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The Blue Book is an ultimate guide for financial and management accounting in the hotel industry, and it is like no other. Some academic books for the hospitality industry do exist; however, as the term “hospitality industry” refers to lodging, food & beverage, event planning, transportation, and recreation, the industry is already complex on its own. It explains why such books do not conveniently cater to a hotel’s needs. Moreover, these books dedicate many pages to corporate financing, which has little or nothing to do with the property level. Although there are some ground rules within the hospitality industry, the hotel has its unique accounting procedures and techniques, and this is when this book plays a main role.With over twenty years of valuable experience with the best international hotel operators in six countries, the author shares the essential and practical knowledge and guidelines to build a strong Finance Division in hotels. Therefore, this book perfectly caters to all financial professionals, from the start of their careers to becoming finance leaders.The contents of this book are certainly comprehensive and thorough – highly relevant and easy to understand. This makes it suitable for financial professionals, stakeholders including division heads, general managers, auditors, owners, and owner’s representatives. All will greatly benefit from it. The Blue Book includes the following twelve parts that provide the most essential needed information to understand the hotel finance functions and to build a strong finance division:Part One: Basic AccountingPart Two: Revenue ManagementPart Three: Cost ManagementPart Four: Labor ManagementPart Five: Other Expenses GuidelinesPart Six: Financial AnalysisPart Seven: Budgeting and ForecastingPart Eight: Cash ManagementPart Nine: Hotel InvestmentsPart Ten: Hotel Management SoftwarePart Eleven: Financial Functions and SOPsPart Twelve: Parent-Child Chart of AccountsThis book uses the Uniform System of Accounts and GAAP as its main reference, ensuring that the information provided to the readers is the most updated and relevant version of the modern hotel industry.
The Blue Book: Financial and Management Accounting in the Hotel Industry is the definitive guide for financial and management accounting in hospitality. Unlike generic hospitality textbooks, this comprehensive resource focuses exclusively on hotel-specific procedures and techniques, making it the ultimate handbook for the lodging industry.
Drawing from twenty-five years of international hotel experience across six countries, the author provides essential knowledge for building strong Finance Divisions. This practical guide serves professionals at all career stages, from entry-level accountants to finance leaders seeking mastery in financial and management accounting.
The Blue Book’s twelve comprehensive parts cover critical functions: Basic Accounting, Revenue Management, Cost Management, Labor Management, Other Expenses Guidelines, Financial Analysis, Budgeting and Forecasting, Cash Management, Hotel Investments, Hotel Management Software, Financial Functions and SOPs, and Pre-Opening and Chart of Accounts.
Perfect for finance professionals, division heads, general managers, auditors, owners, and owner’s representatives, this book delivers highly relevant, easy-to-understand content. Using the Uniform System of Accounts for the Lodging Industry 11th Edition and GAAP as references, The Blue Book ensures readers receive current financial and management accounting practices essential for modern hotel operations and success.
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