Accounting and financial analysis in the hospitality industry
Author(s)
Bibliographic Information
Accounting and financial analysis in the hospitality industry
（Butterworth-Heinemann hospitality management series）
Elsevier Butterworth-Heinemann, c2005
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Note
Includes index
Description and Table of Contents
Description
The objective of this textbook is to teach students to be conversational in speaking numbers. This means understanding fundamental accounting concepts, developing solid financial analysis abilities, and then applying them to understand and improve the operational performance of their hotel or restaurant. The book will accomplish this by studying the current practices of some of today's leading hotel and restaurant companies. Chapters will be developed under the auspices of a select group of hospitality industry, General Mangers, Directors of Finance, and Regional Accounting Managers, to ensure that the information is current, accurate and useful. Understanding and applying the information will be the main focus of this book.This textbook should provide hospitality managers the knowledge and experience to be comfortable in using numbers to operate their departments. This includes developing the ability to perform all accounting and financial aspects of their position efficiently and correctly including revenue forecasting, wage scheduling, budgeting, P&L critiques, purchasing procedures and cost control methods.
As a result, they will have more time to spend on the floor with their customers and employees. This knowledge will help them understand their operations and how to improve, change or expand them to increase revenues or profits. The book introduces the fundamentals of hospitality accounting from an applied perspective with real industry examples. It is developed under supervision of industry experts. It incorporates career success model to place subject in a larger context for students.
Table of Contents
Preface Chapter 1 Introduction to Numbers, Accounting, and Financial Analysis Chapter 2 Foundations of Financial Analysis Chapter 3 Accounting Office Organization and Operations Chapter 4 The Profit and Loss Statement Chapter 5 The Balance Sheet and Statement of Cash Flows Chapter 6 Hotel Management Reports Chapter 7 Revenue Management Chapter 8 Comparison Reports and Financial Analysis Chapter 9 Forecasting A Very Important Management Tool Chapter 10 Budgets Chapter 11 Corporate Annual Reports Chapter 12 Personal Financial Literacy Glossary Index
by "Nielsen BookData"