Essential Financial Techniques for Hospitality Managers a practical manual - Burgess, Cathy (Goodfellow Publishers Limited, 2010)
A user friendly and hands-on introduction to finance and accounting in the hospitality industry. A fully revised and updated second edition of the bestselling Guide to MoneyMatters for Hospitality Managers, it is a must-have companion for all managers and employees
Foreword; Preface; 1Introduction to hospitality control; So, what is a business?; About hospitality and tourism; Overall features of the industry; Features of the different sectors; The importance of control; Attitudes to theft; Stakeholders; Organisational structures; Financial control or accounts department; 2Understanding management reports; Financial reports; Profit & Loss Report; Performance analysis; The Balance Sheet; Adjustments to Accounts; 3Managing revenue; Features of different sectors; Identifying areas for action; Improving revenue controls
Control processes for different sectorsRevenue management; Improving sales generally; 4Managing costs; Types of costs; Ratios; Raw materials; Ways of improving GPs; Labour; Other costs; 5 Pricing to achieve profit; Different types of pricing; Marketer's method of pricing; Fitting the methods together; Breaking even; 6 Forecasting; Why bother?; What is forecasting?; Timing; Forecasting new products; Budgets; Strategic planning; Forecasting cash; 7Managing cash and stocks; Cash; Bank accounts; Paying bills (creditors); Stock management; Purchasing; Storage; 8Planning and monitoring usage
Features of raw materialsPortion and usage control; Recipe costing; Standard costing; Standard costing for payroll; Sales variances; 9Using spreadsheets for management tasks; The basics of spreadsheet design; Spreadsheet exercise; Using spreadsheets for different tasks; Presenting results; More practice on spreadsheets; 10 Being part of a company; Ownership of business; Aspects of company accounts; Shares; Share ownership; Franchising and management contracts; 11Conclusions and developing your skills; Key themes; Anticipating trends; Developing your financial skills further
Developing your skillsLooking after your staff; Glossary; Further resources; Index