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:
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.
"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
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