Profitability is the ratio that indicates the company's ability to generate profits.
Discussion of calculation - the calculation of the above ratio we use balance sheet and
income statement Star Hotel in 2007 and 2008 as an example:

Balance Sheet
Star Hotel
December 31, 2007 and 2008
Description 2007 2008
Assets
Assets Current
Cash 503,000 520,000
Accounts Receivable (net) 190,000 160,000
Inventories 120,000 150,000
Prepaid Expenses 48,000 40,000
Total Current Assets 861 000 870,000
Investment 50,000 50,000
Property and Equipment (net) 7.483 million 7.49 million
Total Assets 8.394 million _ 8410 .000

Liabilities and Owners' Equity

Current Liabilities
Accounts Payable 192,000 225,000
Notes payable 40,000 25,000
Taxes payable 20,000 15,000
Advance deposits 30,000 50,000
Accrued Expenses 6,000 5,000
Current portion of mortgage 120,000 124,000
Total Current Liabilities 408,000 444,000
Long Term Debt -Mortgage Payable 4.12 million 4,000.000
Total Liabilities 4.528 million 4.444 million
Owners' Equity
Common Stock 3.312 million 3.312 million
Retained earnings 554,000 654,000
Total Owners' Equity 3.866 million 3.966 million
Total Liabilities and Owners' Equity 8.394 million _ 8.41 million
 Income Statement
Star Hotel
For Years Ended December 31, 2007 and 2008
Description 2007 2008
Total Revenue 1.4305 million 2.062 million
Rooms:
Revenue 906 500 1.22 million
Payroll and related expenses (175,500)
(295,000)
Other Direct Expenses (95,000) (215,000)
Departmental Income 636 000 710 000
Food and Beverage:
Revenue 512 000 817 000
Cost of sales (180,000) (310,000)
Payroll and Related Expenses (169,000) (245,000)
Others Direct Expenses (55,000) (90,000)
Departmental Income 108,000 172,000
Rental and Other Income Revenue 12,000 25,000
Gross Operating Profit 756 000 907 000
Undistributed Operating Expenses
Administrative and General 100,000 90,000
Marketing 65,000 64,000
Property Operation and Maintenance 80,000 70,000
Energy Cost 105,000 80,000
Total Undistributed Operating Expenses 350,000 304,000
Income Before Fixed Charge 406,000 603,000
Fixed Charge:
Rent 0 0
Insurance 75,000 95,000
Interest 25,000 25,000
Depreciation 245,000 295,000
Total Fixed Charge 345,000 415,000
Income Before Taxes 61,000 188,000
Income Taxes (0) (0)
Net Income 61,000 188,000

1) LIQUIDITY RATIO
The liquidity ratio used to determine companys performance to pay off or
guarantee short-term debt to current assets.
Current Ratio (Current Ratio)
Current Ratio = Current Assets_
Current Liabilities
 = 870,000 _
444,000
= 1.96
This ratio indicates that each of Rp1, Rp.1,96 current debts secured by current
assets. To assess whether the ratio is good or not, need to be compared with the average
standard of the hotel industry. Suppose an average standard hotel industry's current ratio
of 2: 1, the ratio of 1.96: 1 is less than 2: 1. It can be concluded that the Star Hotel are
likely to be difficult to pay off debt - short-term debt.
However, this ratio is not absolute because many hotels that operate without
difficulty despite having current ratios below 2: 1 .This is because in general the hotel
current assets in inventory numbers are relatively small.
At the hotel company, although it has a current ratio greater relative but the
composition of the supply is large enough, it will cause operational inefficiencies. This
type of supply in the hotel (foodstuffs, drinks and supplies), not easily sell / disbursed to
pay the debt.
Quick Ratio (acid Test Ratio)
The ratio rapidly measure of liquidity based on current assets that can be quickly
melted into a means of payment, namely cash, securities and receivables. In hotel
operations, although supplies are included as current assets but require a long time to
melt it into cash.
Acid Test Ratio = Cash + Marketable Securities + Accounts Receivable
Current Liabilities
= 520,000 + 0 +160,000
444,000
= 1.53
This ratio shows that every Rp. 1 - 1.53 current liabilities secured by liquid
assets that can be quickly disbursed. The ratio can be expressed in figures 1.53: 1 or
153%. To determine whether or not this ratio, it should be compared with the average
standard - the industry average. For example, the average - average industrial acid test
ratio of 1: 1, then 1.53: 1 is greater than 1: 1. It can be concluded that the management
is not difficult to pay off debt short. Acid term debt ratio test is the most appropriate
method to measure the level of liquidity of the hotel company.

