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Accounting and Financial Analysis in the Hospitality Industry

Accounting and Financial Analysis in the Hospitality Industry
Author: Jonathan Hales
Publisher: Routledge
Total Pages: 305
Release: 2006-08-11
Genre: Business & Economics
ISBN: 1136431608

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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.


Accounting and Financial Analysis in the Hospitality Industry. Butterworth-Heinemann Hospitality Management Series

Accounting and Financial Analysis in the Hospitality Industry. Butterworth-Heinemann Hospitality Management Series
Author:
Publisher:
Total Pages: 309
Release: 2005
Genre:
ISBN: 9781280631313

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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 Managers, 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.


Hospitality Management Accounting

Hospitality Management Accounting
Author: Martin G. Jagels
Publisher: John Wiley and Sons
Total Pages: 610
Release: 2006-03-03
Genre: Business & Economics
ISBN: 0471687898

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The success of every business in the hospitality industry depends on maximizing revenues and minimizing costs. Hospitality Man-agement Accounting, Ninth Edition continues its time-tested presentation of fundamental concepts and analytical techniques that are essential to taking control of real-world accounting systems, evaluating current and past operations, and effectively managing finances toward increased profits. This accessible Ninth Edition offers hands-on coverage of computer applications and practical decision-making skills to successfully prepare readers for the increasingly complex and competitive hospitality industry.


Revenue Management, Cost Control, and Financial Analysis in the Hospitality Industry

Revenue Management, Cost Control, and Financial Analysis in the Hospitality Industry
Author: Godwin-Charles Ogbeide
Publisher:
Total Pages: 174
Release: 2013-12-23
Genre: Business & Economics
ISBN: 9781516551842

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Revenue Management, Cost Control and Financial Analysis in the Hospitality Industry uses a step-by-step spreadsheet approach to accounting and financial analysis. It teaches students budgeting and other financial competencies needed in the hospitality industry and was designed for students and managers to use with little or no facilitation by an instructor. The book begins with an introduction to financial analysis and spreadsheet modeling. Subsequent chapters focus on specific skills such as forecasting, revenue management, and cost control, which support the maximization of profits. Readers will create annual operating budgets, analyze financial statements, and understand the impact of each variable on the organization's performance. Filled with examples and scenarios that are real-world applicable, the material focuses on the facts and solutions needed to solve accounting and financial problems. Revenue Management, Cost Control and Financial Analysis in the Hospitality Industry can be used in hospitality accounting and finance courses. It is also a helpful supplement for courses in recreation and sports management, and a useful resource for current and future hospitality managers. Godwin-Charles Ogbeide is a faculty member in the Department of Food, Human Nutrition, and Hospitality Management at the University of Arkansas-Fayetteville. He has developed and taught many courses in the field of hospitality management including Food, Beverage, and Labor Cost Management; Front Office Revenue Management; Meetings, Events and Conventions Management; and Hospitality Operations and Financial Analysis. Dr. Ogbeide received his M.S. and Ph.D. degrees with emphasis in Hospitality Management and Leadership Development from the University of Missouri-Columbia. He also has an M.B.A. and more than 25 years of experience in the hospitality industry. Dr. Ogbeide is a winner of many awards including several "innovation awards."


Hospitality Financial Accounting

Hospitality Financial Accounting
Author: Jerry J. Weygandt
Publisher: John Wiley and Sons
Total Pages: 544
Release: 2008-03-03
Genre: Business & Economics
ISBN: 0470083603

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Updated with the latest developments in the accounting and hospitality fields, Hospitality Financial Accounting, Second Edition covers the basics of financial accounting and then walks you through analyzing financial statements and dealing with the daily issues you’ll face on the job. In this Second Edition, the authors have provided engaging new coverage and features that includes new case studies, an expanded section on ethics, new “Accounting in Action” vignettes, applied exercises, and new coverage of casinos, spas, and purveyors.


