Strategic Managerial Accounting: Hospitality, Tourism & Events Applications, 6th Edition

  • Tracy Jones
  • Helen Atkinson University of Brighton
  • Angela Lorenz
  • Peter Harris
  • Published By: Goodfellow Publishers Limited
  • ISBN-10: 1908999020
  • ISBN-13: 9781908999023
  • DDC: 657.837
  • Grade Level Range: College Freshman - College Senior
  • 326 Pages | eBook
  • Original Copyright 2012 | Published/Released September 2018
  • This publication's content originally published in print form: 2012
  • Price:  Sign in for price



This book explores the nature of these industry sectors and how these impact on the strategic managerial accounting (SMA) tools used by decision makers in the industry. This new 6th edition builds on the previous text, retaining its practical approach and active learning style, extending to consider strategic management accounting and to include tourism and events management industry contexts. It incorporates discussion, explanations and illustrations of the theoretical underpinning of hospitality, tourism and events related to SMA and managerial accounting concepts and techniques, together with specific examples of industry application. It has a user-friendly chapter structure, with pedagogic features including objectives, learning activities, self-check questions, references, and key points summaries. Each chapter includes ‘theoretical context’ sections which put the applied learning in the context of current research and thinking to bring the theory to life.

Table of Contents

Front Cover.
Title Page.
Copyright Page.
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.
28: Uncertainty.
29: Outsourcing.
Pricing Decisions.
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.
Business Finance.
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.
Performance Measurement.
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.
Not-for-Profit Organisations.
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.

Meet the Author

Author Bio

Helen Atkinson

Helen Atkinson is Senior Lecturer in the Department of Service Sector Management at the University of Brighton.