Hospitality Management Accounting

Hospitality Management Accounting

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CRUCIAL ACCOUNTING SKILLS FOR THE HOSPITALITY PROFESSIONAL In the fast-growing and increasingly competitive hospitality industry, every business is under extreme pressure to maximize revenue and minimize costs simply to maintain existing profit levels. Hospitality Management Accounting, Seventh Edition gives students a firm grounding in the fundamental concepts and analytical techniques they will need as professionals to take direct control of an accounting system and evaluate the effectiveness of current and past operations. Filled with case studies, expanded exercise and problem sections, and alternative solution sets that provide multiple problem-solving approaches, this updated new edition is the only text in the field that covers credit card receivables. It features an extensive review of accounting systems and a special section on the use of computers in the hospitality industry. Important topics covered in this text include: * Understanding, analyzing, and interpreting financial statements * Ratio analysis and internal control * The qbottom upq approach to pricing * Cost management and the cost volume profit approach to decisions * Operations budgeting and cash budgeting * Statement of cash flows and working capital Hospitality Management Accounting, Seventh Edition equips hospitality management and culinary students with the skills they need to take command of one of the most crucial aspects of the management of any hospitality business.The best procedure for taking inventory is to make two accounting office employees responsible. ... count; the other compares this with the perpetual inventory card figure and then records the actual count on an inventory sheet. ... For each cash handling position (restaurants and/or bar cashiers, front office cashiers, generalanbsp;...

Title:Hospitality Management Accounting
Author:Michael M. Coltman, Martin G. Jagels
Publisher:John Wiley & Sons Incorporated - 2001


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