Hospitality Finance and Accounting

Hospitality Finance and Accounting
Author: Rob van Ginneken
Publisher: Routledge
Total Pages: 138
Release: 2019-07-05
Genre: Business & Economics
ISBN: 0429015127

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Hospitality Finance and Accounting provides a uniquely concise, accessible and comprehensive introduction to hospitality, finance and accounting from a managerial perspective. By avoiding unnecessary jargon and focusing on the essentials, this book offers a crucial breakdown of this often overly-complex subject area. The concise chapters cover the essential concepts, ideas and formulas to be mastered within the hospitality industry including income statements, balance sheets, pricing and budgeting. Each chapter is split into two sections: theory and practice, giving students practical insight into the everyday realities of the hospitality industry through case studies which show how theories are applied to a range of relevant scenarios. Emphasis is placed particularly on the practices of revenue and budget management within the food and beverage industry. This will be an essential introductory yet practical resource for all Hospitality students and future managers within the industry.


Financial Management for Hospitality Decision Makers

Financial Management for Hospitality Decision Makers
Author: Chris Guilding
Publisher: Routledge
Total Pages: 251
Release: 2007-08-22
Genre: Business & Economics
ISBN: 1136403191

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Financial Management for Hospitality Decision Makers is written specifically for those 'decision makers' in the industry who need to be able to decipher accountant 'speak' and reports in order to use this information to its best advantage and achieve maximum profits. The area of accounting and finance is a vital but often inaccessible part of the hospitality business. However, having the knowledge and the ability to use it properly makes all the difference to the turnover and success of a business. Financial Management for Hospitality Decision Makers is written specifically for those industry executives who need to be able to decipher, appreciate and utilise valuable financial management tools and techniques in order to realise maximum profits. Highly practical in its scope and approach, this book: · Outlines the procedure and purpose behind various financial activities - including budgeting, year-end financial statement analysis, double-entry accounting, managing and analysing 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 · Includes a range of problems to help readers appraise their understanding of concepts - with solutions provided for lecturers at http://textbooks.elsevier.com. At all times, the book rigorously applies itself to the specific needs of the hospitality decision-maker, contextualising 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, Financial Management for Hospitality Decision Makers is ideal for all students of hospitality, as well as being a vital source of information for practitioners already in the industry.


Accounting and Finance for the International Hospitality Industry

Accounting and Finance for the International Hospitality Industry
Author: Peter Harris
Publisher: Routledge
Total Pages: 330
Release: 2010-02-17
Genre: Business & Economics
ISBN: 1136431683

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Top experts specializing in hospitality management have contributed articles to this new collection which explains recent developments in accounting and finance. The material is drawn from a combination of fieldwork and practical experience. The managerial emphasis means that the content is fully relevant internationally and not constrained by the legal framework of different countries. Accounting and Finance provides an overview of: *analysis and evaluation of performance *planning methods and techniques *financial information and control *financial management. It also shows how operational analysis can be used as a management tool to improve performance. Techniques for predicting the financial success or failure of hotels are suggested. Research into hotel companies in the US and Europe demonstrates key performance indicators used by hotel managers and financial executives. Other contributors explore the interface between accounting and marketing and human resource management and there is thorough coverage of financial strategy formulation. Readers will also find helpful the section on statistics in the analysis and prediction of cost behaviour in hotels. Contributors: Raymond Schmidgall (Michigan State University, USA); Debra J. Adams (Bournemouth University, UK); Professor Elisa S. Moncarz (Florida International University, USA); Richard N. Kron (Kron Hospitality Consulting, USA); Angela Maher (Oxford Brookes University, UK); Peter J. Harris (Oxford Brookes University, UK); Geoff S. Parkinson (BDO Stoy Hayward Chartered Accountants, UK); Paul Fitz-John (Bournemouth University, UK); Paul Collier (University of Exeter, UK); Professor Alan Gregory (University of Glasgow, UK); Tracy A. Jones (Cheltenham and Gloucester College of Higher Education, UK); Jacqueline Brander Brown (The Manchester Metropolitan University, UK); Nina J. Downie (Oxford Brookes University, UK): Catherine L. Burgess (Oxford Brookes University, UK); Ian C. Graham (Holiday Inn Worldwide, Belgium); Howard M. Field (International Hotel and Leisure Associates, UK); Professor Paul Beals (Canisius College, USA); Frank J. Coston (Pannell Kerr Forster Associates, UK).