engleski

Accounting Standards in Globalisation Process

The transformation process of accounting in Croatian hospitality industry is a part of global process of change and restructuring. In the global economy information are the means of market competition. This is particularly important for hospitality industry, which continuously grows and substantially changes. Therefore, transparency in business becomes a necessary prerequisite for success. The accounting information is needed for comparison of the operational results in similar hospitality properties. Therefore, management accounting system has to be based on accounting theories, methods and practice, international accounting standards (IAS), generally accepted accounting principles (GAAP)– known as U.S. accounting standards, and standards used in hospitality industry – Uniform System of Accounts for the Lodging Industry (USALI).

IAS; GAAP; Globalisation; Hospitality Industry; USALI; Croatia

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