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