Essential Financial Techniques for Hospitality Managers 2edn
A practical approach
Cathy Burgess
ISBN: 978-1-908999-97-9 pbk; 978-1-908999-98-6 eBook
DOI: 10.23912/978-1-908999-97-9-2479
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"There is no doubt that this book can help you to become a better manager and I recommend this text for all managers in hospitality who need to manage the business finances responsibly and effectively."
from the foreword by Paul Dukes, FCA,Chairman of the Hospitality Professionals Association (HOSPA)
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.
Updated throughout with extensive new material especially in the fields of managing revenue and the use of spreadsheets, it covers a vast range of sectors (including hotels, restaurants, contract catering, leisure tourism, events, cruise ships and theme parks). In a ‘non-threatening’ manner and using a step-by-step approach, it enables students, employees and managers in all areas of the hospitality to:
Each chapter has a full set of learning features, such as bulleted objectives and summaries, case studies and examples, review questions and activities. Accompanying the text is a suite of online resources including self test multi-choice questions to evaluate understanding, links to further resources and solutions to exercises in the text .
Pub Date: Sept 2014
from the foreword by Paul Dukes, FCA,Chairman of the Hospitality Professionals Association (HOSPA)
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.
Updated throughout with extensive new material especially in the fields of managing revenue and the use of spreadsheets, it covers a vast range of sectors (including hotels, restaurants, contract catering, leisure tourism, events, cruise ships and theme parks). In a ‘non-threatening’ manner and using a step-by-step approach, it enables students, employees and managers in all areas of the hospitality to:
- Understand why the ‘bottom-line’ is important – and how small actions can have big effects;
- Contextualise the theory with case studies and examples using ‘real life’ scenarios;
- Use key management techniques to control their area of the business;
- Calculate the effect of their actions on a range of areas of the business. �
Each chapter has a full set of learning features, such as bulleted objectives and summaries, case studies and examples, review questions and activities. Accompanying the text is a suite of online resources including self test multi-choice questions to evaluate understanding, links to further resources and solutions to exercises in the text .
Pub Date: Sept 2014
Table of contents
Contents and copyrightChapter 1 Introduction to hospitality control
Chapter 2 Understanding management reports
Chapter 3 Managing revenue
Chapter 4 Managing costs
Chapter 5 Pricing to achieve profit
Chapter 6 Forecasting
Chapter 7 Managing cash and stocks
Chapter 8 Planning and monitoring usage
Chapter 9 Using spreadsheets for management tasks
Chapter 10 Being part of a company
Chapter 11 Developing your skills
Answers to the exercises
Table of contents
Contents and copyrightChapter 1 Introduction to hospitality control
Chapter 2 Understanding management reports
Chapter 3 Managing revenue
Chapter 4 Managing costs
Chapter 5 Pricing to achieve profit
Chapter 6 Forecasting
Chapter 7 Managing cash and stocks
Chapter 8 Planning and monitoring usage
Chapter 9 Using spreadsheets for management tasks
Chapter 10 Being part of a company
Chapter 11 Developing your skills
Answers to the exercises
About the authors
Cathy Burgess (MPhil, CdipAF, FBHA, FIH) spent many years in operational and financial management positions in the hospitality industry, principally with Thistle Hotels and Marriott Corporation. She is a senior lecturer in accounting in the Oxford School of Hospitality Management at Oxford Brookes University. She teaches financial management to undergraduate and postgraduate students both in the University and via on-line and distance learning. Cathy has been a Council member of BAHA (British Association of Hospitality Accountants) for many years, and is part of their Education Committee that oversees their professional development programmes.In her spare time she enjoys sitting with a glass of wine admiring the view from their old house in the Cotswolds.
Table of contents
Contents and copyrightChapter 1 Introduction to hospitality control
Chapter 2 Understanding management reports
Chapter 3 Managing revenue
Chapter 4 Managing costs
Chapter 5 Pricing to achieve profit
Chapter 6 Forecasting
Chapter 7 Managing cash and stocks
Chapter 8 Planning and monitoring usage
Chapter 9 Using spreadsheets for management tasks
Chapter 10 Being part of a company
Chapter 11 Developing your skills
Answers to the exercises
About the authors
Cathy Burgess (MPhil, CdipAF, FBHA, FIH) spent many years in operational and financial management positions in the hospitality industry, principally with Thistle Hotels and Marriott Corporation. She is a senior lecturer in accounting in the Oxford School of Hospitality Management at Oxford Brookes University. She teaches financial management to undergraduate and postgraduate students both in the University and via on-line and distance learning. Cathy has been a Council member of BAHA (British Association of Hospitality Accountants) for many years, and is part of their Education Committee that oversees their professional development programmes.In her spare time she enjoys sitting with a glass of wine admiring the view from their old house in the Cotswolds.
Online Resources
Excel versions of different exercises to accompany selected chapters, annotated with comments about spreadsheet design and other uses:
Chapter 2.1 - Public house exercise
Chapter 2.8: Rural restaurant exercise
Chapter 4.2: Town centre department store exercise
Chapter 5.4 London Restaurant Company exerciseChapter 5.5 Farm park exercise
Chapter 9 Rooms P&L & chart spreadsheet exercise
Solutions to exercises in the book:
Click here to download the pdf file of the solutions to the exercises
Posted by SALLY HARRIS, May 12, 2014