2) SOLVENCY RATIO (SOLVABILITY)

Solvency ratios measure the level of hotel finance financed with debt and how
much the company's ability to meet all its debts in the short term or long term. On
general term, the company can pay its debts or guarantees that all his property if
larger than the entire debt
Asset To Total Liabilities Ratio
Asset to total liabilities ratio is the ratio of total assets to total debt. This
ratio is useful to see how big the property held to ensure that all debts.
Asset to total liabilities ratio = Total Assets
Total Liabilities
= 8.41 million
 4.444 million
= 1,89
This ratio indicates that any debts amounting to Rp1, - secured by assets
(assets) amounted to Rp. 1.89, -. To determine whether or not this ratio be
compared with the average ratio - the industry average. If the industry average for
the Assets to Liabilities Ratio of 2: 1, the ratio of 1.89: 1 is smaller dari2: 1.
Results The ratio means that assets owned enterprises are still not able to
guarantee the debts in full.
Debt To Equity Ratio
Debt to Equity Ratio is the ratio of total debt to equity. Total assets owned
by the hotel can be funded from debt sources (creditor) as well as from their own
capital (investor / owner). This ratio describes the relationship between the two
sources of funding. Ratio provide information how large debt-funded purchase of
assets compared with their own capital.
Debt to Equity Ratio = Total Liabilities
Total Equity
= 4.444 million
3.966 million
= 1.12
This ratio indicates that each of Rp1, - the investment made by investors
(owners), creditors have been funded by Rp.1,12. This shows that in the purchase
of assets, more financed by debt capital compared with owner;s equity. For
determine whether or not this ratio be compared with the average ratio of the
industry. If the average ratio - industry average of 0.60: 1, the 1.12: 1 is greater
than 0.60: 1.
For creditors, the higher this ratio means the higher the risk faced by a
creditor (lender) , due to the higher debt guaranteed by a hotel.

3) RATIOS ACTIVITY
Ratios measure the effectiveness of management activity in the use of
resources in the management company. Management effectiveness use of these
resources for example, accelerate collection of receivables that can be immediately
used to finance the operations and use the inventory to generate revenue from the sale.
Receivable Turnover Rate (Accounts Receivable Turnover)
Hotel sales transactions conducted largely on credit sales, so the accounts
receivable in the hotel business assets are sufficiently large compared with others.
Receivablefrom sales on credit to the guest is expected to be liquidated into cash ,
(assuming that all sales are credit sales,) the Receivable Turnover Rate is
calculated as follows:
Accounts Receivable Turnover = Total Credit Sales
Average A. Receivable
= 2.062 million
175,000
= 11.78 times
 Average Accounts Receivable = Beginning Ending +
2
= 190,000 +160,000
2
= 175,000
or greater this number the faster turnaround, it will be better, because there is the
possibility of the faster receivables liquidated into cash. Conversely the smaller
the rate is slower receivables liquidated into cash. If the average - industry average
of 20 times, 11.78 times less than 20 times. This indicates that the management
has not been effective enough in making use of receivables to finance the
operations.
Inventory Turnover (Inventory Turnover)
Turnover of inventory or inventory turnover, measured how fast
operational inventory. Spinning in general, the faster the spin the better inventory
effect on the operation. That may mean that the supply was taken for sale and
storage and maintenance costs can be reduced. Costs for maintenance and storage
of supplies, among others, namely: warehouse rental, insurance, electricity,
refrigeration, employees and the funds used to purchase supplies.
 Food and Beverage Department Income Statement
Star Hotel
For the Years Ended December, 31, 2008

Food Beverage
Sales 665,000 152,000
Cost of Sales:
Beginning Inventory 10,000 4,000
Purchase 275,000 66,000
Less: Ending Inventory (30,000) (10,000)
Cost Of Goods Used 255,000 60,000
Less : Employee Meals (5000) (0)
Cost of Goods Sold 250,000 60,000
Gross Profit 415 000 92 000
Expenses:
Payroll and Related Expenses 200,000 45,000
Other Direct Expenses 60,000 30,000
Total Expenses 260,000 70,000
Departmental Income 155,000 _ 22,000

Food Inventory Turnover = Cost of Food Used

Average food inventory
= 255,000
20,000
= 12.75 times
Average food inventory = Beginning + Ending
2
= 10,000 + 30,000
2
= 20,000

Inventory turns meals of 12.75 times over the years means that the
circulation of the reduced availability of 1 times a month. This figure means that
the overall purchase (charging) inventory conducted during the month. If
management standards set by 24 times, then 12.75 times <24 times, which means
the food is very slow turnover rate. Rotation of the slow food indicates that much
inventory piling up in warehouses.

