Global Hospitality Accounting Common Practices

GHACP (Common Practices)

The Global Hospitality Accounting Common Practices is better known as the GHACP. The GHACP is an accessible online resource and guide for hospitality industry accounting practices. The site provides a searchable database of detailed operating financial reporting practices used at lodging properties around the world, an indextionary, along with guidance on industry standards and best practices.

The database includes information from the Uniform System of Accounts of the Lodging Industry (USALI), 10th and 11th editions; the Uniform System of Financial Reporting for Clubs (USFRC), 7th edition; and schedules from properties based in Hong Kong; Shanghai, China; Netherlands; United Kingdom; and France. 

The resource has four parts: 

Operating Schedules
Examples of summary and departmental operating schedules by region which can be viewed alone or compared side-by-side to other regions.

Indextionary
Combination of the words “index” and “dictionary”. A comprehensive database of items compiled from participating hotels worldwide which can be compared across regions. 

Common Practices
Access to articles providing financial benchmarks, checklists, and other accepted hospitality industry accounting and financial standards.

HFTP Global Database
All items in the GHACP are combined into the HFTP Global Database which allows users to conduct a global inquiry and search for individual items. To-date, the database hosts over 30,000 regional items!

 

Access the GHACP

HFTP members have free access to the GHACP site. To access the site, you will be asked to enter your HFTP website login and password. If you are not an HFTP member, subscribe now to use the site.

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Please send any comments, questions or concerns to Tanya Venegas, MBA, MHM