© 2011 – Routledge
Basic Management Accounting for the Hospitality Industry deals with a range of topics: commencing with a basic introduction to management accounting; and ending with capital investment decisions.
The objective of the book is to provide an introduction to the basic management accounting concepts and applications based on Einstein's maxim that 'everything should be made as simple as possible, but no simpler'. This choice of simplification is due to the fact that the level of English used in the text takes into consideration that a good proportion of students in hotel or tourism-related education use English as a second language.
The approach used in the book makes it very comprehensible. It takes the reader clearly and logically through the concepts and applications of hospitality management accounting. Students involved with hospitality and tourism degrees will find this text enables them to independently master the subject.
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 6. Analyzing Financial Statement 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 13. Forecasting 14. Budgeting and Variance Analysis 15. Capital Investment Decisions