What does the CHAE exam cover?

Five sections of the CHAE Exam covering the below areas of competency:

Basic Accounting
Accounting theory
Accounting flow
General journal entries
Statement preparation

Managerial Accounting
Ratio analysis
Cost-volume-profit analysis
Profit planning
Forecasting
Internal controls

Asset Management
Cash management and analysis
Inventory control
Capital budgeting
Capitalized leases

Tax & Law
Basic partnership & corporate tax
Payroll/tip credit
Depreciation
Deferred tax
Sales taxes and property taxes
Basic innkeepers law
Wage and hour
Credit laws
Basics of contracts
Bankruptcy
Antitrust

Operations
Industry terminology
Yield management
Purchasing cycles and controls

What do the questions look like?

1. The normal balance of the retained earnings account of a hotel is:

a.       Debit
b.       Credit
c.       Either a or b
d.       Neither a or b

Answer: b

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