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Get Accounting and Finance for the International Hospitality PDF

By Peter Harris

ISBN-10: 008093868X

ISBN-13: 9780080938684

ISBN-10: 075063586X

ISBN-13: 9780750635868

Best specialists focusing on hospitality administration have contributed articles to this new assortment and is the reason contemporary advancements in accounting and finance. the cloth is drawn from a mix of fieldwork and useful adventure. The managerial emphasis implies that the content material is absolutely suitable across the world and never limited via the felony framework of other international locations. Accounting and Finance Read more...

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Additional resources for Accounting and Finance for the International Hospitality Industry

Sample text

A strong score in 1987swiftly drops into the failure band in more recent years. Resort Hotels PIC (year of incorporation 1983) Sales and retained profits grew consistently throughout the 1980s but the pattern of growth was interrupted in the early 1990s. Listings for the company’s shares were suspended in July 1993 pending clarification of the company’s financial position. Substantial asset revaluations in this year produced a substantial loss. The Z-score drops to mirror the company fortunes. 4 per cent of failed and 93 per cent of survivor companies.

However, care should be taken as the resulting values can vary considerably from one industry to another. 5 times by current assets. However, companies in the hospitality sector have survived with ratios which are considerably less than 1. The leisure sector in particular is typical, where sales are predominantly made for cash, stocks and cash holdings are kept at minimal levels and purchases are bought on credit. 2. 0 Source: Microview Exstat (Extel Financial Ltd) Shareholders' investment ratios These are normally calculated by investment brokers and financial advisers for a range of companies to highlight levels of performance and are not considered in detail in this chapter.

They must understand what goes into the financial statements, and most importantly, how to analyse these reports so that they are in a position to identify developing problems and take appropriate corrective action. Emphasis on operating improvements In today’s uncertain economic environment, hospitality management has to place more emphasis on operating improvements than product development. At the same time, the erosion of profits that the industry suffered in the early 1990s accompanied by its inability to raise room rates significantly has focused more attention on making money on sales.

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Accounting and Finance for the International Hospitality Industry by Peter Harris


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