Following a successful debut edition, this new Second Edition of Managerial Accounting for the Hospitality Industry builds on its strengths of clear organization and the ease with which students work through it. This new edition includes more basic math support for students and a more developed inclusion of ethical considerations and global changes both in accounting systems and in the hospitality industry.
The success of every business in the hospitality industry depends on maximizing revenues and minimizing costs. Hospitality Man-agement Accounting, Ninth Edition continues its time-tested presentation of fundamental concepts and analytical techniques that are essential to taking control of real-world accounting systems, evaluating current and past operations, and effectively managing finances toward increased profits. This accessible Ninth Edition offers hands-on coverage of computer applications and practical decision-making skills to successfully prepare readers for the increasingly complex and competitive hospitality industry.
This is the eBook of the printed book and may not include any media, website access codes, or print supplements that may come packaged with the bound book. Hospitality management students and professionals responsible for accounting functions at their property, or who aspire to a career in hospitality accounting, will benefit from this textbook. This textbook includes everything readers will need to gain a clear understanding of managerial accounting in a hospitality setting. Chapters reflect new tax laws and the impact of the Sarbanes-Oxley Act, as well as the results of new survey research on updated practices in capital budgeting and leasing. Readers will learn to make effective choices based on the numbers that affect daily operations, develop on-target budgets and control cash flow, reach profit goals with the help of financial reports and other tools, and apply the latest uniform systems of accounts for hotels and restaurants.
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. Online extras Additional study and teaching materials can be found on www.hospitalitymanagement.noordhoff.nl
Volume one of the Handbooks of Management Accounting Research sets the context for both Handbooks, with three chapters outlining the historical development of management accounting as a discipline and as a practice in three broad geographic settings. The bulk of the first volume then draws together a series of contributions that analyse the scholarly literature in terms of distinct intellectual and theoretical social science perspectives. The volume includes a chapter which looks at work informed by psychology as a base discipline. The volume also includes a set of chapters that seek to evaluate and explain issues of research method for the different approaches to research found within management accounting. Special pricing available if purchased as a set with Volume 2. - Documents the scholarly management accounting literature - Publishing both in print, and online through Science Direct - International in scope
For non-accountant hospitality managers, accounting and financial management is often perceived as an inaccessible part of the business. Yet having a grasp of accounting basics is a key part of management. Using an 'easy to read' style, this book provides a comprehensive overview of the most relevant accounting information for hospitality managers. It demonstrates how to organise and analyse accounting data to help make informed decisions with confidence. With its highly practical approach, this new Edition: 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 key accounting concepts through financial decision making cases that take a hospitality manager's perspective on business issues Presents accounting problems in the context of a range of countries and currencies Includes a new chapter that addresses a range of financial management topics that include share market workings, agency issues, dividend policy as well as operating and financial leverage Includes a further new chapter that provides a financial perspective on revenue management Includes accounting problems at the end of each chapter to be used to test knowledge and apply understanding to real life situations Offers extensive web support for instructors and students that includes powerpoint slides, solutions to end of chapter problems, test bank and additional exercises. The book is written in an accessible and engaging style and structured logically with useful features throughout to aid students’ learning and understanding. It is a key resource for all future hospitality managers.
Previously published as Managerial Accounting in the Hotel and Catering Industry, this book has been substantially revised, expanded and updated in order to keep abreast of current accounting developments and their applications in the hotel, restaurant and catering industry.
Presents research and developments in the field of accounting and financial management as it relates to organisations in the international hospitality industry. Draws on researchers' fieldwork and practical experience, and includes case studies and examples from a range of companies across the industry. Covers a number of issues including: performance management, benchmarking, the profit planning framework, room rate pricing decisions, hotel asset management, and lowering risk to enhance firm value.
The Blue Book is an ultimate guide for financial and management accounting in the hotel industry, and it is like no other. Some academic books for the hospitality industry do exist; however, as the term "hospitality industry" refers to lodging, food & beverage, event planning, transportation, and recreation, the industry is already complex on its own. It explains why such books do not conveniently cater to a hotel's needs. Moreover, these books dedicate many pages to corporate financing, which has little or nothing to do with the property level. Although there are some ground rules within the hospitality industry, the hotel has its unique accounting procedures and techniques, and this is when this book plays a main role.With over twenty years of valuable experience with the best international hotel operators in six countries, the author shares the essential and practical knowledge and guidelines to build a strong Finance Division in hotels. Therefore, this book perfectly caters to all financial professionals, from the start of their careers to becoming finance leaders.The contents of this book are certainly comprehensive and thorough - highly relevant and easy to understand. This makes it suitable for financial professionals, stakeholders including division heads, general managers, auditors, owners, and owner's representatives. All will greatly benefit from it. The Blue Book includes the following twelve parts that provide the most essential needed information to understand the hotel finance functions and to build a strong finance division:Part One: Basic AccountingPart Two: Revenue ManagementPart Three: Cost ManagementPart Four: Labor ManagementPart Five: Other Expenses GuidelinesPart Six: Financial AnalysisPart Seven: Budgeting and ForecastingPart Eight: Cash ManagementPart Nine: Hotel InvestmentsPart Ten: Hotel Management SoftwarePart Eleven: Financial Functions and SOPsPart Twelve: Parent-Child Chart of AccountsThis book uses the Uniform System of Accounts and GAAP as its main reference, ensuring that the information provided to the readers is the most updated and relevant version of the modern hotel industry.
