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.
* Introduces the fundamentals of hospitality accounting from an applied perspective with real industry examples
* Developed under supervision of industry experts
* Incorporates career success model to place subject in a larger context for students
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A concise introduction to the accounting and finance tools hospitality managers needFrom the Back Cover:
Business/ Hospitality, Leisure and Tourism
Accounting and Financial Analysis in the Hospitality Industry
Jonathan A. Hales
"Accounting and Financial Analysis in the Hospitality Industry makes accounting and finance easy to learn! Once a hospitality manager reads this book, they will immediately become a better manager. I am going to use this book to train new managers in my hotel."
- Tom Forburger, Senior Director of Finance, JW Marriott Desert Ridge Resort & Spa
"Accounting and Financial Analysis in the Hospitality Industry teaches the basics of hospitality accounting that every hotel manager needs to know in order to do their job when they start working in the hotel industry. In addition to being a solid starting point to build from, it is also a good resource for future use. By reading Accounting and Financial Analysis in the Hospitality Industry, students are ensured to have the basic tools which they will need to become successful managers."
- Mark Koehler, Area Director of Finance, Four Seasons Hotels and Resorts
Accounting and Financial Analysis in the Hospitality Industry offers a clear introduction to fundamental accounting concepts and provides the tools to produce solid financial analysis and optimal operational performance in hotels and restaurants. The text examines the current practices of some of today's leading hotel and restaurant companies and introduces the fundamentals of hospitality accounting from a practical, applied perspective with real industry examples.
In addition, Accounting and Financial Analysis in the Hospitality Industry provides hospitality managers the knowledge and experience to be comfortable working with the numbers to manage their departments effectively. This insight will equip managers with the skills needed to perform efficiently and correctly in all their accounting and financial roles including revenue forecasting, wage scheduling, budgeting, P&L critiques, purchasing procedures and cost control methods.
Developed under the supervision of industry experts, Accounting and Financial Analysis in the Hospitality Industry concentrates on the accounting and financial concepts to operate a business with increased productivity and profitability. Student reaction to this approach is overwhelming, particularly the way Dr. Hales focuses in on need-to-know information to create a foundation for career growth in hospitality management.
Jon Hales is Assistant Professor in the School of Hotel and Restaurant Management at Northern Arizona University teaching Hospitality Accounting, Hospitality Corporate Finance, Resort Management and Senior Seminar.
This textbook series provides brief introductions to core subjects in hospitality. The content of each book matches the requirements of a semester-long course and is designed without excessive length or meaningless illustration, rather with an applied perspective, consistent learning features and instructor's materials.
Hubert B. Van Hoof is Executive Editor for the Butterworth-Heinemann Hospitality Management Series and Director of the School of Hospitality Management at The Pennsylvania State University.
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Book Description Butterworth-Heinemann, 2005. Paperback. Book Condition: New. Never used!. Bookseller Inventory # P110750678968