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In the hospitality field, industry-specific financial and operational guidance is a requirement for success

Friedman LLP's Hospitality Group is dedicated to providing services to hotel and restaurant owners, operating managers, investors, and third party lenders. Our accountants and advisors fully understand the impact that unsettled workforce issues, evolving consumer demands and spiking operating and insurance costs have on the ability to reach target consumers and edge out the competition. Our partners work with you to mitigate those issues and help you make your operations more profitable.

 
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  • Audit, review and compilation services in preparation of financial statements on a basis of accounting in compliance with Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS) and other comprehensive bases of accounting
  • Evaluating internal controls on recording of revenue, accounts receivable, accounts payable, cash receipts, cash disbursements and payroll
  • Evaluating front desk procedures, operating and daily accounting procedures, night audit procedures and travel agent and commission procedures as they relate to hotels and restaurants
  • Reviewing proper reporting of tips and compliance with an IRS agreement, if one exists
  • Reviewing sales, occupancy, utility tax and other hotel-related tax returns for compliance with federal, state and local government regulations
  • Due diligence and special projects including mergers and acquisitions
  • Tax and succession planning for owners

 

 
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