Accounting Policies Of Eih


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account policy of oberoi hotel

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Accounting Policies Of Eih

  1. 1. Accounting policies of East India Hotels Ltd. What is hospitality ?
  2. 2. What is a Hotel ? <ul><li>The word hotel derives from the French hôtel , which referred to a French version of a townhouse , not a place offering accommodation. </li></ul>
  3. 3. History of East India Hotel Ltd. <ul><li>1934 was a golden year for Rai Bahadur M.S. Oberoi. </li></ul><ul><li>In 1938 M.S. Oberoi takes over the management of the city's Calcutta Grand Hotel. </li></ul><ul><li>26 th may 1949 in Calcutta. </li></ul><ul><li>Promoted by Rai Bahadur M.S. Oberoi and Oberoi Hotels (India) Ltd. </li></ul><ul><li>Regarded as the father of 20th century India's hotel business. </li></ul><ul><li>In April 1955, he was elected President of the Federation of Hotel and Restaurant Associations of India. </li></ul><ul><li>1965 when, in partnership with international hotel chains, he opened the Oberoi Intercontinental in Delhi </li></ul><ul><li>The Group has a number of hotels worldwide, latest hotel additions being in Singapore , Saudi Arabia , Sri Lanka , Nepal , Egypt and Africa . </li></ul>
  4. 4. MAJOR SECTION OF EAST INDIA HOTEL <ul><li>Vilas property. </li></ul><ul><li>Oberoi property. </li></ul><ul><li>Trident property </li></ul><ul><li>(in collaboration with Hilton hotels.) </li></ul>
  5. 5. Accounting policies <ul><li>BASIS OF PREPARATION OF FINANCIAL STATEMENTS. </li></ul><ul><li>ACCOUNTING CONVENTION AND REVENUE RECOGNITION. </li></ul><ul><li>GOVERNMENT GRANT. </li></ul><ul><li>DEPRECIATION. </li></ul><ul><li>INVESTMENTS </li></ul><ul><li>INVENTORIES </li></ul>
  6. 6. Accounting policies contd. <ul><li>TRANSACTIONS IN FOREIGN CURRENCY. </li></ul><ul><li>RETIREMENT BENEFITS. </li></ul><ul><li>TAXES ON INCOME. </li></ul>