Managerial Accounting for the Hospitality Industry
Though not all hospitality students want to be accountants, managerial accounting is a crucial skill for all hospitality students. Written for aspiring hospitality managers rather than accountants, this resource focuses on how accounting principles apply directly to hospitality management. With a reader-friendly style suitable for those with no prior accounting background, this book makes accounting fun with practical examples scattered throughout each chapter that clearly illustrate...
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A Clear, User-friendly Introduction to a Crucial Business Skill Accounting is frequently called the language of business. But accounting is too serious a matter to be left only to accountants. If you care about effective hospitality management, accounting should not be a foreign language to you. This book provides all the information and tools you need to become fluent in the essential language of managerial accounting. Managerial Accounting for the Hospitality Industry gives aspiring hospitality managers the knowledge to analyze and interpret the varied financial information they will use in the hospitality industry. Using a reader-friendly and encouraging style, the authors provide managers with all the accounting tools, theory, and applications they need to make good business decisions based upon sound financial information. Comprehensive and accessible, Managerial Accounting for the Hospitality Industry includes key features such as: Numerous practical examples throughout each chapter that clearly illustrate hospitality accounting concepts and theories Consistent focus on how accounting principles apply directly to hospitality management decision making A running case study utilized throughout the book provides opportunities for readers to apply accounting principles to real-world hospitality management decisions Reader-friendly style that makes learning accounting fun Extensive practice problems and assessment tools Bonus CD-ROM with exercises that utilize manager-developed spreadsheets as aids in decision making and problem solving Written by an accomplished author team, Managerial Accounting for the Hospitality Industry provides a unique approach rooted in current industry practices and is well-suited for a wide range of hospitality students and professionals.
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Ch. 1 Hospitality industry accounting 3Ch. 2 Accounting fundamentals review 29Ch. 3 The income statement 63Ch. 4 The balance sheet 112Ch. 5 The statement of cash flows 143Ch. 6 Ratio analysis 180Ch. 7 Food and beverage pricing 239Ch. 8 Revenue management for hotels 274Ch. 9 Managerial accounting for costs 313Ch. 10 Forecasting in the hospitality industry 353Ch. 11 Budgeting and internal controls 380Ch. 12 Capital investment, leasing, and taxation 428Glossary 469About the authors 489Index 491
