Accounting Essentials for Hospitality Managers

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Routledge, May 31, 2012 - Business & Economics - 360 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 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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Contents

Hospitality Decision Makers Use of Accounting
1
Chapter 2 Analysing Transactions and Preparing YearEnd Financial Statements
17
Chapter 3 Double Entry Accounting
33
Chapter 4 Adjusting and ClosingEntries
49
Chapter 5 Financial Statement Analysis
73
Chapter 6 Internal Control
97
Chapter 7 Cost Management Issues
125
Chapter 8 CostVolumeProfit Analysis
149
Chapter 10 Flexible Budgeting and Variance Analysis
199
Chapter 11 Performance Measurement
221
Chapter 12 Cost Information and Pricing
247
Chapter 13 Working Capital Management
269
Chapter 14 Investment DecisionMaking
293
Solutions to First Three Problems in Each Chapter
315
Index
345
Copyright

Chapter 9 Budgeting and Responsibility Accounting
167

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