As for the beverage inventory turnover rate of Star Awards 2008 can be
calculated as follows:

Beverage Inventory Turnover = Cost of Beverage Used

 Beverage Average Inventory

= 60,000

7,000

= 8.57 times

Average Bevg. Inventory = Beginning + Ending

+10,000 2

= 4,000

= 7,000

Beverage inventory turnover rate of 8.57 times mean that in a year will do
the charging / repurchase as much as 8 57 times or every 43 days. Not all beverage
items are always sold out during that period, but some other items in-stock return
during the period. In general, the hotel industry which has several bars and
lounges, the beverage inventory turnover reach 15 times per year, or 1.25 times
per month.

Slow turnover ratio is a waste (broken inventory in the warehouse) or

decreased quality, also affect financing (cost) is high due only partly usable.

4) PROFITABILITY RATIOS
Profitability Ratios Profitability Ratio or describe the performance and
accountability of management to manage the hotel.
Profit Margin (Profit Margin)
Management often evaluate their ability to generate profits (profit) of all
revenues from sales made. The profit margin is calculated as net income (net
income) divided by total revenue (total revenue).

Profit Margin = Net Income _ x100%

Total Revenue
= 188,000 x100%
2.062 million
= 9.12%
Ratio shows that Star Hotels net profit gained 9.12% of its revenue from
sales. The ratio is greater than the average - average profit margin of 5%
hospitality industry.
Operational Efficiency Ratio (Operating Efficiency Ratio)
Operating Efficiency Ratio also called Gross Operating Profit Ratio. This
ratio is used to measure the actual management performance without being
affected by the costs arising from the decision of the owner or investor, such as:
 depreciation, interest on bank loans and insurance. Meanwhile, revenues and
expenses incurred in the operation of a revenue center or support center
management is fully controlled. So that the measurement of operating efficiency
ratio is a measure of the ability of management to generate profit regardless of the
owner's decision.

Operating Efficiency Ratio = Income Before Fixed Charge x100%

Total Revenue
= 603,000 x100%
2.062 million
= 29.24%
Operating Efficiency Ratio of 29.24% indicates that every Rp.0,29 of sales
Rp.1, - available to cover load fixed (fixed charge) or every 29.24% of 100% of
the sales available to cover fixed load. It shows that management can manage the
revenues and costs under control (controllable revenues and expenses), so it is
available 29.24% to close steady load.
Return On Assets (ROA)
Return On Assets is a ratio that measures how much of the benefits arising
from the use of hotel assets. ROA was obtained by net income divided by total
assets. Return Star Hotel on assets is calculated as follows:
ROA = Net Income x100%
Average Total Assets

= 188,000 x100%
8.402 million
= 2.23%

Average Total Assets = Beginning + Ending

2
= 8,394,000 +8,410,000
2
= 8.402.000
ROA of 2.23% indicates that every Rp.1 of assets will generate a profit of
Rp.0,021 or 100% of assets will yield 2.23% amount his advantage. A low ROA is
an indication that the profits are too low or assets that are used are not utilized
efficiently, to produce the expected profit rate.

4. FINANCIAL INFORMATION ANALYSIS BASED ON USALI

a. Definition
Uniform System of Accounts for Lodging Industries is a standard format and
classification of estimates that lead to individual ownership in preparing and presenting
financial statements in the field of hospitality. The standardization helps users of internal
and external financial statements to compare their financial position and operating
performance on the same type of ownership in the hotel industry.
 There are several important concepts of Uniform System of Accounts for Lodging
Industries:
1. Divide the functional departments into 3 types namely:
a) Operations department, is a department that contributes revenue such as room, F
& B, telephone, laundry and others.
b) Department of overhead, is a support department, such as administration &
general, marketing.
c) Department of allocation, is a department that serves to allocate the burden on
each department, such as the personnel department to allocate salaries of
employees expense.
2. Each department within the organization will be burdened by employees salaries and
departmental expenses.
3. Provide uniformity within the department and in the classification of assets, debt,
income and expenses.
4. Gives the ability to compare results of operations.
5. Provide the ability to train strong budgetary controls where budget control is a tool for
controlling departmental results.

