The Uniform System of Accounts for the Lodging Industry, Eleventh Revised Edition is now available for purchase from the American Hotel & Lodging Educational Institute (EI). The publication is a joint effort of the Hotel Association of New York City and the Financial Management Committee of the American Hotel & Lodging Association (AH&LA), sponsored by Hospitality Financial & Technology Professionals (HFTP).
The print version of the revised book is packaged with a keycode that enables readers to access and download Excel templates of all financial statements and supporting schedules, as well as a searchable Revenue and Expense Guide. Readers will also be able to post questions about items in the book, which will be answered by members of the Financial Management Committee. These online features will also be available to those who purchase the digital version of the book. The digital version is currently available as a web-based eReader (not downloadable); when the product becomes available for Apple and Android devices, customers will receive access to that version.
Every section of the Uniform System of Accounts for the Lodging Industry has been updated to reflect the latest practices for recording financial information. According to Ralph Miller, CPA, CA, CBV, CHA, CHAE,President of Inntegrated Hospitality Management Ltd., and vice chairman of AH&LA's Financial Management Committee, the average term of service for an edition of the Uniform System of Accounts for the Lodging Industry has been eight years.
"The revision process itself generally takes two to three years, in order to appropriately research and consider all of the potential changes required to this important industry standard. The need for formal revisions will likely continue based on the historic timeframe, with each new edition capturing and reflecting five to eight years in change in the industry," Miller explained. An extensive list of changes to the new edition can be found on the "Details" tab of the product listing in EI's online store.
The print version of the Uniform System of Accounts for the Lodging Industry, Eleventh Revised Edition, is available for $59.95 for AH&LA members and $89.95 for nonmembers. The digital edition is $34.95 for AH&LA members and $52.95 for nonmembers. To order, visit https://www.ahlei.org/USALI or call 1.800.349.0299 or +1.407.999.8100.
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