Accounting and Financial Management book cover

Accounting and Financial Management

Developments in the International Hospitality Industry

Accounting and Financial Management: developments in the international hospitality industry presents new and innovative research and developments in the field of accounting and financial management as it relates to the work of managing enterprises and organisations in the international hospitality industry. The content contains contributions from a rich source of international researchers, academics and practitioners including, university and college lecturers, professional accountants and consultants and senior managers involved in a wide range of teaching, scholarship, research, and consultancy in the hospitality industry worldwide. The material is drawn from their work and experience and relates directly to the management of hospitality undertakings. Therefore the up to date case studies and examples used are taken from a wide ranging of companies across the industry including large international chains such as Sheraton, Holiday Inn, and Intercontinental. Divided into three parts: Performance Management, Information Management and Asset Management the book tackles the following issues amongst others:* Performance management in the international hospitality industry* Benchmarking: measuring financial success* The profit planning framework* Making room rate pricing decisions* Hotel asset management UK and US perspectives* Lowering risk to enhance hospitality firm valueAccounting and Financial Management: developments in the international hospitality industry presents current developments drawn from a combination of live fieldwork and practical experience and therefore will content will appeal to a wide-ranging readership including practising managers and financial controllers in hospitality organisations, professional accountants and consultants, postgraduate candidates studying for master's degrees in hospitality management, and final year undergraduate students of hospitality management who elect to take an accounting option.

Audience
Final year BA/BSc hospitality management degree programmes (accounting options/electives, taught Postgraduate diplomas and Masters degree courses and Research Masters and Doctorate programmes.Practitioners within the industry such as: Financial controllers and accountants in hospitality organisations, Professional accounting and hospitality consulting firms, Executives and senior managers in regional/corporate offices. Also Resource centres/libraries in universities, colleges, professional accounting and hospitality consulting firms, professional and trade associations and commercial hospitality organisations.

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Published: March 2006

Imprint: Butterworth Heinemann

ISBN: 978-0-7506-6729-6

Reviews

  • "...the managers should be reading this." - Accounting Today, Sept. 17, 2006 This is a book that every hotelier should have in his office for references. Several parts of the "Accounting and Financial Management" section cover 360° our new global hotel world, from Productivity & Performances to Asset Management & Benchmarking. This book is very informative and the captivating style kept my interest alive from the beginning to the end. Peter Harris & Marco Mongiello have conducted an outstanding overview of the hotel global economy and I have been able to better understand some of the economic forces that drive our hotel business." Mr Emanuele Nasi General Manager of Sheraton Roma Hotel & Conference Center

Contents

  • Part A: Performance Management1. Performance measurement in independent hotels.Mine Haktanir, PhDAssistant Professor and Lecturer in School of Tourism and Hospitality Management, Eastern Mediterranean University,Turkish Republic of Northern Cyprus.2. Productivity in the hospitality industry: how to measure productivity and improve process management.Pekka Heikkilä, MSc (econ.) Certified HTM-Auditor (Finland)Lecturer in Business Accounting,Haaga Institute Polytechnic, Helsinki, Finland.andTimo Saranpää, MSc (econ.)Managing director, Sadanpaamies consultingLecturer in Business AccountingHaaga Institute Polytechnic, Helsinki, Finland3. Performance management in the international hospitality industry.Helen Atkinson MBA, BA(Hons) ACMA HCIMA ABHAPrincipal Lecturer in AccountingSchool of Service ManagementUniversity of Brighton, UK.4. Budgetary practice within the hospitality industry.Tracy Jones, BSc, MPhil, MHCIMAPrincipal Lecturer in AccountingCheltenham and Glocestershrie Univeristy, UK5. Benchmarking: measuring financial success in the hotel industry.Agnes Lee DeFranco, PhD, CHE, CHAEProfessor, Conrad N. Hilton College of Hotel & Restaurant Management University of Houston, USA6. Developing a benchmarking methodology for the hotel industry.Peter HarrisProfessor of AccountingDepartment of Hospitality, Leisure and Tourism Management, Business School, Oxford Brookes UniversityandMarco Mongiello, PhD, BA, ICA(Italy), ABHAPrincipal Lecturer in Accounting and FinanceHarrow Business School, University of Westminster, UK.Part B: Information Management7. The profit planning framework: applying marginal accounting techniques to hospitality services.Peter HarrisProfessor of AccountingDepartment of Hospitality, Leisure and Tourism Management, Business School, Oxford Brookes University8. Cross-border reporting for performance evaluation.Ian Graham, BAManaging Director of The Hotel Solutions Partnership LtdKings Langley, UK9. Cost analysis in hotel industry: an ABC customer focused approach and the case of joint revenues.Paolo Collini, PhD, MBAProfessor in Management Accounting and Strategic ManagementUniversity of Trento, ITALY10. Customer profitability in a hotel context.Vira Krakhmal, MSc, BA, ABHASenior Lecturer and Postgraduate ResearcherDepartment of Hospitality, Leisure and Tourism Management, Business School, Oxford Brookes University11. Room rate pricing: a resource-advantage perspective.Jean-Pierre I. van der Rest, MA, BBALecturer in Business Economics and Strategic MarketingLeiden University, NL12. The relevance of restaurant accounting systems.Tommy D. Andersson, PhDProfessor of Tourism Management,School of Business, Economics and Law at Goteborg University, Sweden13. Environmental accounting: reflecting environmental information in accounting systems.Rebecca Hawkins, PhD, BAFreelance Consultant and Research and Consultancy FellowDepartment of Hospitality, Leisure and Tourism Management, Business School, Oxford Brookes University14. Hotel unit financial management: does it have a future?Cathy Burgess, MPhil, CDipAF, FBHA, FHCIMASenior Lecturer in Accounting for the Hospitality IndustryDepartment of Hospitality, Leisure and Tourism Management, Business School, Oxford Brookes UniversityPart C: Asset Management15. Hotel asset management: will a North American phenomenon expand internationally?Paul Beals, PhDVisiting Professor of Hotel Real Estate and Finance,IMHI-ESSEC Business School,Cergy-Pontoise, France16. Hotel asset management: European principles and practice.Geoff S. Parkinson, BSc, FCA, FHCIMA, FBHA Managing DirectorHotel investment Advisors, UK17. A management accounting perspective on hotel outsourcing.Dawne Lamminmaki, PhD, BCom, MBA, CMALecturer in Accounting,Graduate School of ManagementGriffith University - Gold Coast, AUSTRALIA18. Sale and leaseback transactions in the hospitality industry.Charles Whittaker, BSc (Econ), FCA, MASenior Lecturer in HospitalityDepartment of Hospitality, Leisure and Tourism Management, Business School, Oxford Brookes University19. Hospitality firm risk determinants and value enhancement.Zheng Gu, PhD, BS, MAProfessor in Hospitality Finance & AccountingUniversity of Nevada, Las Vegas20. Investment appraisal issues arising in hotels governed by management contract.Chris GuildingProfessor in Tourism, Leisure, Hotel and Sport ManagementDirector, Service Industry Research CentreGriffith University, AUSTRALIA21. Autonomy and control in managing network organizations: the case of multinational hotel companies.Marco Mongiello, PhD, BA, ICA(Italy), ABHAPrincipal Lecturer in Accounting and FinanceHarrow Business School, University of Westminster, UK.andPeter HarrisProfessor of AccountingDepartment of Hospitality, Leisure and Tourism Management, Business School, Oxford Brookes University22. Career directions in financial management in the hospitality industry.Howard Field FCA FHCIMA FBHAHotel Industry Advisor, Director of FM Recruitmentand Visiting Fellow Oxford Brookes University

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