2nd Edition
Basic Management Accounting for the Hospitality Industry
Basic Management Accounting for the Hospitality Industry
This second edition contains many new themes and developments, including:
- the essence of the International Financial Reporting Standards (IFRS)
- integration of the changes caused by the evolution of the Uniform System of Accounts for the Lodging Industry (USALI)
- the extension of price elasticity of demand, and addition of income and cross elasticities
- the addition of break-even time (BET) as an additional method of analysing capital investments
Up-to-date and comprehensive coverage, this textbook is essential reading for hospitality management students. Additional study and teaching materials can be found on www.hospitalitymanagement.noordhoff.nl
1. Introduction to management accounting
2. The balance sheet
3. The profit and loss account statement
4. Adjustments to the balance sheet and the profit and loss account
5. The cash flow statement (also called the statement of cash flow)
6. Analyzing financial statements
7. Ratio analysis and types of ratios
8. Management of working capital
9. Cost management
10. Pricing and Revenue Management
11. Cost-volume-profit analysis
12. Internal control Forecasting
14. Budgeting and variance analysis
15. Capital investment decisions
Biography
Michael Chibili