Foreword by Professor Peter Harris.
Preface to the Sixth Edition.
A Strategic Managerial Accounting Perspective to Hospitality, Tourism and Events Operations.
1: Introduction and Objectives.
2: Defining Accounting and Finance.
3: The Hospitality, Tourism and Events Focus.
4: Characteristics of Hospitality, Tourism and Events.
5: The Role of Managers in Strategic Managerial Accounting.
Financial Statements for Decision Making.
6: Introduction and Objectives.
7: Alternative Accounting Statements.
8: The Difference Between Profit and Cash.
9: Key External Financial Reporting Frameworks – IFRS.
10: Key Management Accounting Reporting Framework – USALI.
11: The Purpose of Such Statements in Aiding Managers.
Costs and Their Behaviour.
12: Introduction and Objectives.
13: Classifying Costs.
14: Behaviour – Fixed, Variable and Semi-Variable Costs.
15: Cost Concepts, Analysis and Applications.
Cost Volume Profit Analysis (CVP).
16: Introduction and Objectives.
17: CVP Terminology and Concept.
18: CVP Calculations.
19: CVP in an Industry Context.
20: Computerised ‘What If?’ Analysis.
Short-Term Decision Making.
21: Introduction and Objectives.
22: Relevant Costs in Decision Making.
23: Opportunity Costs.
24: Differences between Short-Term and Long-Term Decisions.
25: Types of Short-Term Decisions.
26: Long-Term Implications of Short-Term Decisions.
27: Scarce Resources.
30: Introduction and Objectives.
31: Pricing Approaches.
32: Relationship of Cost/Cost Structure to Price.
33: Developing a Pricing Strategy.
Revenue and Yield Management.
34: Introduction and Objectives.
35: The Concept of Revenue Management.
36: Characteristics for Revenue Management.
37: Revenue Management in Different Environments.
38: Revenue Maximisation or Profit Maximisation?.
Costing and Customer Profitability Analysis.
39: Introduction and Objectives.
40: Market Decisions.
41: The Accounting/Marketing Interface.
42: Activity-Based Costing (ABC).
43: Activity-Based Management (ABM).
44: Customer Profitability Analysis (CPA).
45: Profit Sensitivity Analysis (PSA).
The Use of Budgets in Organisations.
46: Introduction and Objectives.
47: The Role of Budgets.
48: Master Budget Preparation.
49: Budgetary Control.
50: Behavioural Aspects of Budgeting.
51: Beyond Budgeting/Better Budgeting.
Event and Function Management Acounting Techniques.
52: Introduction and Objectives.
53: Features of the Events and Function Sector.
54: Event Planning Phase Management Accounting Tools.
55: Management Accounting Tools for use During the Event.
56: Post-Event Performance Review Management Accounting Tools.
Financial Analysis of Performance.
57: Introduction and Objectives.
58: Methods of Analysis.
59: Scanning, Trend Analysis and Time Series.
60: Comparative and Common-Size Statement Analysis.
61: Types of Ratios.
62: Ratio Analysis Illustration.
63: Financial Ratios.
64: Interpretation of Results.
65: Operating Ratios.
Working Capital Management.
66: Introduction and Objectives.
67: Understanding Working Capital.
68: Working Capital Financing Policy.
69: Working Capital Characteristics.
70: Working Capital Ratios.
71: Management of Inventory.
72: Managing Accounts Receivable.
73: Managing Accounts Payable.
74: Management of Cash.
75: Introduction and Objectives.
76: Short-Term Sources of Finance.
77: Long-Term Sources of Finance.
78: The Weighted Average Cost of Capital (WACC).
79: SMEs and Micro Businesses.
80: Sector-Specific Financing.
Capital Investment Appraisal.
81: Introduction and Objectives.
82: The Value of Investment Appraisal.
83: Example Data.
84: Accounting Rate of Return (ARR).
85: Payback Period (PBP).
86: The Time Value of Money.
87: Discounted Payback Period.
88: Net Present Value (NPV).
89: Internal Rate of Return (IRR).
90: Profitability Index.
91: Uncertainty in Investment Projects.
92: Integrated Strategic Approaches.
93: Introduction and Objectives.
94: Performance Measurement History and Development.
95: Key Frameworks and Models.
96: Performance Measurement in Hospitality, Tourism and Events Industries.
97: Benchmarking Performance.
Strategic Management Accounting.
98: Introduction and Objectives.
99: Why Strategic Management Accounting? Definitions and Evolution.
100: Linking Strategy and Accounting (Strategic Versus Traditional Accounting).
101: Boston Matrix, Risk Return and Cash.
102: Value Generation and Value Drivers.
103: Product Lifecycle, Profit, Cash and Investment.
104: The Balanced Scorecard (BSC).
105: Activity-Based Management (ABM).
106: Other Management Accounting Tools Considered to be Strategic.
Critical Success Factors and Management Information Needs.
107: Introduction and Objectives.
108: Management Information Needs.
109: Defining Critical Success Factors (CSFs).
110: The Relationship Between Goals, CSFs and Measures.
111: The Use of CSFs in an Organisation.
Sustainability and Environmental Management Accounting.
112: Introduction and Objectives.
113: The Triple Bottom Line (People, Planet and Profits).
114: Managing a Sustainable Business.
115: EMA Reporting.
116: Environmental Management Accounting Guidelines.
117: Introduction and Objectives.
118: Defining a Not-For-Profit Organisation.
119: Their Significance to the Hospitality, Tourism and Events Sectors.
120: The Implications for Management Accounting Approaches.
Current Issues in Strategic Managerial Accounting.
121: Introduction and Objectives.
122: Management Accounting Change Over Time.
123: Use of Management Accounting in Hospitality, Tourism and Events.
124: The Role of the Management Accountant.
125: Contemporary Applied Research.
126: Managerial Accounting and the Reader.
Answers to Self-Check Questions.