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Accounting and Financial Analysis in the Hospitality Industry

ISBN-10: 0750678968
ISBN-13: 9780750678964
Edition: 2005
List price: $33.95
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Description: Based on case studies, Jon Hales attempts to teach students in the hospitality industry how to understand fundamental accounting principles, develop financial analysis abilities and then be able to apply them in their chosen field.

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Book details

List price: $33.95
Copyright year: 2005
Publisher: Elsevier Science & Technology Books
Publication date: 8/1/2005
Binding: Paperback
Pages: 312
Size: 7.00" wide x 9.00" long x 0.50" tall
Weight: 1.540
Language: English

Based on case studies, Jon Hales attempts to teach students in the hospitality industry how to understand fundamental accounting principles, develop financial analysis abilities and then be able to apply them in their chosen field.

Preface
Foreword
Introduction to Numbers, Accounting, and Financial Analysis
Numbers: The Lifeblood of Business
Career Success Model
The Three Main Financial Statements
Revenues: The Beginning of Financial Performance
Profit: The Ultimate Measure of Financial Performance
Summary
Hospitality Manager Takeaways
Key Terms
Formulas
Review Questions
Foundations of Financial Analysis
Fundamental Methods of Financial Analysis
Comparing Numbers to Give Them Meaning
Measuring Change to Explain Performance
Using Percentages in Financial Analysis
Four Types of Percentages Used in Financial Analysis
Trends in Financial Analysis
Summary
Hospitality Manager Takeaways
Key Terms
Formulas
Review Questions
Problems
Accounting Department Organization and Operations
Organization Charts
Accounting Operations in Full-Service Hotels
Accounting Operations in Restaurants and Smaller Hotels
Summary
Hospitality Manager Takeaways
Key Terms
Review Questions
The Profit and Loss (P&L) Statement
Hotel Consolidated P&L Statements
Formats for a Consolidated P&L
Department P&L Statements
Summary
Hospitality Manager Takeaways
Key Terms
Review Questions
The Balance Sheet (A&L) and Statement of Cash Flow
The Balance Sheet or Asset and Liability (A&L) Statement
Working Relationships between the Balance Sheet and the P&L Statement
The Statement of Cash Flow
Summary
Hospitality Manager Takeaways
Key Terms
Review Questions
Hotel Management Reports
Internal Hotel Management Reports
Daily Reports
Weekly Internal Management Reports
Monthly Internal Management Reports
Summary
Hospitality Manager Takeaways
Key Terms
Review Questions
Revenue Management
REVPAR: Revenue per Available Room
Rate Structures and Market Segments
Revenue Management Systems
Selling Strategies
Summary
Hospitality Manager Takeaways
Key Terms
Review Questions
Comparison Reports and Financial Analysis
Profitability: The Best Measure of Financial Performance
Review of Chapter 2: Foundations of Financial Analysis
Variation Analysis
STAR Market Report
Summary
Hospitality Manager Takeaways
Key Terms
Review Questions
Forecasting: A Very Important Management Tool
Forecasting Fundamentals
Types and Uses of Forecasts
Revenue Forecasting
Wage Forecasting and Scheduling
Summary
Hospitality Manager Takeaways
Key Terms
Review Questions
Problems
Budgets
The Use of Budgets in Business Operations
Annual Operating Budgets
Formulas and Steps in Preparing a Budget
Capital Expenditure Budgets
Summary
Hospitality Manager Takeaways
Key Terms
Review Questions
Problems
Corporate Annual Reports
The Purpose of Corporate Annual Reports
The Message to Shareholders
The Content of the Corporate Annual Report
Financial Results for the Year
Summary
Hospitality Manager Takeaways
Key Terms
Review Questions
Personal Financial Literacy
Personal Financial Literacy
Managing Personal Finances
Evaluating Assets and Sources of Income
Summary
Hospitality Manager Takeaways
Key Terms
Review Questions
Glossary
Index

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