Accounting and Financial Analysis in the Hospitality Industry

by Hales, Johnathan; Van Hoof, Hubert B.

• ISBN13: 9780132458665
• ISBN10: 0132458667
• Edition: 1st
• Format: Paperback
• Copyright: 2010-02-16
• Publisher: Pearson

Summary

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 theUniform 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. For courses in Hospitality Managerial Accounting.

Table of Contents

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