Financial Accountant Versus Managerial Accountant in the Hotel Business System
Abstract
From the perspective of financial or managerial accountant, subject of interest in this paper is the
relationship of financial and managerial accounting in the hotel business. Being necessary functions
within the business system of hotel company, their mutual connection as well as their differences are
explained. The management of hotel company makes decisions based on accounting information from
both parts of accounting. As support to hotel management in decision-making, financial accountant
provides financial information about past events, while managerial accountant provides non-financial
information oriented toward future. The example above is just one out of many specific tasks, which
are performed by accountants of specific part of hotel accounting system. Without their support, the
management could not make correct and timely decisions with certainty. The importance of the roles
of financial and managerial accountant is reflected through need for a wide knowledge in the field of
accounting in specific business conditions of hotel industry