3rd Edition

Accounting Essentials for Hospitality Managers

ISBN 9780415841092
Published February 12, 2014 by Routledge
384 Pages 22 Color Illustrations

USD $80.95

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Book Description

For non-accountant hospitality managers, accounting and financial management is often perceived as an inaccessible part of the business. Yet having a grasp of accounting basics is a key part of  management. Using an 'easy to read' style, this book provides a comprehensive overview of the most relevant accounting information for hospitality managers. It demonstrates how to organise and analyse accounting data to help make informed decisions with confidence.

With its highly practical approach, this new Edition:

  • Quickly develops the reader's ability to adeptly use and interpret accounting information to further organisational decision making and control
  • Demonstrates how an appropriate analysis of financial reports can drive your business strategy forward from a well-informed base
  • Develops mastery of key accounting concepts through financial decision making cases that take a hospitality manager's perspective on business issues
  • Presents accounting  problems in the context of a range of countries and currencies
  • Includes a new chapter that addresses a range of financial management topics that include share market workings, agency issues, dividend policy as well as operating and financial leverage
  • Includes a further new chapter that provides a financial perspective on revenue management
  • Includes accounting problems at the end of each chapter to be used to test knowledge and apply understanding to real life situations
  • Offers extensive web support for instructors and students that includes powerpoint slides, solutions to end of chapter problems, test bank and additional exercises.

The book is written in an accessible and engaging style and structured logically with useful features throughout to aid students’ learning and understanding. It is a key resource for all future hospitality managers.

Table of Contents

1. Introduction: Hospitality Decision Makers’ Use of Accounting  2. Analysing Transactions and Preparing Year End Financial Statements  3. Double Entry Accounting  4. Adjusting and Closing Entries  5. Financial Statement Analysis  6. Internal Control  7. Cost Management Issues  8. Cost-Volume-Profit Analysis  9. Budgeting and Responsibility Accounting  10. Flexible Budgeting and Variance Analysis  11. Performance Measurement  12. Cost Information and Pricing  13. Working Capital Management  14.  Investment Decision Making  15. Other Managerial Finance Issues   16. Revenue Management

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Chris Guilding is Professor of Hotel Management in the Department of Tourism, Sport and Hotel Management at Griffith University, Australia. His teaching specialism is in management accounting and he has taught on MBA, Masters in Hospitality Management, Professional Golfers Association, Australian Institute of Company Directors courses as well as undergraduate programmes. In addition to Australia, he has taught in Canada, Holland, Hong Kong, New Zealand, Singapore and the UK.




"This is an eminently readable book, which achieves its learning objectives with relevant real life examples and end of chapter exercises. It covers the basics as well as more advanced topics like revenue management, pricing tools and hotel management contracts in an incisive style that will appeal to everyone." Ruth Mattimoe, Lecturer in Management Accounting and Financial Statement Analysis at Dublin City University  

Support Material


Companion Website

Please visit our companion website for additional support materials.