Accounting and Finance for the International Hospitality Industry

Top experts specializing in hospitality management have contributed articles to this new collection which explains recent developments in accounting and finance. The material is drawn from a combination of fieldwork and practical experience. The managerial emphasis means that the content is fully relevant internationally and not constrained by the legal framework of different countries. Accounting and Finance provides an overview of: *analysis and evaluation of performance *planning methods and techniques *financial information and control *financial management. It also shows how operational analysis can be used as a management tool to improve performance. Techniques for predicting the financial success or failure of hotels are suggested. Research into hotel companies in the US and Europe demonstrates key performance indicators used by hotel managers and financial executives. Other contributors explore the interface between accounting and marketing and human resource management and there is thorough coverage of financial strategy formulation. Readers will also find helpful the section on statistics in the analysis and prediction of cost behaviour in hotels. Contributors: Raymond Schmidgall (Michigan State University, USA); Debra J. Adams (Bournemouth University, UK); Professor Elisa S. Moncarz (Florida International University, USA); Richard N. Kron (Kron Hospitality Consulting, USA); Angela Maher (Oxford Brookes University, UK); Peter J. Harris (Oxford Brookes University, UK); Geoff S. Parkinson (BDO Stoy Hayward Chartered Accountants, UK); Paul Fitz-John (Bournemouth University, UK); Paul Collier (University of Exeter, UK); Professor Alan Gregory (University of Glasgow, UK); Tracy A. Jones (Cheltenham and Gloucester College of Higher Education, UK); Jacqueline Brander Brown (The Manchester Metropolitan University, UK); Nina J. Downie (Oxford Brookes University, UK): Catherine L. Burgess (Oxford Brookes University, UK); Ian C. Graham (Holiday Inn Worldwide, Belgium); Howard M. Field (International Hotel and Leisure Associates, UK); Professor Paul Beals (Canisius College, USA); Frank J. Coston (Pannell Kerr Forster Associates, UK). Endorsed by the British Association of Hotel Accountants Articles contributed by the world's top experts in the field of hospitality management Edited by leading academic in accounting and finance for hospitality. Read more... Content: Dedication , Page i Copyright , Page iv Preface , Pages ix-x , Peter Harris Contributors , Pages xi-xvii Chapter 1 - Performance measures used in hotel companies , Pages 3-18 , Raymond S. Schmidgall Chapter 2 - Methods for predicting financial failure in the hotel industry , Pages 19-38 , Debra J. Adams Chapter 3 - Operational analysis in hotels , Pages 39-62 , Elisa S. Moncarz, Richard N. Kron Chapter 4 - Labour recruitment and turnover costs in hotels , Pages 63-79 , Angela Maher Chapter 5 - Statistical cost estimation and prediction in hotels , Pages 83-102 , Peter J. Harris Chapter 6 - Risk assessment in capital investment , Pages 103-111 , Geoff S. Parkinson Chapter 7 - Financial strategy formulation , Pages 112-136 , Paul Fitz-John Chapter 8 - The practice of management accounting in hotel groups , Pages 137-159 , Paul Collier, Alan Gregory Chapter 9 - Identifying managers' information needs in hotel companies , Pages 163-182 , Tracy A. Jones Chapter 10 - Management control in the hospitality industry: behavioural implications , Pages 183-201 , Jacqueline Brander Brown Chapter 11 - The use of accounting information in hotel marketing decisions , Pages 202-221 , Nina J. Downie Chapter 12 - The hotel financial controller: a member of the management team , Pages 225-238 , Catherine L. Burgess Chapter 13 - Financial management in an international environment: Hotel 2000 NV – a case study , Pages 239-260 , Ian C. Graham Chapter 14 - Financial management implications of hotel management contracts: a UK perspective , Pages 261-277 , Howard M. Field Chapter 15 - The hotel management contract: lessons from the North American experience , Pages 278-294 , Paul Beals Chapter 16 - Hotel profitability – critical success factors , Pages 295-314 , Frank J. Croston Index , Pages 315-319 Top experts specializing in hospitality management have contributed articles to this new collection which explains recent developments in accounting and finance. The material is drawn from a combination of fieldwork and practical experience. The managerial emphasis means that the content is fully relevant internationally and not constrained by the legal framework of different countries. Accounting and Finance for the International Hospitality Industry provides an overview of analysis and evaluation of performance, planning methods and techniques, financial information and control, and financial management. It also shows how operational analysis can be used as a management tool to improve performance. Techniques for predicting the financial success or failure of hotels are suggested. Research into hotel companies in the US and Europe demonstrates key performance indicators used by hotel managers and financial executives. Accounting and Finance for the International Hospitality Industry will be an invaluable resource for final year undergraduate and postgraduate students of hospitality management. Practising accountants, managers and consultants who need to keep up to date with new developments in the industry, particularly those who are members of the British Association of Hotel Accountants, will also find it useful Endorsed by the British Association of Hotel Accountants, this work contains contributed articles which explains developments in accounting and finance. It provides an overview of: analysis and evaluation of performance; planning methods and techniques; financial information and control; and financial management.