Managerial Accounting for the Hospitality Industry / Edition 1

Managerial Accounting for the Hospitality Industry / Edition 1

by Lea R. Dopson, David K. Hayes
     
 

A Clear, User-friendly Introduction to a Crucial Business Skill

Accounting is frequently called the language of business. But accounting is too serious a matter to be left only to accountants. If you care about effective hospitality management, accounting should not be a foreign language to you. This book provides all the information and tools you need to become

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Overview

A Clear, User-friendly Introduction to a Crucial Business Skill

Accounting is frequently called the language of business. But accounting is too serious a matter to be left only to accountants. If you care about effective hospitality management, accounting should not be a foreign language to you. This book provides all the information and tools you need to become fluent in the essential language of managerial accounting.

Managerial Accounting for the Hospitality Industry gives aspiring hospitality managers the knowledge to analyze and interpret the varied financial information they will use in the hospitality industry. Using a reader-friendly and encouraging style, the authors provide managers with all the accounting tools, theory, and applications they need to make good business decisions based upon sound financial information.

Comprehensive and accessible, Managerial Accounting for the Hospitality Industry includes key features such as:

  • Numerous practical examples throughout each chapter that clearly illustrate hospitality accounting concepts and theories
  • Consistent focus on how accounting principles apply directly to hospitality management decision making
  • A running case study utilized throughout the book provides opportunities for readers to apply accounting principles to real-world hospitality management decisions
  • Reader-friendly style that makes learning accounting fun
  • Extensive practice problems and assessment tools
  • Bonus CD-ROM with exercises that utilize manager-developed spreadsheets as aids in decision making and problem solving

Written by an accomplished author team, Managerial Accounting for the Hospitality Industry provides a unique approach rooted in current industry practices and is well-suited for a wide range of hospitality students and professionals.

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Product Details

ISBN-13:
9780471723370
Publisher:
Wiley
Publication date:
10/06/2008
Edition description:
New Edition
Pages:
528
Sales rank:
110,646
Product dimensions:
7.70(w) x 9.10(h) x 1.20(d)
Age Range:
3 Months

Table of Contents

Preface.

PART I: ACCOUNTING FUNDAMENTALS.

Chapter 1: Hospitality Industry Accounting.

Unique Aspects of the Hospitality Industry.

The Purpose of Accounting in the Hospitality Industry.

Branches of Accounting.

Why Hospitality Managers Use Managerial Accounting.

The Uniform System of Accounts.

Ethics and Hospitality Accounting.

The Blue Lagoon Waterpark Resort: A Case Study.

Can You Do the Math?

Review of Learning Outcomes.

Apply What You Have Learned.

Key Terms and Concepts.

Test Your Skills.

Chapter 2: Accounting Fundamentals Review.

Bookkeeping and Accounting.

The Accounting Formula.

Recording Changes to The Accounting Formula.

Generally Accepted Accounting Principles.

The Hospitality Business Cycle.

Review of Learning Outcomes.

Apply What You Have Learned.

Key Terms and Concepts.

Test Your Skills.

PART II: FINANCIAL STATEMENTS.

Chapter 3: The Income Statement.

The Purpose of the Income Statement.

Income Statement Preparation.

Income Statement Analysis.

Review of Learning Outcomes.

Apply What You Have Learned.

Key Terms and Concepts.

Test Your Skills.

Chapter 4: The Balance Sheet.

The Purpose of the Balance Sheet.

Balance Sheet Formats.

Balance Sheet Content.

Components of the Balance Sheet.

Balance Sheet Analysis.

Review of Learning Outcomes.

Apply What You Have Learned.

Key Terms and Concepts.

Test Your Skills.

Chapter 5: The Statement of Cash Flows.

Understanding Cash Flows.

The Purpose of the Statement of Cash Flows (SCF).

Sources and Uses of Funds.

Creating the Statement of Cash Flows.

Statement of Cash Flows Analysis.

Review of Learning Outcomes.

Apply What You Have Learned.

Key Terms and Concepts.

Test Your Skills.

Chapter 6: Ratio Analysis.

Purpose and Value of Ratios.

Types of Ratios.

Comparative Analysis of Ratios.

Ratio Analysis Limitations.

Review of Learning Outcomes.

Apply What You Have Learned.

Key Terms and Concepts.

Test Your Skills.

PART III: MANAGEMENT OF REVENUE AND EXPENSE.

Chapter 7: Food and Beverage Pricing.

Factors Affecting Menu Pricing.

Assigning Menu Prices.

Menu Price Analysis.

Review of Learning Outcomes.

Apply What You Have Learned.

Key Terms and Concepts.

Test Your Skills.

Chapter 8: Revenue Management for Hotels.

Overview.

Establishing Room Rates.

Revenue Management.

Non-Room Revenue.

Apply What You Have Learned.

Key Terms and Concepts.

Test Your Skills.

Chapter 9: Managerial Accounting for Costs.

The Concept of Cost.

Types of Costs.

Cost/Volume/Profit Analysis.

Review of Learning Outcomes.

Apply What You Have Learned.

Key Terms and Concepts.

Test Your Skills.

PART IV: ACCOUNTING INFORMATION FOR PLANNING.

Chapter 10: Forecasting In the Hospitality Industry.

Overview.

The Importance of Accurate Forecasts.

Forecast Methodology.

Utilizing Trend Lines in Forecasting.

Review of Learning Outcomes.

Apply What You Have Learned.

Key Terms and Concepts.

Test Your Skills.

Chapter 11. Budgeting and Internal Controls.

The Importance of Budgets.

Types of Budgets.

Operations Budget Essentials.

Developing an Operations Budget.

Monitoring an Operations Budget.

Cash Budgeting.

Managing Budgets through Internal Controls.

Apply What You have Learned.

Key terms and Concepts.

Test Your Skills.

Chapter 12. Capital Investment, Leasing, and Taxation.

Capital Budgeting.

Capital Investment.

Financing Alternatives.

Taxation.

Apply What you have Learned.

Key Terms and Concepts

Test Your Skills.

Glossary.

About the Authors.

Index.

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