Abstract
Different countries have developed their own accounting principles over time, making international comparisons of companies difficult. To ensure uniformity and comparability between financial statements prepared by different companies, a set of guidelines and rules are used. Commonly referred to as Generally Accepted Accounting Principles (GAAP), these set of guidelines provide the basis in the preparation of financial statements, although many companies voluntarily disclose information beyond the scope of such requirements. This paper aims to discuss the main methods to prepare the main financial statements in hospitality sector, so the researchers concluded that financial statements are the main reference in the provision of information on the financial position and performance, and changes in the cash position, they provide each class of financial statements published users a minimum of information to enable them to make decisions, taking into account that any special request every category, including the information unit, can provide them in exceptional cases and requirements depending on the circumstances.
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