Accounting and Financial Analysis in the Hospitality Industry

Jonathan A. Hales “Accounting and Financial Analysis in the Hospitality Industry"
Butterworth-Heinemann | 2005-08-01 | ISBN: 0750678968 | 312 pages | PDF | 1,2 MB

The objective of this textbook is to teach students to be conversational in speaking numbers. This means understanding fundamental accounting concepts, developing solid financial analysis abilities, and then applying them to understand and improve the operational performance of their hotel or restaurant. The book will accomplish this by studying the current practices of some of todays leading hotel and restaurant companies. Chapters will be developed under the auspices of a select group of hospitality industry General Mangers, Directors of Finance, and Regional Accounting Managers to ensure that the information is current, accurate and useful. Understanding and applying the information will be the main focus of this book.

This textbook should provide hospitality managers the knowledge and experience to be comfortable in using numbers to operate their departments. This includes developing the ability to perform all accounting and financial aspects of their position efficiently and correctly including revenue forecasting, wage scheduling, budgeting, P&L critiques, purchasing procedures and cost control methods. As a result, they will have more time to spend on the floor with their customers and employees. This knowledge will help them understand their operations and how to improve, change or expand them to increase revenues or profits.

* Introduces the fundamentals of hospitality accounting from an applied perspective with real industry examples

* Developed under supervision of industry experts

* Incorporates career success model to place subject in a larger context for students

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Activity-based Cost Management: An Executive's Guide

Activity-based Cost Management
Wiley | 2001-09-07 | ISBN: 047144328X | 384 pages | PDF | 1,3 MB

As the growth of the Internet shifts power to consumers, the pressure on companies to keep prices low will continue to mount. Increasingly corporations are relying on "margin management" and supply chain management as a means of keeping prices low while raising profits. Activity-based costing and management (ABC/M) data is key to succeeding in both these critical management strategies. This book explains how executives can effectively use the information furnished by cutting-edge ABC/M systems. The author, an acknowledged expert in the field, clearly defines the ABC/M system and explains how to use the information it provides for best results. He provides a rational framework for understanding the fifteen key defining characteristics of ABC/M and arms readers with an ABC/M Readiness Assessment test along with extremely user-friendly exhibits.

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The Essentials of Finance and Accounting for Nonfinancial Managers

The Essentials of Finance and Accounting for Nonfinancial Managers
AMACOM | 2002-05-15 | ISBN: 0814471226 | 288 pages | PDF | 1,3 MB

Outside of the accounting and finance departments, not many business people are interested in the finer points of financial reports. But every manager must have a thorough understanding of what their finance and accounting staffs do, why they do it, and what these reports really mean. Edward Fields' Essentials Of Finance And Accounting For Nonfinancial Managers tells how to understand the basics of a balance sheet, income statement, cash flow statement and annual reports. Newcomers to reading company financials will appreciate the clear explanations on investment returns, analysis ratios, and other methods of understanding business reports.

This indispensable book demystifies the role that accounting and finance play in a corporation and demonstrates how financial decisions are manifestations of company goals. The author's crystal-clear examples show how managers can connect corporate financial information directly to their own strategies and actions. To demonstrate these connections, the author covers such essential topics as:

* Balance sheets and income/cash flow statements * Reading and understanding annual reports * Fixed-cost and variable-cost issues * Financial analysis, budgeting and forecasting.

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Mergers and Acquisitions: Business Strategies for Accountants

William Gole, Joseph Morris “Mergers and Acquisitions: Business Strategies for Accountants"
Wiley | 2007-04-27 | ISBN: 0470042427 | 416 pages | PDF | 1,7 MB

Supplemented annually to keep accountants up-to-date with the latest SEC requirements, this completely revised edition focuses on the entire process of Mergers and Acquisitions-—from planning through post-acquisition integration. Readers will find helpful step-by-step guidance on reviewing an acquisition candidate, setting up and implementing computer system transactions, accounting for the business combination, and tax compliance and regulatory considerations.

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Dynamics of Profit-Focused Accounting: Attaining Sustained Value and Bottom-Line Improvement

Dynamics of Profit-Focused Accounting
J. Ross Publishing | 2004-07 | ISBN: 1932159223 | 272 pages | PDF | 2,3 MB

Organizations using traditional accounting systems and concepts have difficulty coping with the speed and acceleration created by lean programs. The author’s profit-focused accounting approach will enable organizations to accurately measure and report the results of Lean Six Sigma efforts on a monthly basis. Dynamics of Profit-Focused Accounting does not suggest throwing out existing accounting systems or generally accepted accounting principles, but rather shows you how to bridge the GAAP to a Lean accounting system. It also presents advanced concepts and methodologies that encompass corporate performance management and provides the tools and techniques to use these concepts to increase profit, create value, and build a solid foundation for the future. This book is a must-read for manufacturing managers, executives, financial managers, cost and management accountants, and controllers.

