The updated, classic text on managerial accounting for hospitality businesses

Every dollar counts in the hospitality industry, which means revenues must be maximized and costs minimized. Hospitality Management Accounting, Eighth Edition, presents the fundamental concepts and analytical techniques required to take control of a real-world accounting system, evaluate the effectiveness of current and past operations, and manage finances effectively toward increased profits.

Hospitality Management Accounting, Eighth Edition, continues to define managerial accounting with such features as:

• A consolidated, in-depth review of the fundamentals of accounting
• Insight into the analysis and interpretation of financial statements
• A "bottom-up" approach to pricing
• Statements of cash flows discussed alongside working capital
• A cost-volume-profit approach to decision making and cost management
• Detailed focus on the operating budget and cash budgeting

This user-friendly text offers valuable preparation for the increasingly complex and competitive hospitality industry with hands-on coverage of computer applications and ethics situations focused on honing decision-making skills. Packed with accurate, up-to-date case studies, exercises, and problems, this Eighth Edition offers alternative solutions to provide a variety of problem-solving approaches.

Hospitality Management Accounting, Eighth Edition, equips hospitality management students with the skills they need to take command of one of the most crucial aspects of managing in today’s hospitality industry.

This textbook reviews the basics of accounting and applies them specifically to the hospitality industry, addressing such issues as the analysis of financial statements, pricing, cash flows and working capital, the cost-volume-profit approach to decision making, and budgeting. An appendix highlights the role of computers in hospitality management. Jagels is affiliated with the University of South Carolina in Columbia; Coltman, with the British Columbia Institute of Technology.
Annotation ©2004 Book News, Inc., Portland, OR (booknews.com)

The success of every business in the hospitality industry depends on maximizing revenues and minimizing costs. This Ninth Editioncontinues its time-tested presentation of fundamental concepts and analytical techniques that are essential to taking control of real-world accounting systems, evaluating current and past operations, and effectively managing finances toward increased profits. It offers hands-on coverage of computer applications and practical decision-making skills to successfully prepare readers for the increasingly complex and competitive hospitality industry.

The success of every business in the hospitality industry depends on maximizing revenues and minimizing costs. Hospitality Management Accounting, Ninth Editioncontinues its time-tested presentation of fundamental concepts and analytical techniques that are essential to taking control of real-world accounting systems, evaluating current and past operations, and effectively managing finances toward increased profits.

Hospitality Management Accounting, Ninth Editioncontinues to define managerial accounting with new features, such as:

• Detailed and consolidated coverage of straight-line, units-of-production, sum-of-the-year's-digits, and double-declining-balance depreciation methods
• Updated material on inventory control methods, with emphasis on perpetual inventory
• A sequential presentation of statement of cash flows and working capital
• New end-of-chapter exercises and problems

Hospitality Management Accounting, Ninth Editionoffers hands-on coverage of computer applications and practical decision-making skills to successfully prepare readers for the increasingly complex and competitive hospitality industry.

MARTIN G. JAGELS is Professor Emeritus at the College of Hospitality, Retail, and Sport Management at the University of South Carolina in Columbia.

MICHAEL M. COLTMAN was chair of the Department of Hospitality and Tourism Administration at the British Columbia Institute of Technology until his retirement.