TAILIEUCHUNG - Lecture Managerial Accounting for the hospitality industry: Chapter 10 - Dopson, Hayes

Chapter 10 - Forecasting in the hospitality industry. In this chapter, you will learn how managerial accountants can accurately forecast revenues as well as how they utilize this information to maximize profit and increase operational efficiency. | Chapter 10 Forecasting in the Hospitality Industry The Importance of Accurate Forecasts Forecast Methodology Utilizing Trend Lines in Forecasting Chapter Outline Learning Outcomes Identify reasons why accurate revenue forecasts are important. Forecast restaurant and hotel revenues. Utilize trend lines in the forecasting process. The Importance of Accurate Forecasts One of the first questions restaurateurs and hoteliers must ask themselves is very simple: “How many guests will we serve today? This week? This year?” The answers to questions such as these are critical, since these guests will provide the revenue from which basic operating expenses will be paid. Labor required to serve the guests is also determined based on the manager’s “best guess” of the projected number of customers to be served and what these guests will buy. The Importance of Accurate Forecasts Forecasts of future revenues are normally based on a careful recording of previous sales, since what .

• Kế toán - Kiểm toán
• Hospitality industry
• Managerial accounting
• Accounting fundamentals
• Financial statements
• Management of revenue
• Forecast methodology
• Hospitality law
• The hospitality industry
• Hospitality managers
• Hospitality business structures
• Significant hospitality contracts
• Legally managing property
• Prevention philosophy
• Legal responsibilities
• Legally selecting employees
• Management in the hospitality industry
• Food service
• Service industry
• Hospitality careers
• Hospitality management