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accounting financial analysis
Accounting and Financial Analysis in the Hospitality Industry 1st edition Johnathan Hales - Solutions
List five characteristics of the Statement of Cash Flow.
Compare and contrast liquidity with profitability.
List five characteristics of the Balance Sheet.
What accounts on the Balance Sheet will hospitality managers generally use in the daily operations of their departments?
Describe working capital and capitalization, and explain what each is used for. Include the Balance Sheet accounts that are used in each process.
Explain the financial information contained in a Balance Sheet and explain how it is used.
Springhill Suites and Residence Inn properties complement each other by providing different experiences for travelers. Visit www. chicagorivernorthhotel.com to view more information on these new properties. Answer the following questions from the perspective of White Lodging.1. Which property
Draw the format for a Department P&L using the three sections in review questions 4.
Draw the format for a Consolidated P&L using the three sectons in review question 4.
Match the line account or classification to the appropriate P&L.A. _________ Hourly wage cost 1. Consolidated P&L.B. _________ Linen expense 2. Department P&L.C. _________ Revenue
Why do you think this is the most important chapter in this book?
Refer to the hotel organization chart in Chapter 3. Identify at least one hotel department that each Executive Committee Member is responsible for.Data from Chapter 3 General Manager Assistant General Manager Front Desk Housekeeping Restaurant Engineering Supervisor Manager Supervisor Supervisor
What is a line account and why is it important in financial analysis?
Explain the differences between a Profit Center and Expense Center. Give examples.
Name the three sections for the format for a P&L.
Name and describe four different profit levels and what they measure.
Define and name the five main revenue and expense categories contained in a Department P&L.
Define and name the four main classifications of accounting information contained in a Consolidated P&L.
What management positions do you think are for 12 months and what positions.
To whom would you have the Director of Golf reporting to and why?
With 135 rooms, would you recommend one Director of Operations or would you distribute those responsibilities between the Director of Rooms Operations and the Director of Food and Beverage? Why?
Draw the organization chart for the Otesaga Resort Hotel, including the Executive Committee that reports to the General Manager and the different department heads that report to the Executive Committee members.
What are the main differences in the organization chart for a 600 room full service hotel compared to a 100 room select service hotel?
Assume that you are going to open your own 100 seat restaurant and bar. Draw the organization chart that you would use to set up your restaurant. Be sure to identify specific departments, the different levels of management that would be responsible for these departments, and who they would report
Based on the examples provided, draw an organization chart for a 100 room select service hotel. To help you in this exercise, identify the different operations in a hotel of this size and then draw the organization chart based on these operations or departments.
Explain the differences, advantages, and disadvantages of monthly P&L’s when compared to 28-day accounting period P&L’s.
What is the most important financial report for hotel department managers that is prepared monthly or each period by the accounting department?
Identify three types of operating/financial information that a corporate accounting office returns daily to a restaurant for its review and use.
Describe the operations and responsibilities of a Corporate Accounting Office.
What management position is responsible for all of the operations of a hotel?
What management position is responsible for delivering products and services every day to the guests?
Identify three areas of the accounting office and describe what their duties and responsibilities include.
Name the two operating departments and the four staff departments in a full service hotel.
The average annual sales per Red Lobster restaurant were approximately $3,800,000 in 2007 and $3,900,000 in 2008 and each restaurant will serve 150,000 to 225,000 customers per year. A typical Red Lobster restaurant will include four to five managers and 60 to 100 hourly employees referred to as
The following questions represent third step in the Financial Management Cycle– analyzing the numbers.a. For the Lumberjack Hotel, discuss the actual January performance including dollar and percentage change. Include comparisons of actual with both the budget and last year and identified
Calculate the cost and profit percentages for General Electric for the 2003 and 2002 years; 2002 $ 2003 $ 2003 % 2002 % $ 132,210 $ 134,187 Total Revenues 38,833 14,023 37,189 14,017 Cost of Goods Sold Cost of Services Sold Interest, financial charges Other costs & expenses 10,432 52,645 10,216
Following is the Revenue from Continuing Operations from the Marriott International 2003 Annual Report: (in millions)Requireda. Calculate the sales mix percentage for 2003, 2002, and 2001.b. Calculate the percentage change in revenue for each segment from 2003 to 2002.c. Calculate the percentage
The following financial information is from the Darden Restaurants 2003 Annual Report:Requireda. What are the total annual sales and how many total restaurants in 2003?b. Calculate the sales mix percentage for 2003.c. Calculate the restaurant unit mix percentage for 2003. Red Lobster Olive Garden
Following are the financial results for January, 2004 Lumberjack Hotel:Calculate the following:a. Dollar change for room revenue, actual to budget and last year.b. Percentage change in room revenue, actual to budget and last year.c. Dollar and percentage change for rooms sold, occupancy percent and
Discuss in two paragraphs, why trends are important and how you would use them to analyze the financial operations of a business.
Name the four types of tends used in financial analysis. Give examples.
Name the four types of percentage used in financial analysis. Give examples.
Discuss some of the important components of measuring change in financial analysis.
What is the difference between an annual budget and a pro forma?
Name five reports or financial documents the actual financial performance of a business is compared to.
Name the four steps in the Financial Management Cycle.
What are the two ways numbers are used in financial analysis? Give examples.
Match the financial statement with the description.______ Has opening and ending balances. A.
Match these equations______ Revenues - Expenses.
Match the following types of accounts to their balance sheet classification:_________ Accounts Payable. A. Current Asset_________ Cash.
What are the formulas for?a. Room revenueb. Occupancy %c. RevPAR Roomd. Profitse. Retention/Flow through
Why is the P&L Statement the most important financial statement for a hospitality manager to understand?
What are the three key measurements of the performance of a business?
Why is understanding accounting concepts and methods of financial analysis important to a hospitality manager?
What is the difference between capitalization and working capital? What is each used for in business operations?
Name and describe the four profit levels in a hotel.
Define REVPAR and explain why it is so important as a revenue measurement for room revenues as well as total hotel financial performance.
Name and describe the three main financial statement of a business. Include the characteristics of each financial statement.
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