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The Controller's Function: The Work of the Managerial Accountant

The Controller's Function
Wiley | 2004-12-03 | ISBN: 0471683302 | 480 pages | PDF | 4,6 MB

From describing essential competencies—cash management, budgeting, fraud prevention and establishing codes for corporate ethical behavior—to detailing the more sophisticated skills like activity-based and target costing, disaster recovery planning, and outsourcing, The Controller's Function expertly balances both the technical and managerial sides of the job.

You'll quickly access information on how to:

* Use electronic spreadsheets for financial analysis
* Successfully implement a shared service center
* Enhance performance through online inventory systems, quick closing procedures
* Selecting adequate accounting software
* Avoid insurance pitfalls through proper planning

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Accountants' Handbook, Financial Accounting and General Topics

D. R. Carmichael, O. Ray, CPA, PhD Whittington, Lynford Graham “Accountants' Handbook, Financial Accounting and General Topics"
Wiley | 2007-04-20 | ISBN: 0471790389 | 1056 pages | PDF | 5,85 MB

This highly regarded reference is relied on by a considerable part of the accounting profession in their day-to-day work. This handbook is the first place many accountants look to find answers to practice questions. Its comprehensive scope is widely recognized and relied on. It is designed as a single reference source that provides answers to all reasonable questions on accounting and financial reporting asked by accountants, auditors, bankers, lawyers, financial analysts, and other preparers and users of accounting information.

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Best Practice in Inventory Management

Best Practice in Inventory Management by Tony Wild
Publisher:Elsevier Science Ltd 2002|ISBN 0 7506 5458 9|PDF|1.3M

This book contains two main ingredients, namely:
- the basics of inventory management as covered in the Institute of
Operations Management (IOM) Diploma syllabus
- the application of these techniques to real inventory management.

The book is a driver’s manual for Inventory Controllers. It covers the

working of the engine (how inventory control techniques work) how to use 

the controls (what the techniques do and how to manage them), and how 

to get the best out of the vehicle (how to optimize inventory). Understand 

the text and it will show the way to guaranteed improved inventory control,

reduced stock levels and higher availability.

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Behavioral Management Accounting

Behavioral Management Accounting
Publisher: Quorum Books | 2001-10-30 | ISBN:1567204430 | Pages: 272 | PDF | 1.2 Mb

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Accounting for Fixed Assets

Accounting for Fixed Assets by Raymond H. Peterson (Author)
Publisher: Wiley; 2 edition (March 15, 2002) | ISBN-10: 047109210X | PDF | 1 Mb | 224 pages

Strategies AND techniques for getting the most out of A COMPANY'S physical assets

Accounting for Fixed Assets, Second Edition presents comprehensive guidelines for effectively managing property, plant, and equipment in order to get the maximum benefits out of investments in these long-term tangible assets. Enhanced with numerous examples and illustrations, this new edition features essential material on government accounting, not-for-profit accounting, and practical computer programs.

Complete, up-to-date coverage of fixed-asset accounting includes:
— Asset classification — Base unit — Asset value — Asset safeguards — Inventories of fixed assets — Extraordinary repairs — Written policies — Self-constructed assets

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Dictionary of Accounting

A & C Black Publishers “Dictionary of Accounting: Over 6,000 Terms Clearly Defined"
A & C Black Publishers Ltd | 2007-09-30 | ISBN: 0713682868 | PDF | 288 pages | 3,3 Mb

Ideal for accounting students and those needing to enrich their background, this wide-ranging dictionary covers all areas of the discipline, including personal finance, investments, and corporate accounting. Each entry contains sample sentences and notes on grammar and usage to give the clearest picture of a word’s meaning. Terms are shown in context by quotations from newspapers and magazines.

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Advances in Quantitative Analysis of Finance and Accounting, Volume 2

Cheng F. Lee “Advances in Quantitative Analysis of Finance and Accounting, Volume 2"
World Scientific Publishing Company | 2005-05 | ISBN: 9812561641 | 236 pages | PDF | 3,3 Mb

Continuation of the similarly titled book series that was previously published by JAI Press from 1991.

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Advances in Quantitative Analysis of Finance and Accounting

Cheng Few Lee, " Advances in Quantitative Analysis of Finance and Accounting Vol.1"
World Scientific Publishing Company (June 17, 2004) | ISBN: 9812386696 | 316 pages | PDF | 1,6 Mb

Advances in Quantitative Analysis of Finance and Accounting, New Series (AQAFANS) is a continuation (with new features) of the similarly titled book series that was previously published by JAI Press from 1991. AQAFANS is an annual publication designed to disseminate developments in the quantitative analysis of finance and accounting. It is a forum for statistical and quantitative analyses of issues in finance and accounting, as well as applications of quantitative methods to problems in financial management, financial accounting, and business management. The objective is to promote interaction between academic research in finance and accounting, applied research in the financial community, and the accounting profession.

