Front Cover; Accounting and Financial Analysis in the Hospitality Industry; Copyright Page; Contents; Preface; Foreword; Chapter 1. Introduction to Numbers, Accounting, and Financial Analysis; Numbers: The Lifeblood of Business; Career Success Model; The Three Main Financial Statements; Revenues: The Beginning of Financial Performance; Profit: The Ultimate Measure of Financial Performance; Summary; Hospitality Manager Takeaways; Key Terms; Formulas; Review Questions; Chapter 2. Foundations of Financial Analysis; Fundamental Methods of Financial Analysis; Comparing Numbers to Give Them Meaning

Measuring Change to Explain PerformanceUsing Percentages in Financial Analysis; Four Types of Percentages Used in Financial Analysis; Trends in Financial Analysis; Summary; Hospitality Manager Takeaways; Key Terms; Formulas; Review Questions; Problems; Chapter 3. Accounting Department Organization and Operations; Organization Charts; Accounting Operations in Full-Service Hotels; Accounting Operations in Restaurants and Smaller Hotels; Summary; Hospitality Manager Takeaways; Key Terms; Review Questions; Chapter 4. The Profit and Loss (P&L) Statement; Hotel Consolidated P&L Statements

Formats for a Consolidated P&LDepartment P&L Statements; Summary; Hospitality Manager Takeaways; Key Terms; Review Questions; Chapter 5. The Balance Sheet (A&L) and Statement of Cash Flow; The Balance Sheet or Asset and Liability (A&L) Statement; Working Relationships between the Balance Sheet and the P&L Statement; The Statement of Cash Flow; Summary; Hospitality Manager Takeaways; Key Terms; Review Questions; Chapter 6. Hotel Management Reports; Internal Hotel Management Reports; Daily Reports; Weekly Internal Management Reports; Monthly Internal Management Reports; Summary

Hospitality Manager TakeawaysKey Terms; Review Questions; Chapter 7. Revenue Management; REVPAR: Revenue per Available Room; Rate Structures and Market Segments; Revenue Management Systems; Selling Strategies; Summary; Hospitality Manager Takeaways; Key Terms; Review Questions; Chapter 8. Comparison Reports and Financial Analysis; Profitability: The Best Measure of Financial Performance; Review of Chapter 2: Foundations of Financial Analysis; Variation Analysis; STAR Market Report; Summary; Hospitality Manager Takeaways; Key Terms; Review Questions

Chapter 9. Forecasting: A Very Important Management ToolForecasting Fundamentals; Types and Uses of Forecasts; Revenue Forecasting; Wage Forecasting and Scheduling; Summary; Hospitality Manager Takeaways; Key Terms; Review Questions; Problems; Chapter 10. Budgets; The Use of Budgets in Business Operations; Annual Operating Budgets; Formulas and Steps in Preparing a Budget; Capital Expenditure Budgets; Summary; Hospitality Manager Takeaways; Key Terms; Review Questions; Problems; Chapter 11. Corporate Annual Reports; The Purpose of Corporate Annual Reports; The Message to Shareholders

The Content of the Corporate Annual Report