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1. Describe the purposes of generally accepted accounting principles (GAAP) and the Uniform System of Accounts for Lodging Industry (USALI). 2. Explain the difference between

1. Describe the purposes of generally accepted accounting principles (GAAP) and the Uniform System of Accounts for Lodging Industry (USALI).

2. Explain the difference between centralized and decentralized accounting systems.

3. Identify five major accounting-related tasks for which GMs and their controllers are responsible.

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