For courses in Hospitality Managerial Accounting.
This book explains how to use numbers and fundamental accounting to operate a successful hospitality department or business. Focusing on the basics, sections progress from accounting and financial analysis to financial statements and management reports to budgeting and forecasting. Throughout the book current hospitality examples, photographs and illustrations are used. This edition includes the latest from the Uniform System of Accounts for the Lodging Industry, Tenth Revised Edition, expanded material on Department Profit and Loss Statements, coverage of the 2009 recession and new practice exercises throughout.
PART I: CREATING A FOUNDATION
1. Introduction to Numbers, Accounting, and Financial Analysis
2. Foundations of Financial Analysis
3. Accounting Department Organization and Operations
PART II: FINANCIAL STATEMENTS AND MANAGEMENT REPORTS
4. The Profit and Loss Statement ( P & L)
5. The Balance Sheet ( A&L) and Statement of Cash Flow
6. Hotel Management Reports
7. Revenue Management
8. Comparison Reports and Financial Analysis
PART III: BUDGETS AND FORECASTS
9. Budgets
10. Forecasting–A Very Important Management Tool
PART IV: OTHER FINANCIAL INFORMATION
11. Corporate Annual Reports
12. Personal Financial Literacy
GLOSSARY
INDEX
New! Coverage of the Uniform System of Accounts for the Lodging Industry, Tenth Revised Edition–published in 2006 by the American Hotel and Lodging Educational Institute.
New! Expanded material on Department Profit and Loss Statements.
New! Additional examples on RevPAR, Retention/Flow Through, Revenue Management and Productivities and Profitability.
New! Coverage of the 2009 recession and its impact on accounting and finance practices.
New! Practice exercises have been added to each chapter.
New! Expanded glossary now includes chapter references.
For courses in Hospitality Managerial Accounting.
This book explains how to use numbers and fundamental accounting to operate a successful hospitality department or business. Focusing on the basics, sections progress from accounting and financial analysis to financial statements and management reports to budgeting and forecasting. Throughout the book current hospitality examples, photographs and illustrations are used. This edition includes the latest from the Uniform System of Accounts for the Lodging Industry, Tenth Revised Edition, expanded material on Department Profit and Loss Statements, coverage of the 2009 recession and new practice exercises throughout.
Hallmark Features
Accounting fundamentals with a hospitality management focus.
An emphasis on learning core job responsibilities such as how to:
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Analyze the P&L Statement
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Prepare weekly forecasts
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Develop budgets
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Use actual management and financial reports
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Understand the language of accounting and finance
Use of hospitality examples, photographs, and reports–from actual hotels, restaurants and golf clubs.