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Management accounting for hotels and restaurants: a revenue accounting approach

Author: Kotas, Richard Publisher: Surrey University Press, 1977. ; International Textbook Company, 1977.Language: EnglishDescription: 271 p. : Graphs ; 24 cm.ISBN: 0903384175Type of document: BookBibliography/Index: Includes bibliographical references and index
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Item type Current location Collection Call number Status Date due Barcode Item holds
Book Europe Campus
Main Collection
Print HG40 .K67 1977
(Browse shelf)
Available 000235527
Total holds: 0

Includes bibliographical references and index


Management Accounting for Hotels and Restaurants A Revenue Accounting Approach Contents Page Preface 1 Orientation Introduction. Sales instability. Cost structure. Nature of product. Cycle of operations. Business orientation. Problems. 1 2 The Accounting Framework Basic accounting concepts. Branches of accounting: historical accounting; cost accounting; financial accounting; decision accounting; control accounting; management accounting; revenue accounting. Problems. 3 Basic Cost Concepts Introduction. Fixed and variable costs. Fixed costs : some qualifications. Semi-fixed costs. Direct and indirect costs. Controllable and uncontrollable costs. Estimated, budgeted and standard costs. Average cost and marginal cost. Outlay cost and opportunity cost. Problems. 4 Sales--Cost--Profit Relationships Cost structure and profitability. Fixed costs and fluctuating sales. The break-even point. Contribution and PTV ratio. Fixed costs : impact on unit costs. Problems. 10 26 41 Page 5 Break-even Analysis Introduction. Basic break-even chart. Pricing break-even chart. Profit appropriation break-even chart. Control break-even chart. Profit-volume graphs. Departmental profit-volume graph. Limitations of break-even charts. Problems. 6 Introduction to Decision Accounting Closure in off-season. Closure of a department. Pricing decisions. Profit projections I. Profit projections II. Advertising decisions. Worked examples. Problems. 7 Introduction to Pricing Importance of pricing. Cost-plus pricing. Rate of return pricing. Determinants of price policy. The pricing situation. Profitability. Market situation. Operating costs. Problems. 55 74 90 8 Pricing: Some Practical Applications 109 Introduction. Development of pricing strategy. Basic price level and overall percentage of gross profit. Published information. Menu pricing. Pricing of beverages. Problems. 9 Profitability Concepts of profitability. Meaning of return on capital. Asset turnover. Iso-profit curves. Profit sensitivity analysis. Profit multipliers. Profit variance analysis. Problems. 124 10 Budgetary Control Definitions. Objectives and advantages. The overall framework. Preparation of budgets. Key factors. Operating budgets. Capital budgets. Examples. Problems. 149 Page 11 Variance Analysis Introduction. Some basic principles. Sales and cost variance models. Revenue-based variances. Cost-based variances. Variance analysis and profit variance analysis. Problems. 171 12 Food Cost Control Objectives and methodology of food cost control. The control cycle : buying; receiving ; storing and issuing; preparing; selling. Problems. 13 Beverage Cost Control Profitability aspects. Control and security of beverage stocks. Buying. Receiving. Cellar control. Issuing. Records. Bar profit control. Problems. 14 Accounting and Operating Ratios Accounting ratios. Operating ratios. Operating statistics. Choice of appropriate ratios and the sector of the industry. Revenue-based and cost-based ratios. 192 212 219 Problems. 15 The Management of Working Capital Importance of working capital. Components of working capital and relevant methods of control. Projections of working capital. Funds flow statements. Cash flow statements. Problems. 16 Assessment of Capital Projects Introduction. Pay-back method. Return on investment. Discounted cash flow : time value of money. Net present value and internal rate of return. Problems. 250 236 Appendix A: DCF Tables References Index 264 266 269

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