FINANCIAL REPORTING IN THE LODGING INDUSTRY FROM THE SEGMENT REPORTING ASPECT

Abstract

Quality of accounting reporting system reflects the accomplisheddevelopment stage of the accounting information system and its ability to satisfydifferent external and internal accounting information needs. One of the mostimportant sources of information about the efficiency of any business subject isfinancial statements. The paper considers the financial statements reportingrequirements for the Lodging Industry, which are set in (beside of the IASB and theFASB regulation) Uniform System of Accounts for the Lodging Industry (USALI).The aim of this paper is to disclose possibilities of Segment Reporting in the LodgingIndustry enterprises to demonstrate the true and fair view of theirs financialsituation. For business transparency, the most important accounting information arebased on segment reporting standards. Enterprises in the Lodging Industry to satisfyexternal and internal users needs have to set up theirs financial statements accordingto requirements of IAS 14 and SFAS 131. Furthermore, USALI methodology has to beadjusted to the real organizational structure and real information requirements ofparticular company.the lodging industry, IAS