Profit planning [electronic resource] : for hospitality and tourism / Peter Harris.

ISBN:

9781908999627

Title:

Author:

Harris, Peter.

Personal Author:

Harris, Peter.

Edition:

3rd rev. and extended ed.

Publication Information:

Oxford : Goodfellow Publishers Ltd, 2013.

Physical Description:

1 online resource (282 p.)

General Note:

Description based upon print version of record.

Contents:

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

Subject Term:

Hospitality industry -- Finance.

Hotels -- Finance.

Tourism -- Finance.

Format:

Electronic Resources

Electronic Access:

Click here to view ebook

Publication Date:

2013

Publication Information:

Oxford : Goodfellow Publishers Ltd, 2013.

Available:*

Shelf Number	Material Type	Copy	Shelf Location	Status
647.94068 HAR	1:E-BOOK	1	1:ONLINE	Searching... Unknown

Bound With These Titles

On Order

Summary

Profit Planning is ideal for practicing managers, entrepreneurs, accountants and financial controllers engaged in the hospitality and tourism sectors and for students of hospitality and tourism management interested in applying theory to practice. In particular, the content provides a complete guide to key managerial accounting techniques at the property level - the "cutting-edge" of day-to-day business decisions. This extended edition includes:* New bullet point format, allowing the reader to 'dip into' specific methods and techniques; * New research & developments applicable to practitioners at the property (business unit) level;* New chapters, such as cost structure, incorporating the author's profit planning framework implemented in numerous hotel and tourism organisations;* A new chapter on comparing & benchmarking performance for monitoring results against competitive set; * A new chapter on customer profitability analysis for identifying customer profiles in terms of profit contributors and loss-makers;* Extensive revision of chapters, such as financial statements, flexible budgets and pricing;* Revised edition now includes a major new section Step-by-Step: Quantitative analysis of cost functions in hotels & restaurants. A concise guide to improving the accuracy of cost estimates for routine competitive bidding and transaction negotiation, where lost margins lie; enabled by software e.g. Excel. An essential tool for all those in industry.Written in a user-friendly style, with a minimum of theory and technical jargon, it assumes readers already have a basic knowledge of accounting and financial statements.