Accounting Essentials for Hospitality Managers
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 organize and analyze 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 organizational 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 www.routledge.com/tourism including a suite of worked contextualized 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.
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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 9 Budgeting and Responsibility Accounting
Other editions - View all
31 December accounting system accounts payable accounts receivable achieved adjusting entries allocated analysis average room rate balance sheet balanced scorecard bank account bank reconciliation bank statement breakeven budget variance calculated capital cash flow Chapter company’s contribution margin cost centre Cost of sales current assets debit December 20X1 decision-making depreciation determine double entry accounting double room earned efficiency variances employee example Exhibit expense factors fixed asset fixed costs flexible budget highlights increase indirect costs internal control International Thomson Publishing inventory labour laundry liabilities Management Accounting manager’s marketing month operating organisation organisation’s owners P&L statement pastries payment performance measurement system period prepared present value Problem profit purchase ratio receipts Required restaurant result revenue revpar room night room sales sales volatility schedule signifies staff strategy target Tourism transactions turnover variable cost year-end year’s yield management