"Accounting Essentials for Hospitality Managers" is written specifically for those who need to be able to use valuable financial management tools and techniques to realize maximum profits. Highly practical in approach, this book: outlines the procedure and purpose behind various financial activities - including budgeting, year-end financial statement analysis, double-entry accounting, managing and analyzing costs, working capital management, and investment decision making; demonstrates how an appropriate analysis of financial reports can drive your business strategy forward from a well-informed base; clearly highlights the key financial issues you need to consider in a host of decision making situations; and, includes a range of problems to help readers appraise their understanding of concepts. At all times, this accessible book looks at the specific needs of the hospitality manager, contextualizing and explaining financial decision making and control in this light. Combining a user-friendly structure with frequent international cases, worked examples and sample reports to illuminate the theory, this book is ideal for all students and practioners. This edition of the book contains two new chapters: chapter 6 which is concerned with internal control and chapter 11 which is concerned with performance measurement. The number of problems appearing at the end of each chapter has also been expanded to a minimum of 10. For each chapter, solutions for the first three problems are provided at the back of the book. This is a self-help feature designed to further facilitate learning and enable students to appraise their understanding of concepts covered by the book.
There is a tutor resource material available. This book includes two new chapters on internal control and performance management, covering the increasingly important balanced scorecard. It lets you develop mastery of the key accounting concepts through financial decision making cases that take a hospitality manager's perspective on an issue. It lets you develop familiarity of financial problems in the context of a range of countries and currencies, including coverage of key accounting terms and financial statement types used in different countries. It makes key concepts accessible.
Chapter 1 Introduction: Hospitality Decision Makers' Use of Accounting
Chapter 2 Analysing Transactions and Preparing Year-End Financial Statements
Chapter 3 Double Entry Accounting
Chapter 4 Adjusting and Closing Entries
Chapter 5 Financial Statement Analysis
Chapter 6 Internal Control
Chapter 7 Cost Management Issues
Chapter 8 Cost-Volume-Profit Analysis
Chapter 9 Budgeting and Responsibility Accounting
Chapter 10 Flexible Budgeting and Variance Analysis
Chapter 11 Performance Measurement
Chapter 12 Cost Information and Pricing
Chapter 13 Working Capital Management
Chapter 14 Investment Decision-Making