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Lea R. Dopson, EdD, is Chair of Hospitality Management at the University of North Texas inDenton, Texas.
David K. Hayes, PhD, is an author and consultant in Okemos, Michigan. He previously held faculty positions at Purdue University, Texas Tech University, and the University of Houston. Most recently, he was the Managing Owner of the Clarion Hotel and Conference Center in Lansing, Michigan.
Preface | p. vii |
Accounting Fundamentals | p. 1 |
Hospitality Industry Accounting | p. 3 |
Unique Aspects of the Hospitality Industry | p. 4 |
The Purpose of Accounting in the Hospitality Industry | p. 6 |
Branches of Accounting | p. 7 |
Why Hospitality Managers Use Managerial Accounting | p. 15 |
The Uniform System of Accounts | p. 16 |
Ethics and Hospitality Accounting | p. 18 |
The Blue Lagoon Water Park Resort: A Case Study | p. 22 |
Can You Do the Math? | p. 24 |
Apply What You Have Learned | p. 25 |
Key Terms and Concepts | p. 26 |
Test Your Skills | p. 26 |
Accounting Fundamentals Review | p. 29 |
Bookkeeping and Accounting | p. 30 |
The Accounting Formula | p. 31 |
Recording Changes to The Accounting Formula | p. 32 |
Generally Accepted Accounting Principles | p. 43 |
The Hospitality Business Cycle | p. 54 |
Apply What You Have Learned | p. 55 |
Key Terms and Concepts | p. 56 |
Test Your Skills | p. 56 |
Financial Statements | p. 61 |
The Income Statement | p. 63 |
The Purpose of the Income Statement | p. 64 |
Income Statement Preparation | p. 70 |
Income Statement Analysis | p. 86 |
Apply What You Have Learned | p. 105 |
Key Terms and Concepts | p. 105 |
Test Your Skills | p. 106 |
The Balance Sheet | p. 112 |
The Purpose of the Balance Sheet | p. 113 |
Balance Sheet Formats | p. 119 |
Balance Sheet Content | p. 120 |
Components of the Balance Sheet | p. 123 |
Balance Sheet Analysis | p. 129 |
Apply What You Have Learned | p. 136 |
Key Terms and Concepts | p. 136 |
Test Your Skills | p. 137 |
The Statement of Cash Flows | p. 143 |
Understanding Cash Flows | p. 144 |
The Purpose of the Statement of Cash Flows | p. 145 |
Sources and Uses of Funds | p. 147 |
Creating the Statement of Cash Flows | p. 155 |
Statement of Cash Flows Analysis | p. 167 |
Apply What You Have Learned | p. 171 |
Key Terms and Concepts | p. 171 |
Test Your Skills | p. 172 |
Ratio Analysis | p. 180 |
Purpose and Value of Ratios | p. 181 |
Types of Ratios | p. 185 |
Comparative Analysis of Ratios | p. 225 |
Ratio Analysis Limitations | p. 226 |
Apply What You Have Learned | p. 228 |
Key Terms and Concepts | p. 229 |
Test Your Skills | p. 230 |
Management of Revenue and Expense | p. 237 |
Food and Beverage Pricing | p. 239 |
Factors Affecting Menu Pricing | p. 240 |
Assigning Menu Prices | p. 242 |
Menu Price Analysis | p. 249 |
Apply What You Have Learned | p. 268 |
Key Terms and Concepts | p. 268 |
Test Your Skills | p. 269 |
Revenue Management for Hotels | p. 274 |
Establishing Room Rates | p. 275 |
Revenue Management | p. 287 |
Non-Room Revenue | p. 300 |
Apply What You Have Learned | p. 305 |
Key Terms and Concepts | p. 306 |
Test Your Skills | p. 307 |
Managerial Accounting for Costs | p. 313 |
The Concept of Cost | p. 314 |
Types of Costs | p. 315 |
Cost/Volume/Profit Analysis | p. 335 |
Apply What You Have Learned | p. 342 |
Key Terms and Concepts | p. 343 |
Test Your Skills | p. 343 |
Accounting Information for Planning | p. 351 |
Forecasting in the Hospitality Industry | p. 353 |
The Importance of Accurate Forecasts | p. 354 |
Forecast Methodology | p. 357 |
Utilizing Trend Lines in Forecasting | p. 374 |
Apply What You Have Learned | p. 376 |
Key Terms and Concepts | p. 376 |
Test Your Skills | p. 377 |
Budgeting and Internal Controls | p. 380 |
The Importance of Budgets | p. 381 |
Types of Budgets | p. 383 |
Operations Budget Essentials | p. 387 |
Developing an Operations Budget | p. 388 |
Monitoring an Operations Budget | p. 397 |
Cash Budgeting | p. 406 |
Managing Budgets through Internal Controls | p. 413 |
Apply What You Have Learned | p. 418 |
Key Terms and Concepts | p. 419 |
Test Your Skills | p. 420 |
Capital Investment, Leasing, and Taxation | p. 428 |
Capital Budgeting | p. 430 |
Capital Investment | p. 433 |
Financing Alternatives | p. 447 |
Taxation | p. 454 |
Apply What You Have Learned | p. 461 |
Key Terms and Concepts | p. 461 |
Test Your Skills | p. 462 |
Glossary | p. 469 |
About the Authors | p. 489 |
Index | p. 491 |
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