Managerial accounting for the hospitality industry

Preface

Part I. Accounting Fundamentals

Chapter 1. Hospitality Industry Accounting

Unique Aspects of the Hospitality Industry

The Purpose of Accounting in the Hospitality Industry

Branches of Accounting

Why Hospitality Managers Use Managerial Accounting

The Uniform System of Accounts

Ethics and Hospitality Accounting

The Blue Lagoon Water Park Resort: A Case Study

Can You Do the Math?

Apply What You Have Learned

Key Terms and Concepts

Test Your Skills

Chapter 2. Accounting Fundamentals Review

Bookkeeping and Accounting

The Accounting Formula

Recording Changes to The Accounting Formula

Generally Accepted Accounting Principles

The Hospitality Business Cycle

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Key Terms and Concepts

Test Your Skills

Part II. Financial Statements

Chapter 3. The Income Statement

The Purpose of the Income Statement

Income Statement Preparation

Income Statement Analysis

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Key Terms and Concepts

Test Your Skills

Chapter 4. The Balance Sheet

The Purpose of the Balance Sheet

Balance Sheet Formats

Balance Sheet Content

Components of the Balance Sheet

Balance Sheet Analysis

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Key Terms and Concepts

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Chapter 5. The Statement of Cash Flows

Understanding Cash Flows

The Purpose of the Statement of Cash Flows

Sources and Uses of Funds

Creating the Statement of Cash Flows

Statement of Cash Flows Analysis

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Key Terms and Concepts

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Chapter 6. Ratio Analysis

Purpose and Value of Ratios

Types of Ratios

Comparative Analysis of Ratios

Ratio Analysis Limitations

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Key Terms and Concepts

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Part III. Management of Revenue and Expense

Chapter 7. Food and Beverage Pricing

Factors Affecting Menu Pricing

Assigning Menu Prices

Menu Price Analysis

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Key Terms and Concepts

Test Your Skills

Chapter 8. Revenue Management for Hotels

Establishing Room Rates

Revenue Management

Non-Room Revenue

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Key Terms and Concepts

Test Your Skills

Chapter 9. Managerial Accounting for Costs

The Concept of Cost

Types of Costs

Cost/Volume/Profit Analysis

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Key Terms and Concepts

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Part IV. Accounting Information for Planning

Chapter 10. Forecasting in the Hospitality Industry

The Importance of Accurate Forecasts

Forecast Methodology

Utilizing Trend Lines in Forecasting

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Key Terms and Concepts

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Chapter 11. Budgeting and Internal Controls

The Importance of Budgets

Types of Budgets

Operations Budget Essentials

Developing an Operations Budget

Monitoring an Operations Budget

Cash Budgeting

Managing Budgets through Internal Controls

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Key Terms and Concepts

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Chapter 12. Capital Investment, Leasing, and Taxation

Capital Budgeting

Capital Investment

Financing Alternatives

Taxation

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Key Terms and Concepts

Test Your Skills

Glossary

About the Authors

Index