TAILIEUCHUNG - Lecture Managerial Accounting for the hospitality industry: Chapter 11 - Dopson, Hayes

Chapter 11 - Budgeting and internal controls. In this chapter you will learn about the variety of ways hospitality managers utilize budgets and the budgeting process to better operate their businesses. In fact, as you will discover, managers most often prepare not one, but several types of budgets. You will learn about the various types of budgets most hospitality operators prepare and why they develop them. | Chapter 11 Budgeting and Internal Controls The Importance of Budgets Types of Budgets Operations Budget Essentials Developing an Operations Budget Monitoring an Operations Budget Cash Budgeting Managing Budgets through Internal Controls Chapter Outline Learning Outcomes Identify the purposes for the various types of budgets used in the hospitality industry. Create an operations budget and monitor its effectiveness. Create a cash budget. Identify the characteristics of a successful internal control program. The Importance of Budgets Just as the income statement tells a managerial accountant about past performance, the budget, or financial plan, is developed to help you achieve your future goals. In effect, the budget tells you what must be done if predetermined profit and cost objectives are to be met. Without such a plan, you must guess about how much to spend and how much sales you should anticipate. Effective managers build their budgets, monitor them closely, modify them when .

• Kế toán - Kiểm toán
• Hospitality industry
• Managerial accounting
• Accounting fundamentals
• Financial statements
• Management of revenue
• Accounting information
• 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