David K. Hayes

Following a successful debut edition, this new Second Edition of Managerial Accounting for the Hospitality Industry builds on its strengths of clear organization and the ease with which students work through it. This new edition includes more basic math support for students and a more developed inclusion of ethical considerations and global changes both in accounting systems and in the hospitality industry.

Professional foodservice managers are faced with a wide array of challenges on a daily basis. Controlling costs, setting budgets, and pricing goods are essential for success in any hospitality or culinary business. Food and Beverage Cost Control provides the tools required to maintain sales and cost histories, develop systems for monitoring current activities, and forecast future costs. This detailed yet reader-friendly guide helps students and professionals alike understand and apply practical techniques to effectively manage food and beverage costs. Now in its seventh edition, this extensively revised and updated book examines the entire cycle of cost control, including purchasing, production, sales analysis, product costing, food cost formulas, and much more. Each chapter presents complex ideas in a clear, easy-to-understand style. Micro-case studies present students with real-world scenarios and problems, while step-by-step numerical examples highlight the arithmetic necessary to understand cost control-related concepts. Covering everything from food sanitation to service methods, this practical guide helps readers enhance their knowledge of the hospitality management industry and increase their professional self-confidence.

Managing Employees in Foodservice Operations Obtain and retain skilled, professional employees with this accessible guide A foodservice operation can only remain successful if its employees are served as well as its customers. Just as a business with no customers will fail for lack of revenue, one without skilled, professional, satisfied staff will be unable to provide service at the level customers demand. Attracting and retaining qualified staff is a critical challenge for the modern foodservice industry, and one which is only becoming more urgent in today’s market. Managing Employees in Foodservice Operations offers a uniquely foodservice-oriented guide to obtaining, training, and retaining employees in a fast-paced and highly competitive industry. The book provides: Content perfectly aligned with a two-year community college program courses in human resources, supervision, small business administration, or related subjects Detailed discussion of topics including workplace health and safety, recruitment and retention, and many more Ideas cultivated during the authors’ decades of combined experience in hospitality, foodservice, leadership, and research Material to support instructors conducting courses, including PowerPoints, chapter-by-chapter exam questions, and case studies Managing Employees in Foodservice Operations is ideal for students in foodservice-related courses, as well as professional business

Cost Control in Foodservice Operations Control operating costs and move your foodservice business forward The key to a foodservice business surviving and thriving is to properly understand the relationship between revenue, expenses, and profits. Controlling operating costs—that is, controlling expenses without reducing revenue—is a key tool in creating a profitable business. Owners, managers, and staff all play an essential role in controlling operating costs, and it’s critical for every member of a foodservice team to understand how to be successful. Cost Control in Foodservice Operations outlines key mechanisms and tools in a clear, accessible presentation. Emphasizing the importance of the subject before moving to specific methods for managing and reducing costs, it’s an indispensable tool for anyone in the foodservice industry looking to gain a competitive edge. The book also includes: A thorough introduction to controlling food and beverage product costsDetailed coverage of effective cost management methods including creating a sales forecast, controlling labor costs, pricing menu items, and moreAdvice based on the authors’ decades of combined experience in both foodservice business and education/research Cost Control in Foodservice Operations is ideal for students in foodservice-related courses, as well as professionals and owners looking to take their business to the next level.

Accounting and Financial Management in Foodservice Operations A concise and easy-to-follow guide to the principles of accounting and finance as they apply to running foodservice operations Accounting and Financial Management in Foodservice Operations is an up-to-date and straightforward treatment of the financial standards and concepts owners and operators need to successfully run a foodservice operation. Learn how to understand and assess the financial performance of a foodservice business by using professionally prepared financial reports. The book explains the Uniform System of Accounts for Restaurants (USAR), as well as how to read income statements, balance sheets, and statements of cash flows. It discusses how to calculate a break-even point and demonstrates pricing tips to help owner/operators create a profitable menu. Other contents include: A thorough introduction to controlling food and beverage product costsPractical discussions of how to manage the cost of labor and staffing, as well as how to prepare an accurate operating budgetHands-on strategies for comparing planned and budgeted operating results to actual financial results Perfect for students in foodservice-related courses, Accounting and Financial Management in Foodservice Operations will also benefit foodservice establishment owners and operators and professionals working in colleges, hospitals, nursing homes, and more.

REVENUE MANAGEMENT FOR THE HOSPITALITY INDUSTRY Explore intermediate and advanced topics in the field of revenue management with this up-to-date guide In the newly revised second edition of Revenue Management for the Hospitality Industry, an accomplished team of industry professionals delivers a comprehensive and insightful review of hospitality pricing and revenue optimization strategies. The book offers realistic industry examples from hotels, restaurants, and other hospitality industry segments that use differential pricing as a major revenue management tool. The authors discuss concepts critical to the achievement of hospitality professionals’ revenue management goals and include new examinations of the growing importance of effective data collection and management. A running case study helps students learn how to incorporate the revenue management principles and strategies included in the book’s 14 chapters. Written for students with some prior knowledge and understanding of the hospitality industry, the new edition also includes: A brand-new chapter on data analysis and revenue management that addresses many of the most important data and technology-related developments in the field, including the management of big data, data safety, and data securityIn-depth discussions of revenue management topics including Net Revenue Per Available Room, Direct Revenue Ratio, and other KPIsMajor changes to the book’s instructor support materials and an expansion of the instructor’s test bank items and student exercises. An indispensable resource for students taking courses in hospitality management or business administration, Revenue Management for the Hospitality Industry, Second Edition is also ideal for managers and executives in the hospitality industry.