Uniform System of Accounts for the Lodging Industry contains five sections that
are subdivided into 15 sections. The discussions include the preparation of financial
statements of the hospitality industry, financial analysis, financial statement format,
guidance in allocating operational costs, preparation and control of operational budgets.
For example, the preparation of flow charts, simple recording examples in the hospitality
industry, and expense / cost dictionaries, and also sample reports resulting from the
application of the Uniform System of Accounts. One of the activities that need to be done
in the management of hotel business finance is the need for analysis of financial and
operational statements. Financial analysis associated with the operations aims to present
information in a structured about the state of the company's finances. The analysis of the
company's financial statements is basically to determine the level of profitability (profit)
and level of risk or level of company health. Financial analysis includes the analysis of
financial ratios, weakness analysis and financial and operational strengths, which are
helpful in assessing past management performance and prospects in the future. The
analysis includes information on: the achievement level of planned operational targets,
level of profit achievement, cost efficiency, effectiveness of cash and receivable
management, inventory management effectiveness and so on.
In the analysis of financial statements, there is a need to compare information.
Comparisons can be made on different grounds:
1) Intra company basis.
Compare a post or relationship of a companys financial in the current year with the
same post or relationship in previous years.
2) Average industry (Industry Averages)
Compare a post or relationship of a companys financial to the industry average
(norms) issued by a financial rating agency.
3) Intercompany basis (intercompany basis)
 Compare a post or relationship of corporate financial in the current year with the
same post or relationship in one or more other competing companies.

b. Analysis tools
Financial analysis related to operational can be done by using analysis tool in
the form of Financial Report and Daily Operational Report.
1. Financial Statements
The Hotel Financial Statement consists of 2 (two) main reports: Balance Sheet and
Income Statement. The financial statements present the company's financial
information in the past so that it describes "what has happened". The numbers
presented in the financial statements will only be data for management to know
the financial condition of the company, among others: the amount of cash, the
amount of accounts receivable, the amount of debt, the rate of profit. Without
further financial analysis, these numbers can not describe whether the condition is
favorable or detrimental to a company's financial health. The analysis provides
benchmarks and descriptions of the conditions for management to make business
decisions.
2. Daily Operations Report
Beside the Financial Statement, in the operation of the hotel also prepared daily
operational reports, which presents the level of operational achievement every
day. This report specifically presents the level of sales and statistics of two major
departments: Room and Food and Beverage. Because it is presented every day, the
management can immediately know the level of achievement of plans and
business targets every day. The analysis provides information on the level of
achievement of operational budget, achievement of sales level, pricing and
discount policy and business productivity.

c. Analytical Procedures
The analysis that doing from time to time is strongly influenced by several
factors, including: economy, market, competition, general conditions and so on. Thus,
these things need to be considered in the analysis.
1. Understanding the Background of Financial Data
The analysis is need to understand first the guidelines in the preparation of
financial statements. Accounting Policies that used, for example: FIFO for the
management of foodstuff inventory, Straight-line Method in calculating
Depreciation of Fixed Assets, Average Method for calculation of the price of
inventory, Method of Percentage of Cost for calculation of Selling Price, and so
on. System and Format of Financial Statement, it is necessary to understand the
format used in preparing the Financial Statements, for example in the hotel
financial statements, it is necessary to prepare the financial statements of each
department and the calculation of profit and loss of each department. In general,
the hotel financial statements are prepared based on the "Uniform System of
Account for Hotels" standardized by AHMA (American Hotel Motel Association).
2. Conditions Affecting the Business of a Hotel
 In doing analysis, it is necessary to consider the conditions affecting the business
of a hotel. Conditions such as: Economy, Tourism, Transportation, State Security,
Politics, Nature Conditions, Competition / market and so on. These conditions
may affect the company's financial condition beyond the limits of management
control. For example, a natural disaster in a city will affect the selling rate of a
hotel room (down), it is certainly beyond the limits of the management's ability to
market the hotel. These events need to be considered in analyzing.
3. Reviewing the Preparation of Financial Statements
Before analyzing the financial statements, it is necessary to review the preparation
of the financial statements from year to year. This step is very important to make
sure whether accounting methods are used consistently from year to year. Changes
in the method of depreciation of fixed assets (for example: from the Burden
Decrease method to the straight-line method) will affect the calculated profit
obtained. If this happens, then the increase in profits derived not from business
activities, but only from changes in accounting methods only.
4. Analyzing Financial Statements
The last step is to analyze the financial statements. Financial statement analysis
needs to be done because the financial statements prepared by the company is still
general and aimed not only for the interpretation and analysis. In doing the
analysis there are several techniques that can be used, one of which is with the
analysis technique Ratio Financial Statement
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