Financial Management for Hospitality Decision Makers [NOOK Book]

Overview

Financial Management for Hospitality Decision Makers is written specifically for those 'decision makers' in the industry who need to be able to decipher accountant 'speak' and reports in order to use this information to its best advantage and achieve maximum profits.

The area of accounting and finance is a vital but often inaccessible part of the hospitality business. However, having the knowledge and the ability to use it properly makes all the difference to the turnover and ...

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Financial Management for Hospitality Decision Makers

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Overview

Financial Management for Hospitality Decision Makers is written specifically for those 'decision makers' in the industry who need to be able to decipher accountant 'speak' and reports in order to use this information to its best advantage and achieve maximum profits.

The area of accounting and finance is a vital but often inaccessible part of the hospitality business. However, having the knowledge and the ability to use it properly makes all the difference to the turnover and success of a business. Financial Management for Hospitality Decision Makers is written specifically for those industry executives who need to be able to decipher, appreciate and utilise valuable financial management tools and techniques in order to realise maximum profits.

Highly practical in its scope and approach, this book:

· Outlines the procedure and purpose behind various financial activities - including budgeting, year-end financial statement analysis, double-entry accounting, managing and analysing costs, working capital management, and investment decision making
· Demonstrates how an appropriate analysis of financial reports can drive your business strategy forward from a well-informed base
· Clearly highlights the key financial issues you need to consider in a host of decision making situations
· Includes a range of problems to help readers appraise their understanding of concepts - with solutions provided for lecturers at http://textbooks.elsevier.com.

At all times, the book rigorously applies itself to the specific needs of the hospitality decision-maker, contextualising and explaining financial decision making and control in this light.

Combining a user-friendly structure with frequent international cases, worked examples and sample reports to illuminate the theory, Financial Management for Hospitality Decision Makers is ideal for all students of hospitality, as well as being a vital source of information for practitioners already in the industry.

Practical guide to applying financial management strategies in hospitality decision making International examples and case studies to put the theory into practice Demonstrates how relevant management accounting information is to decision making and control in today's dynamic business environment

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Product Details

  • ISBN-13: 9781136403187
  • Publisher: Taylor & Francis
  • Publication date: 8/22/2007
  • Sold by: Barnes & Noble
  • Format: eBook
  • Pages: 238
  • File size: 4 MB

Meet the Author

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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Table of Contents

Introduction: hospitality decision makers use of financial management; Financial accounting: Analysis of transactions and year end financial statement preparation; double entry accounting; adjusting and closing entries; Management Accounting: Financial statement analysis; Cost management issues; Breakeven analysis; Budgeting and responsibility accounting; Flexible budgeting and variance analysis; Cost information and pricing; Financial management: Capital budgeting; Working capital management
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