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Accounts Receivable Management Best Practices

John G. Salek, " Accounts Receivable Management Best Practices"
Wiley(July 28, 2005)| ISBN: 0471716545 | 224 pages | PDF | 1,7 Mb

"An excellent reference tool on how to manage the accounts receivable process for any company. The use of real-life examples makes the concepts easy to understand. I recommend the book to anyone who wants to improve cash flow and reduce bad debt loss."

—Michael E. Beaulieu, Senior Vice President, Finance Cardinal Health

"Rather than simply explaining how to get the greatest return from an investment in accounts receivable, John G. Salek reveals how companies shoot themselves in the foot when management sets policies and procedures without consideration of the impact on cash flow. Accounts Receivable Management Best Practices isn't just for credit and collection professionals who often spend more time cleaning up process errors and other corporate 'garbage,' instead of managing risk. It should be required reading for C-level executives, the sales staff, operations managers, and anybody else whose job impacts the order-to-cash cycle."

—David Schmidt, Principal, A2 Resources Coauthor of Power Collecting: Automation for Effective Asset Management

"Enhancing a company's competitive profile is all about giving enough customers the right product, at the right price, at the right time. This author's real-world approach to accomplishing this goal through the prism of receivables management makes this book a must-read for those companies looking to make their mark as an organization that cares about its customers as well as their own need to produce financial results."

—Bruce C. Lynn, Managing Director The Financial Executives Consulting Group, LLC

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Accounting for Managers

William Webster , Accounting for Managers (Briefcase Books Series)
McGraw-Hill | ISBN 0071421742 | 1 edition (October 1, 2003) | 225 Pages | 2.61 Mb

How to speak – and understand – the language of business accounting. Financial relationships between and among everyday business activities. Next-generation systems including Balanced Scorecard, Just-in-Time, and more Before you truly understand a business – and how to succeed in that business – you must understand its cash flow. Let Accounting for Managers give you the knowledge you need to talk intelligently about accounting issues and questions and, just as important, enhance your productivity and value to both your organization and your career.

Briefcase Books are written specifically for today's busy manager. Each book features eye-catching icons, checklists, and sidebars to guide managers step-by-step through everyday workplace situations. Look for these innovative design features to help you navigate through each page.

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Accounting and Business Valuation Methods

Malcolm Howard “Accounting and Business Valuation Methods: how to interpret IFRS accounts"
CIMA Publishing | 2007-12-31 | ISBN: 0750684682 | 312 pages | PDF | 1,2 Mb

This book is intended to appeal to junior accountants who need guidance and practical analytical tools for risk assessment when assessing the credit risk of companies they are doing business with. It will also appeal to students taking modules that cover basic accounting techniques such as ratio analysis and investment appraisal, as well as company valuation and share valuation. The book demonstrates with case studies where practice often differs from theory.

Chapter 1, looks at how accurate company accounts are, and covers topics such as the basic principles of accounting; accounting standards; the annual report; key words and limitations; what makes a director act imprudently; clues to assess accuracy. Chapter 2, considers the basic tools of analysis; reviewing market valuations and market to book ratio; assessing the balance sheet; is the company making good use of its assets; ratio analysis (performance, asset management, structure and investor ratios); investment appraisal procedures. Chapter 3 then looks at valuing companies: systematic and unsystematic risk; the Capital Asset Pricing Model (CAPM); income v growth; valuation techniques for manufacturing and service companies. Chapter 4 brings everything together via case studies: understanding the industry; benefiting from a cautious board;
the cost of an imprudent board; price paid for excessive growth strategies; biting off more than one can chew; dramatic effect of stalled growth; overstated assets; profits without cash; and why it is usually better to be acquired.

Via a through analysis of published company accounts.
This book will show you, as a junior accountant and/or student of accounting how to:
* distinguish between mandatory and optional reports
* assess the strength of a companys balance sheet
* assess whether or not the market value of a particular company is justified
* assess the risk factors associated with investment
* examines the difference between mandatory and optional reports
* explains how to assess the strength of a companys balance sheet
* looks at how to assess whether or not the market value of a particular company is justified

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Management Accounting Best Practices: A Guide for the Professional Accountant

Steven M. Bragg “Management Accounting Best Practices: A Guide for the Professional Accountant"
Wiley | 2007-08-31 | ISBN: 047174347X | 304 pages | PDF | 2,1 MB

Praise for Management Accounting Best Practices

"It doesn't matter where you start reading, even the most experienced accountant will find some useful ideas."

