A comprehensive and wide-ranging introduction to operational hotel management, this textbook brings together business administration, management and entrepreneurship into a complete overview of the discipline. Essential reading for students of hospitality management, the book also benefits from online support materials including student tests, a glossary and PowerPoint slides.

A comprehensive and wide-ranging introduction to operational hotel management, this textbook brings together business administration, management and entrepreneurship into a complete overview of the discipline. Essential reading for students of hospitality management, the book also benefits from online support materials including student tests, a glossary and PowerPoint slides.

Basic Management Accounting for the Hospitality Industry uses a step by step approach to enable students to independently master the field.

This second edition contains many new themes and developments, including:

the essence of the International Financial Reporting Standards (IFRS)

integration of the changes caused by the evolution of the Uniform System of Accounts for the Lodging Industry (USALI)

the extension of price elasticity of demand, and addition of income and cross elasticities

the addition of break-even time (BET) as an additional method of analysing capital investments

Up-to-date and comprehensive coverage, this textbook is essential reading for hospitality management students. Additional study and teaching materials can be found on www.hospitalitymanagement.noordhoff.nl

Table of Contents

1. Introduction to management accounting

2. The balance sheet

3. The profit and loss account statement

4. Adjustments to the balance sheet and the profit and loss account

5. The cash flow statement (also called the statement of cash flow)

6. Analyzing financial statements

7. Ratio analysis and types of ratios

8. Management of working capital

9. Cost management

10. Pricing and Revenue Management

11. Cost-volume-profit analysis

12. Internal control Forecasting

14. Budgeting and variance analysis

15. Capital investment decisions