1 / 8

Chapter 1

Chapter 1. A Strategic Managerial Accounting Perspective to Hospitality, Tourism & Events operations. Objectives. After studying this topic you should be able to : Understand the difference between managerial and other forms of accounting;

brina
Download Presentation

Chapter 1

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Chapter 1 A Strategic Managerial Accounting Perspective to Hospitality, Tourism & Events operations

  2. Objectives After studying this topic you should be able to: Understand the difference between managerial and other forms of accounting; Explain the main characteristics and feature of the hospitality, tourism and events businesses and their implication for accounting; Reflect on the way managers can utilise strategic management accounting information to aid planning, control and decision making.

  3. The differences between financial and management accounting

  4. Strategic Management accounting: extends management accounting as it is externally focused (market & competition) and extends from using financial data to incorporate non-financial data and is strategic in focus. Strategic management accounting is an accounting discipline. Strategic managerial accounting is the use by managers of strategic management accounting to support their decision making in a competitive environment. Hospitality , Tourism and Events interaction

  5. Hospitality , Tourism and Events interaction The combination of hospitality, tourism and events

  6. Customer provision combinations in hospitality, tourism and events

  7. Characteristics of hospitality, tourism, & events Fixed capacity Changeable demand Perishability Range of products and services offered Concurrent production and consumption A real time activity Business size Nature of labour Location implications Capital intensive Operating cost structure

  8. Summary Accounting and finance is split into three key areas (Financial accounting, Management accounting and Financial management). Management accounting provides managers with information to aid decision making. Strategic managerial accounting is the management use of a range of financial and non-financial data, with an external perspective for strategic decision making. The nature of hospitality, tourism and events provides a number of key characteristics that impact on appropriate managerial accounting techniques that are useful.

More Related