-Alan H. Boycott, Chartered Accountant, Düsseldorf, Germany

"This is one of the best books about new accounting practices in practical accounting. I highly recommend this book for accountants of all levels."
-Andrei Ralko, ControllerInternational Center for Transitional JusticeNew York, NY

The only practices worth followingare the best practices...
Destined to become an essential desktop tool in helping professionals make management decisions in accounting, Management Accounting Best Practices introduces over 100 best practices from accounting expert Steven Bragg for questions such as:
How does the system of interlocking budgets work?
What does a sample budget look like?

What best practices can I apply to the budgeting process?

How can I integrate the budget into the corporate control system?
How do throughput concepts impact the budget?

Now, when members of your management team come calling with questions, you'll have the answers at your fingertips, in Management Accounting Best Practices. It's the easy-to-use, daily reference manual for every accountant in a management position.

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Accounting Best Practices

Steven M. Bragg, "Accounting Best Practices, 5 ed."
Wiley; 5 edition (March 23, 2007) | ISBN-10: 0470081821 | 512 pages | PDF | 2,18 Mb

Provides the most advanced techniques and strategies available today to help your business cut costs and improve accounting operations-regardless of your company's size or holdings. DLC: Accounting.

"For a comprehensive, yet easy-to-read guide to fixing those all-too-common shortcomings in your accounting department, look no further than this excellent book. Steve Bragg provides hundreds of fixes, many of them requiring surprisingly little time or cost while providing a handy guide to common implementation pitfalls . . . I would recommend this invaluable book to anyone who is looking to enhance their existing processes, whether due to growth in their business, compliance with Sarbanes-Oxley, or just as part of their ongoing improvement process."
—Martyn Webster, CPA, Director of FinanceXenoPort, Inc.

"This book is critical to running an efficient and accurate accounting department. The use of RFID technology to track documents is one of many valuable tools in this latest edition. A required read for the demanding accounting manager's role."
—Jason Charet, CPA

"I've used Steve Bragg's Accounting Best Practices books for years as a source of ideas for improvement. Like the previous editions, the Fifth Edition has a number of new, actionable best practices as well as refinements of those ideas reported in previous editions. The books are broad enough in their perspective so that nearly any organization could find ideas that could pay back the cost of the book many times over."

—John Temmerman, Controller Evangelical Lutheran Church in America

"What a great resource! I have been in the accounting field for over twenty years, and I was still able to gain insight into improving processes within my office. Thanks for putting it all in one book!"
—Tina M. Thomas, CPA, CTP, Controller Goodman & Company, LLP

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Advances in Management Accounting, Volume 15

John Y. Lee, Marc J. Epstein, " Advances in Management Accounting, Volume 15 "
JAI press | 2006-07-12 | ISBN: 0762313528 | 228 pages | PDF | 1,5 Mb

Advances in Management Accounting (AIMA) publishes well-developed articles on a variety of current topics in management accounting that are relevant to researchers in both practice and academe. As one of the premier management accounting research journals, AIMA is well poised to meet the needs of management accounting scholars.

Featured in Volume 15 are articles on: low-intensity R&D and capital budgeting decisions in IT firms; investment decision in modular manufacturing systems within a critical thinking framework; reliability and validity of balanced scorecard measures and dimensions; decision outcomes under activity based-costing; presentation and decision commitment interactions; decision control of products developed using target costing; strategic budgeting and information symmetry; a performance management model; CEO compensation and firm performance; specialized journals and management accounting research paradigms; knowledge management systems for knowledge-products organizations; and trust and commitment as intangible drivers of interorganizational performance.  Researchers in both practice and academe, as well as libraries, would be interested in the articles featured in the AIMA.

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Advances in Management Accounting, Volume 14

John Y. Lee , Marc J. Epstein, "Advances in Management Accounting, Volume 14"
JAI Press (December 10, 2005) | ISBN: 0762312432 | 312 pages | PDF | 1,3 Mb

Advances in Management Accounting (AIMA) publishes well-developed articles on a variety of current topics in management accounting that are relevant to researchers in both practice and academe. As one of the premier management accounting research journals, AIMA is well poised to meet the needs of management accounting scholars.

Featured in Volume 14 are articles on: quality-based incentives in measuring non-financial performance of healthcare industry; revenue drivers in the accounting literature; judgmental effects in the use of performance measurement systems; the influence of IS quality information, corporate environmental integration, product innovation, and product quality on organizational performance; managing and controlling environmental performance, implications of strategic organizational development (the Pyramid) in accounting, information, and control; interactive effects involving product development organizations and target cost management; antecedents and consequences of budget participation; the impact of employee rank on attitudes, motivation and performance; expectancy theory as the basis for activity-based costing systems implementation; and dysfunctionality in performance measurement when outputs are difficult to measure.

Researchers in both practice and academe, as well as libraries, would be interested in the articles featured in the AIMA.

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