Essential Financial Techniques for Hospitality Managers
Essential Financial Techniques for Hospitality Managers
Editor/Author
Burgess, Cathy
Publication Year: 2014
Publisher: Goodfellow Publishers
Single-User Purchase Price:
$48.00

Unlimited-User Purchase Price:
$72.00
ISBN: 978-1-908999-97-9
Category: Business, Finance & Economics - Tourism & Hospitality
Image Count:
38
Book Status: Available
Table of Contents
The second edition of Essential Financial Techniques for Hospitality Managers: a practical approach remains a user friendly and hands-on introduction to finance and accounting in the hospitality industry. This fully revised and updated edition continues to be a must-have text for all students of Hospitality and a companion for all managers and employees, and allows them to put their learning into practice to achieve immediate results.
This book is found in the following Credo Collections:
Table of Contents
- Foreword
- Preface
- 1 Introduction to hospitality control
- So, what is a business?
- About hospitality and tourism
- Overall features of the industry
- Features of the different sectors
- The importance of control
- Attitudes to theft
- Stakeholders
- Organisational structures
- Financial control or accounts department
- 2 Understanding management reports
- Financial reports
- Profit & Loss Report
- Performance analysis
- The Balance Sheet
- Adjustments to Accounts
- 3 Managing revenue
- Features of different sectors
- Identifying areas for action
- Improving revenue controls
- Control processes for different sectors
- Revenue management
- Improving sales generally
- 4 Managing costs
- Types of costs
- Ratios
- Raw materials
- Ways of improving GPs
- Labour
- Other costs
- 5 Pricing to achieve profit
- Different types of pricing
- Marketer's method of pricing
- Fitting the methods together
- Breaking even
- 6 Forecasting
- Why bother?
- What is forecasting?
- Timing
- Forecasting new products
- Budgets
- Strategic planning
- Forecasting cash
- 7 Managing cash and stocks
- Cash
- Bank accounts
- Paying bills (creditors)
- Stock management
- Purchasing
- Storage
- 8 Planning and monitoring usage
- Features of raw materials
- Portion and usage control
- Recipe costing
- Standard costing
- Standard costing for payroll
- Sales variances
- 9 Using spreadsheets for management tasks
- The basics of spreadsheet design
- Spreadsheet exercise
- Using spreadsheets for different tasks
- Presenting results
- More practice on spreadsheets
- 10 Being part of a company
- Ownership of business
- Aspects of company accounts
- Shares
- Share ownership
- Franchising and management contracts
- 11 Conclusions and developing your skills
- Key themes
- Anticipating trends
- Developing your financial skills further
- Developing your skills
- Looking after your staff
- Glossary
- Further resources
- Answers to the Exercises