Synopses & Reviews
For non-accountant hospitality managers, accounting and financial management is often perceived as an inaccessible part of the business, yet understanding is crucial for success. Using an ‘easy to read’ style, this book provides a comprehensive overview of the most relevant accounting information for managers. It demonstrates how to organise and analyse accounting data to help make informed decisions with confidence.
With its highly practical approach, this book:
• Quickly develops the reader’s ability to adeptly use and interpret accounting information to further organisational decision making and control
• Demonstrates how an appropriate analysis of financial reports can drive your business strategy forward from a well-informed base
• Develops mastery of the key accounting concepts through financial decision making cases that take a hospitality manager’s perspective on an issue
• Sets financial problems in the context of a range of countries and currencies
• Includes two new chapters on internal control and performance management
• Offers further resources at Textbooks.Elsevier.com including a suite of worked contextualised cases in Tourism, Events and Sport Management
The all new companion website includes the suite of contextualised examples,
PowerPoint lectures aligned to each chapter, solutions to all end-of-chapter
problems, a student revision test bank and a password protected test bank
available to lecturers who adopt this book as required student reading. These
resources are SCORM compliant and compatible with institutions’ Learning
Management Systems.
Dr. Chris Guilding is professor of Hotel management at Griffith University. He is a qualified member of the Chartered Institute of Management Accountants and has held
full time lecturing positions in universities in Australia, Canada, England and New Zealand. His research interests concern accounting applications in the hospitality sector and he has more than 40 refereed publications in a range of top journals that span the accounting, hospitality and tourism management fields.
KEY FEATURES
* includes two new chapters on internal control and performance management, covering the increasingly important balanced scorecard
*develops mastery of the key accounting concepts through financial decision making cases that take a hospitality manager's perspective on an issue
*develops familiarity of financial problems in the context of a range of countries and currencies, including coverage of key accounting terms and financial statement types used in different countries
* makes key concepts accessible
Synopsis
Makes key concepts accessible
For non-accountant hospitality managers, accounting and financial management is often perceived as an inaccessible part of the business, yet it is vital for success. Accounting Essentials for Hospitality Managers is written specifically for those who need to be able to use valuable financial management tools and techniques to realise maximum profits.
Highly practical in 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
At all times, this accessible book looks at the specific needs of the hospitality manager, 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, this book is ideal for all students and practioners.
This edition of the book contains two new chapters: chapter 6 which is concerned with internal control and chapter 11 which is concerned with performance measurement. The number of problems appearing at the end of each chapter has also been expanded to a minimum of 10. For each chapter, solutions for the first threeproblems are provided at the back of the book. This is a self-help feature designed to further facilitate learning and enable students to appraise their understanding of concepts covered by the book.
There is a tutor resource material available. Lecturers can request access to download this material by going to http: //textbooks.elsevier.com to request access.
KEY FEATURES
* includes two new chapters on internal control and performance management, covering the increasingly important balanced scorecard
*develops mastery of the key accounting concepts through financial decision making cases that take a hospitality manager's perspective on an issue
*develops familiarity of financial problems in the context of a range of countries and currencies, including coverage of key accounting terms and financial statement types used in different countries
* makes key concepts accessible
About the Author
Chris Guilding was Associate Professor in the school of Accounting Finance and Economics and since 2004 has been Professor of Hotel Management in the department of Tourism, Leisure, Hotel and Sport Management. His teaching specialism is in management accounting and he has taught on the MBA, Masters in Hospitality Management, Professional Golfers Association, Australian Institute of Company Directors Course and Undergraduate programmes. He is also Inaugural Director of the Services Industry research Centre (established 2003). He is co-editor for the journal Accounting, Accountability and Performance since 1998. In addition to the first edition of the proposed title, which was called Financial Management for Hospitality Decision Makers (2002), Chris Guilding has written with P. Auyeung and D. Delaney, The Key Elements of Introductory Accounting, 3rd edition (2006), John Wiley & Sons Australia Ltd and contributed to our International Encyclopedia of Hospitality Management (2005).
Professor, Dept of Tourism, Leisure, Hotel and Sport Management, Griffith University, Queensland, Australia
Table of Contents
Introduction; Analysing Transactions and Preparing Year End Financial Statements; Double Entry Accounting; Adjusting and Closing Entries; Internal Control; Cost Management Issues; Cost-Volume-Profit Analysis; Budgeting and Responsibility Accounting; Flexible Budgeting and Variance Analysis; Performance Measurement; Cost Information and Pricing; Working Capital Management; Investment Decision Making