Management Accounting for Hotels and Restaurants
By Prof R Kotas, R. Kotas
Routledge – 1991 – 337 pages
The book gives practical instruction and guidance in the use of accounting for effective control and higher profit in hotel and catering operations. The author covers all aspects of the subject, setting arguments and examples in a real context.
"A book to be read and studied and used again and again for reference" - HCIMA
Orientation. The accounting framework. Basic cost concepts. Sales-cost-profit relationships. Break-even analysis.Introduction to decision accounting. Introduction to pricing. Pricing: some practical applications. Profitability. Profit sensitivity analysis. Budgetary control. Varianceanalysis. Food cost control. Beverage cost control. Accounting and operating ratios. Financial statement analysis. Analysis of departmental profitability. The managementof working capital. Assessment of capital projects. Appendix (DCF tables). References. Index.