The objective of this textbook is to teach students to be conversational in speaking “numbers.” This means understanding fundamental accounting concepts, developing solid financial analysis abilities, and then applying them to understand and improve the operational performance of their hotel or restaurant. The book will accomplish this by studying the current practices of some of today’s leading hotel and restaurant companies. Chapters will be developed under the auspices of a select group of hospitality industry General Mangers, Directors of Finance, and Regional Accounting Managers to ensure that the information is current, accurate and useful. Understanding and applying the information will be the main focus of this book. This textbook should provide hospitality managers the knowledge and experience to be comfortable in using numbers to operate their departments. This includes developing the ability to perform all accounting and financial aspects of their position efficiently and correctly including revenue forecasting, wage scheduling, budgeting, P&L critiques, purchasing procedures and cost control methods. As a result, they will have more time to spend on the floor with their customers and employees. This knowledge will help them understand their operations and how to improve, change or expand them to increase revenues or profits.

Basic Management Accounting for the Hospitality Industry uses a step by step approach to enable students to independently master the field. This second edition contains many new themes and developments, including: the essence of the International Financial Reporting Standards (IFRS) integration of the changes caused by the evolution of the Uniform System of Accounts for the Lodging Industry (USALI) the extension of price elasticity of demand, and addition of income and cross elasticities the addition of break-even time (BET) as an additional method of analysing capital investments Up-to-date and comprehensive coverage, this textbook is essential reading for hospitality management students. Additional study and teaching materials can be found on www.hospitalitymanagement.noordhoff.nl

Accounting and Financial Management: developments in the international hospitality industry presents new and innovative research and developments in the field of accounting and financial management as it relates to the work of managing enterprises and organisations in the international hospitality industry. The content contains contributions from a rich source of international researchers, academics and practitioners including, university and college lecturers, professional accountants and consultants and senior managers involved in a wide range of teaching, scholarship, research, and consultancy in the hospitality industry worldwide. The material is drawn from their work and experience and relates directly to the management of hospitality undertakings. Therefore the up to date case studies and examples used are taken from a wide ranging of companies across the industry including large international chains such as Sheraton, Holiday Inn, and Intercontinental. Divided into three parts: Performance Management, Information Management and Asset Management the book tackles the following issues amongst others: * Performance management in the international hospitality industry * Benchmarking: measuring financial success * The profit planning framework * Making room rate pricing decisions * Hotel asset management UK and US perspectives * Lowering risk to enhance hospitality firm value Accounting and Financial Management: developments in the international hospitality industry presents current developments drawn from a combination of live fieldwork and practical experience and therefore will content will appeal to a wide-ranging readership including practising managers and financial controllers in hospitality organisations, professional accountants and consultants, postgraduate candidates studying for master's degrees in hospitality management, and final year undergraduate students of hospitality management who elect to take an accounting option.

Financial Management for Hospitality Decision Makers is written specifically for those 'decision makers' in the industry who need to be able to decipher accountant 'speak' and reports in order to use this information to its best advantage and achieve maximum profits. The area of accounting and finance is a vital but often inaccessible part of the hospitality business. However, having the knowledge and the ability to use it properly makes all the difference to the turnover and success of a business. Financial Management for Hospitality Decision Makers is written specifically for those industry executives who need to be able to decipher, appreciate and utilise valuable financial management tools and techniques in order to realise maximum profits. Highly practical in its scope and approach, this book: · Outlines the procedure and purpose behind various financial activities - including budgeting, year-end financial statement analysis, double-entry accounting, managing and analysing costs, working capital management, and investment decision making · Demonstrates how an appropriate analysis of financial reports can drive your business strategy forward from a well-informed base · Clearly highlights the key financial issues you need to consider in a host of decision making situations · Includes a range of problems to help readers appraise their understanding of concepts - with solutions provided for lecturers at http://textbooks.elsevier.com. At all times, the book rigorously applies itself to the specific needs of the hospitality decision-maker, contextualising and explaining financial decision making and control in this light. Combining a user-friendly structure with frequent international cases, worked examples and sample reports to illuminate the theory, Financial Management for Hospitality Decision Makers is ideal for all students of hospitality, as well as being a vital source of information for practitioners already in the industry.

Provides the theory, instruction, and practical skills needed to manage the functions of cost control, setting budgets and accurately pricing goods and services in the hospitality management and culinary business. --From publisher description.

The International Encyclopedia of Hospitality Management covers all of the relevant issues in the field of hospitality management from both a sectoral level: * Lodging * Restaurants * Clubs * Time-share * Conventions As well as a functional one: * Accounting & finance * Marketing * Human resources * Information technology * Facilities management Its unique user-friendly structure enables readers to find exactly the information they require at a glance; whether they require broad detail which takes a more cross-sectional view across each subject field, or more focussed information which looks closely at specific topics and issues within the hospitality industry today. Section Editors: Peter Harris - ACCOUNTING & FINANCE Oxford Brookes University, UK Zheng Gu - ACCOUNTING & FINANCE University of Nevada, Las Vegas, USA Randall Upchurch - CLUB MANAGEMENT & TIMESHARE MANAGEMENT University of Central Florida, USA Patti Shock - EVENT MANAGEMENT University of Nevada, Las Vegas, USA Deborah Breiter - EVENT MANAGEMENT University of Central Florida, USA David Stipanuk - FACILITIES MANAGEMENT Cornell University, USA Darren Lee-Ross - HUMAN RESOURCES MANAGEMENT James Cook University, Australia Gill Maxwell - HUMAN RESOURCES MANAGEMENT Caledonian Glasgow University, UK Dimitrios Buhalis - INFORMATION TECHNOLOGY University of Surrey, UK Allan Stutts - LODGING MANAGEMENT American Intercontinental University, USA Stowe Shoemaker - MARKETING University of Houston, USA Linda Shea - MARKETING University of Massachusetts, USA Dennis Reynolds - RESTAURANTS & FOODSERVICE MANAGEMENT Washington State University, USA Arie Reichel - STRATEGIC MANAGEMENT Ben-Gurion University, Israel

'Business Development in Licensed Retailing: a unit manager's guide' details the indispensable skills and techniques needed to manage units within licensed retail organisations in a flexible and entrepreneurial manner. This book: · Forms the basis of a complete course for a unit manager's development. · Provides an overview of the range of skills needed for effective unit management. · Supports the development of techniques with examples from existing best practice and case examples from companies such as JD Wetherspoon's, TGI Fridays and McDonald's amongst others. Business Development in Licensed Retailing considers the functional management techniques required at unit management level, covering recruitment, human resource management, operations, service quality and customer relations, financial measurement and analysis, promotions and strategic planning. The analysis systematically provides all the practical know-how you need to produce of a comprehensive business plan for your unit. Ending with a comprehensive case study that demonstrates all the aspects of business development working in a real-life scenario, the text is ideally suited for lecturers and management development personnel to use as a learning resource through which readers can apply the principles and techniques outlined.