The first requirement of a financial reporting system is a uniform accounting procedure that allows for easy comparisons between financial reports within the same property, along with the operating results of other,' similar hotels. To facilitate these comparisons, the hotel industry has adopted the Uniform System of Accounts for Hotels (Hotel Association of New York City, Inc., Uniform System of Accounts for Hotels (8th ed.) HANYC, Inc. (1986)) which is a standard chart of accounts detail- ing exactly how each item of revenue and expense should be posted. This system allows the comparison of operating statistics among one or more properties.