Accounting Essentials for Hospitality Managers

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Routledge, 2009 - Business & Economics - 347 pages
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For non-accountant hospitality managers, accounting and financial management is often perceived as an inaccessible part of the business, yet understanding is crucial for success. Using an 'easy to read' style, this book provides a comprehensive overview of the most relevant accounting information for managers. It demonstrates how to organise and analyse accounting data to help make informed decisions with confidence.

With its highly practical approach, this book:

• 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 the key accounting concepts through financial decision making cases that take a hospitality manager's perspective on an issue
• Sets financial problems in the context of a range of countries and currencies
• Includes two new chapters on internal control and performance management
• Offers further resources at including a suite of worked contextualised cases in Tourism, Events and Sport Management

The all new companion website includes the suite of contextualised examples,
PowerPoint lectures aligned to each chapter, solutions to all end-of-chapter
problems, a student revision test bank and a password protected test bank
available to lecturers who adopt this book as required student reading. These
resources are SCORM compliant and compatible with institutions' Learning
Management Systems.

Dr. Chris Guilding is professor of Hotel management at Griffith University. He is a qualified member of the Chartered Institute of Management Accountants and has held
full time lecturing positions in universities in Australia, Canada, England and New Zealand. His research interests concern accounting applications in the hospitality sector and he has more than 40 refereed publications in a range of top journals that span the accounting, hospitality and tourism management fields.

* includes two new chapters on internal control and performance management, covering the increasingly important balanced scorecard
*develops mastery of the key accounting concepts through financial decision making cases that take a hospitality manager's perspective on an issue
*develops familiarity of financial problems in the context of a range of countries and currencies, including coverage of key accounting terms and financial statement types used in different countries
* makes key concepts accessible

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Hospitality Decision Makers Use of Accounting
Chapter 2 Analysing Transactions and Preparing YearEnd Financial Statements
Chapter 3 Double Entry Accounting
Chapter 4 Adjusting and ClosingEntries
Chapter 5 Financial Statement Analysis
Chapter 6 Internal Control
Chapter 7 Cost Management Issues
Chapter 8 CostVolumeProfit Analysis
Chapter 10 Flexible Budgeting and Variance Analysis
Chapter 11 Performance Measurement
Chapter 12 Cost Information and Pricing
Chapter 13 Working Capital Management
Chapter 14 Investment DecisionMaking
Solutions to First Three Problems in Each Chapter

Chapter 9 Budgeting and Responsibility Accounting

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About the author (2009)

Chris Guilding was Associate Professor in the school of Accounting Finance and Economics and since 2004 has been Professor of Hotel Management in the department of Tourism, Leisure, Hotel and Sport Management. His teaching specialism is in management accounting and he has taught on the MBA, Masters in Hospitality Management, Professional Golfers Association, Australian Institute of Company Directors Course and Undergraduate programmes. He is also Inaugural Director of the Services Industry research Centre (established 2003). He is co-editor for the journal Accounting, Accountability and Performance since 1998. In addition to the first edition of the proposed title, which was called Financial Management for Hospitality Decision Makers (2002), Chris Guilding has written with P. Auyeung and D. Delaney, The Key Elements of Introductory Accounting, 3rd edition (2006), John Wiley & Sons Australia Ltd and contributed to our International Encyclopedia of Hospitality Management (2005).

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