CONTENTS; Preface to the third edition; Preface to the third 'extended' edition; 1 Revisiting hospitality and tourism operations: fresh insights; Understand your business and you understand accounting; Hospitality operations; Tourism attraction operations; Features of hospitality and tourism business operations; Connecting accounting into business decisions; 2 Review of hospitality and tourism financial statements; Profit and loss statements; Service industry profit and loss statements; Hotel profit and loss statements; Hotel profit and loss statement (extended)

Restaurant profit and loss statementsVisitor attraction profit and loss statements; Balance sheets; Cash flow statements; 3 Understanding results using ratios; Understanding and using ratios; Ratio analysis: a hotel example; Liquidity ratios; Debt management ratios; Asset management ratios; Profitability ratios; Operating ratios; Interpreting results; Relevance of ratios; 4 Comparing and benchmarking performance; Bases for comparing operating results; Comparing past (or budgeted) results; Comparative common-size analysis of results (percentage of revenue basis)

Comparing intra-company resultsInter-firm comparison (benchmark reports); Averages used in industry surveys; 5 Practical cost behaviour for decisions: dropping a stone into water; Developing profitable business; Creating a profit planning framework; 'Dropping a stone into water'; Practical analysis of cost behaviour; Classifying revenue and expenses; Marginal profit and loss statement; 6 Break-even, profit and loss scenarios; Using cost behaviour for CVP analysis; CVP basic calculations: restaurant; CVP (break-even) graph: restaurant; CVP analysis for decisions: café and bakery

CVP analysis: hotelsHotel quick & dirty calculations; CVP analysis for transactions: tourist attraction; Engaging with practical CVP techniques; 7 Cost structure; Using CVP analysis to understand our business; Cost structure; Cost structure and business orientation; Industry cost structures; Hotel property cost structures; Hotel department cost structures; Hotel property cost structure: limited service; Cost structure and business decision making; Connecting cost structure with decision making; 8 Flexible budgets for planning and control; Using CVP analysis for routine planning and control

Budgets for planningPreparing a flexible budget; Budgets for control; Budgets for control (business mix); Applying flexible budget techniques; 9 Profit multiplier profile; Using CVP analysis to improve profit; What influences (multiplies) profit; Key factors affecting profit; Profit multiplier profile; Profit sensitivity analysis: visitor attraction; Profit sensitivity analysis results; Market and product orientated businesses; Framework for profit improvement; 10 Pricing in hospitality and tourism; Cost-plus pricing; Full cost-plus pricing: hotel average room rate

Direct cost-plus pricing: visitor attraction event