The leading textbook on professional foodservice cost management — now fully updated and expanded Professional foodservice managers are faced with a wide array of challenges on a daily basis. Controlling costs, setting budgets, and pricing goods are essential for success in any hospitality or culinary business. Food and Beverage Cost Control provides the tools required to maintain sales and cost histories, develop systems for monitoring current activities, and forecast future costs. This detailed yet reader-friendly guide helps students and professionals alike understand and apply practical techniques to effectively manage food and beverage costs. Micro-case studies present readers with real-world scenarios and problems, while step-by-step numerical examples highlight the arithmetic necessary to understand cost control-related concepts such as calculating flow-thru and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). Now in its seventh edition, this extensively revised and updated textbook explains complex ideas in a clear, easy-to-understand style — from using baker's math to modify bakery product formulas to setting prices for limited availability products such as craft beers. New content explains calculating allowable processing fee deductions for server tips, the increasing popularity of e-wallets and online payments, the pros and cons of moving data to cloud-based servers, and much more. Covering everything from food sanitation and service methods to payment card and guest information data security, this comprehensive guide enables readers to: Increase their knowledge of the hospitality management industry and improve their professional self-confidenceUnderstand the entire cycle of cost control, including purchasing, production, sales analysis, product costing, and food cost formulasApply effective management techniques to increase efficiency and profitability in foodservice operationsDevelop practical skills such as creating management spreadsheets and employee schedules using popular software, cloud-based services, and smart-device applications

Human Resources Management in the Hospitality Industry, 2nd Edition helps today’s hospitality professional be an expert at managing many functions. In every segment of the hospitality industry, recruiting, selecting, orienting, training, and retaining outstanding staff members are always challenging tasks, but every manager must master them. Hospitality managers now need to be familiar with rising labor costs, increasing competition for quality staff, changing employees’ attitudes, evolving guest expectations and a proliferation of new laws that impact human resources policies and activities.

Revenue Management for the Hospitality Industry is filled with practical examples and best practices on the topic of revenue management, a critical aspect of the industry. Through numerous revenue management examples from the hospitality industry and a running case example throughout the book, students will discover how they can incorporate revenue management principles and best practices. The core of revenue management of a hospitality organisation is to, as the authors explain, "charge the right price, to the right customer, for the right product, through the right channel, at the right time." The book is intended for students with prior knowledge and understanding of the hospitality industry, and will explain what they need to know and how to be successful.

The complete, practical guide to managing the business side of a restaurant The success of a restaurant depends not only on great food and outstanding service, but also on sound financial management. Restaurant Financial Basics gives restaurant managers the financial knowledge and tools they need to understand, analyze, and report their restaurant’s finances accurately–and use that data to help run the business effectively. Written clearly and with a minimum of jargon, this down-to-earth guide focuses on the crucial information busy managers must know–for both day-to-day operations and long-term planning. It covers the full range of crucial basic accounting principles, including cash flow, pricing, budgeting, cost control, equipment accounting, and cash and revenue control. It completely demystifies the two most important financial statements for a restaurant business: the balance sheet and the income statement. Throughout, Restaurant Financial Basics offers valuable practical tools, including: *Manager’s Briefs that summarize critical accounting principles and practices *Ready-to-use forms for record-keeping and accounting *Easy checklists to help improve operations and planning *Web site resources for fast, up-to-date access to further information The Restaurant Basics Series provides restaurant owners and managers with expert advice and practical guidance on critical issues in restaurant operation and management. Written by leading authorities in their respective areas of expertise, these easy-to-use guides offer instant access to authoritative information on every aspect of the restaurant business and every type of restaurant–independent, chain, or franchise.

How to avoid legal liability and prevent costly litigation You’re notified that your restaurant is being sued: what should you do? A guest is choking in your restaurant’s dining room: are you required to assist? If the assistance causes further injury, who is responsible? Your franchiser demands to see daily receipt totals: can you say no? Restaurant Law Basics prepares you to make the right decisions in these critical situations and hundreds of others. To avoid costly legal problems in your restaurant, begin with step one: read Restaurant Law Basics. This completely practical, jargon-free guide gives you the tools you need to protect your restaurant from legal exposure of every kind. It prepares restaurant managers to comply with the law and avoid or limit liability in virtually any situation–—from hiring and managing employees and dealing with customer complaints to ensuring safety and security, obeying regulatory requirements, and much more. Restaurant Law Basics features: *Manager’s Briefs that focus on critical legal aspects of your operations *Realistic scenarios that are analyzed to help prepare you to make the right decisions in challenging situations *Checklists to help you avoid liability before any incident occurs *A companion Web site that provides additional resources, training assistance, and more The Restaurant Basics Series provides restaurant owners and managers with expert advice and practical guidance on critical issues in restaurant operation and management. Written by leading authorities in each field, these easy-to-use guides offer instant access to authoritative information on every aspect of the restaurant business and every type of restaurant–—independent, chain, or franchise.