TAILIEUCHUNG - Lecture Hospitality financial management: Chapter 2 - DeFranco, Lattin

Chapter 2 tackles financial reporting in the hospitality industry. The specific topics covered include accounting as the language of business, financial statements, management reports and accounting system. This chapter is a recap of basic accounting rules and financial statements analyzed in a typical managerial accounting class. | Chapter 2 Financial Reporting Copyright © 2007 by John Wiley & Sons, Inc. All rights reserved Chapter Overview Accounting as the language of business Accounting standards and principles Uniform systems of accounts Financial statements Income statement Balance sheet Statement of cash flow Copyright © 2007 by John Wiley & Sons, Inc. All rights reserved Chapter Overview cont. Management reports Daily revenue report Daily payroll cost report Rooms revenue forecast Food and beverage menu abstract Accounts receivable aging schedule Accounting system - CP3 system Copyright © 2007 by John Wiley & Sons, Inc. All rights reserved Types of Accounting Financial Accounting Focuses on financial statements Must present: financial condition of the company operating results Managerial Accounting Provide timely operating results Focuses on: Revenues and expenses Maximizing operating performance Copyright © 2007 by John Wiley & Sons, Inc. All rights reserved Accounting Standards Develop Standards Financial Accounting Standards Board (FASB) Securities and Exchange Commission (SEC) Generally Accepted Accounting Principles (GAAP) Govern all accounting and financial reporting Copyright © 2007 by John Wiley & Sons, Inc. All rights reserved Accounting Principles Cost Principle All transactions must be recorded at cost Full Disclosure Principle Events that could impact a company’s financial position should be reflected on financial statements or footnotes Revenue Recognition Principle Revenues should be recorded in the month they are earned Copyright © 2007 by John Wiley & Sons, Inc. All rights reserved Accounting Principles cont. Matching Principle All expenses incurred in generating a revenue should be recorded in the period the revenue is earned Monetary Unit Principle Only transactions that can be expressed in terms of money can be shown on a company’s financial statements Economic Entity Principle Separates the dealings of a business from the private dealings of its owners Copyright © .

• Quản trị kinh doanh
• Financial management
• Hospitality financial management
• Hospitality industry management
• Financial reporting
• Hospitality industry
• Accounting system
• Financial statement
• International trade transactions
• Fundamentals of financial management
• Financial statement analysis
• International financial management
• Quản lý tài chính
• Multinational financial management
• Exchange rates
• Financial environments
• Overview of Financial Management and the Financial Environment
• The financial environment
• Forms of business organization
• Determinants of stock pricing
• Financial instruments
• Practical financial management
• Financial background
• Financial statements
• Financial planning
• Financial system
• Financial ratio
• IT financial management
• Setting the scene
• IT financial management maturity
• Parameters influencing IT financial management
• Costs of IT financial management
• More quantifiable benefits
• Overview of roles
• Analysis of financial reports
• Analyzing financial statements
• Management decision making
• Foundations of financial management
• Review of accounting
• Financial analysis
• Financial forecasting
• The financing decision
• Financial leverage
• Current asset management
• Paper F7
• Revision kit 2016
• Management Financial
• Financial Management Exam Review
• Review of Financial Management
• Study text 2016
• Lecture Multinational financial management
• International financial reporting standards
• Foreign exchange risk management
• Financing decisions
• Investment decisions
• Role of management
• International cash management
• Cash flow analysis
• Centralized cash management
• Intermediate financial management
• Financial options
• Corporate valuation
• Corporate governance
• Financial markets
• Cash flow
• Analysis of financial statements
• Ratio analysis
• Interest rates
• Financial institutions
• Forecasting sales
• Business environment
• Limited liability company
• Common size analysis
• Statement analysis
• Break even analysis
• Break even point