By Agnes L. DeFranco, Thomas W. Lattin
Книга Hospitality monetary administration Hospitality monetary ManagementКниги Менеджмент Автор: Agnes L. DeFranco, Thomas W. Lattin Год издания: 2006 Формат: pdf Издат.:Wiley Страниц: 384 Размер: 6,3 ISBN: 0471692166 Язык: Английский0 (голосов: zero) Оценка:Real-world suggestion for speedy retention of crucial company options and abilities of hospitality finance Hospitality monetary administration offers a simple, functional method of aid the hospitality supervisor successfully research hospitality administration experiences and fiscal statements; organize exact company forecasts, strategic pricing versions, and powerful cost-control structures; deal with operating capital; advance and finance progress techniques; practice funding research; organize funding programs; negotiate and constitution company offers; and finally raise shareholder price and private wealth. This entire how-to booklet contains: function Stories--brief histories of well-known hospitality leaders highlighting how they've got used monetary administration talents to realize luck for his or her businesses and critical monetary rewards for themselves studying Outcomes--a precis of key themes lined in every one bankruptcy Finance in Action--scenarios that observe the suggestions, abilities, and methods provided within the bankruptcy to real-world occasions. A step by step answer is supplied for every challenge to stroll the reader in the course of the precious monetary calculations the true Deal--boxed inserts that emphasize the relevance of the e-book by way of linking monetary innovations to enjoyable evidence linked to events scholars both have or will stumble upon of their daily lives suggestion Checks--case stories that toughen the fabrics awarded and let scholars to perform their analytic and problem-solving abilities Hospitality monetary administration is the ideal booklet for undergraduate and graduate hospitality administration scholars, hospitality managers, and vendors of small hospitality companies.
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Extra resources for Hospitality Financial Management
Sample text
Some may say no, but it does ensure an open environment of input and guarantees a better end product. Good call! Financial Statements While you, as an entry-level hospitality manager, may not initially come in direct contact with the business’s financial statements, as you advance in the company you will. Knowing how to read, understand, and analyze a business’s financial statements is a valuable skill that will serve you well in the future. While it is not critical that you know how each statement is prepared, if you understand the basic components and what information is contained on each, you can better determine how the business is performing, how financially healthy it is, and how its value might be increased through better management.
Current assets have an estimated life of one year or less, while the estimated life of a fixed asset is more than one year. Assets are listed in the order of their liquidity. An asset’s liquidity relates to how easily and quickly it can be converted into cash. Liabilities are obligations the company owes government, lenders, vendors, suppliers, and employees. Liabilities are divided into current and long term. Current liabilities are obligations FINANCIAL REPORTING Sample Hotel Income Statement For the Year Ended December 31, 2008 Net Operating Income (NOI) I L L U S T R AT I O N 2 - 1 Sample Hotel Income Statement for the Year Ended December 31, 2008 23 24 CHAPTER 2 Ⅲ FINANCIAL REPORTING Sample Restaurant Income Statement For the Year Ended June 30, 2008 I L L U S T R AT I O N 2 - 2 Sample Restaurant Income Statement for the Year Ended June 30, 2008 FINANCIAL REPORTING 25 due within the period being reported, while long-term liabilities have due dates longer than the subject period.
The menu abstract tracks the popularity and the profitability of menu items to help management make menu changes as appropriate. The menu abstract can also be of value in calculating the theoretical food cost for a restaurant, which is then compared with the actual food cost for the period being analyzed. Illustration 2-8 shows that Mexicana Cantina offers sixty-six lunch menu items. 56 percent of total sales. The most popular entre´e is tacos al carbon, with 901 portions sold. 04 percent of sales) of chicken fajita quesadillas were sold, this menu item netted $1,981 in gross profit compared to the chili con queso gross profit of $2,723.