Description
Book SynopsisManagement Accounting for the Hospitality, Tourism and Leisure Industries - A Strategic Approach 3rd edition is an up-to-date and relevant reference guide to accounting for decision making in the hospitality, tourism and leisure industries. Its’ user-friendly and easy to follow style is based on the author’s extensive first-hand experience of working with and delivering training and professional development in the sector. This third edition of this long-standing and effective text is fully revised and updated to include: • Pricing strategies to include examples of Revenue Management tactics; • Ratios such as TREVPAR and GOPPAR; • The growth of management contracts, franchising and leasing strategies for growth; • Increasing variety of funding options including crowd funding; • More detailed examples based on the author’s personal contemporary experience in training hotel financial controllers; • Further industry specific content to reflect current trends and practice. Key features include: • Up-to-date and relevant content designed to suit the needs of the current Hospitality Professional; • The latest recommendations of the Uniform System of Accounts for the Lodging Industry; • Current trends and practice; • Numerous case examples and scenarios to use in class; • Online resources to support the text. See http://www.goodfellowpublishers.com/manacc3 for details. This book is an essential guide for practitioners and students who are required to study management accounting in the context of the hospitality industry. For practitioners, the book is intended to help those who need an improved grasp of accounting information to assist them in their day-to-day work. For students, the book is aimed at those who are studying accounting as part of their degree or professional studies course.
Table of ContentsPART I: STRATEGIC PLANNING. 1. Introducing strategic management. 2. Introducing strategic financial management. 3. Understanding financial statements. PART II: EXTERNAL ANALYSIS. 4. Managing costs. 5. Pricing strategies. PART III: INTERNAL ANALYSIS. 6. Making budgeting work. 7. Managing working capital. 8. Performance measurement. PART IV: STRATEGIC CHOICE. 9. Sourcing expansion. 10. Capital investment appraisal. 11. Practical aspects of capital investment appraisal. 12. The cost of funds. PART V: STRATEGIC IMPLEMENTATION AND EVALUATION. 13. Valuing a business. 14. Globalisation and internationalisation issues. 15. The way forward.
