Accounting and Financial Analysis in the Hospitality Industry [electronic resource].

ISBN:

9780080458113

Title:

Author:

Hales, Jonathan.

Personal Author:

Hales, Jonathan.

Publication Information:

Hoboken : Taylor & Francis, 2012.

Physical Description:

1 online resource (304 p.)

General Note:

Description based upon print version of record.

Contents:

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

Subject Term:

Hospitality industry--Accounting.

Hospitality industry - Accounting.

Format:

Electronic Resources

Electronic Access:

Click here to view book

Publication Date:

2012

Publication Information:

Hoboken : Taylor & Francis, 2012.

Available:*

Shelf Number	Material Type	Copy	Shelf Location	Status
657.837	1:E-BOOK	1	1:ON-DEMAND	Searching... Unknown

Bound With These Titles

On Order

Summary

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.