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Summary Finance IHM HOP year 1
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Notes and summary of all lectures in managerial accounting and revenue management (Rooms Division and F&B)
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Content:Managerial accountng
1. Income statement
2. Budgetng and vari ance analys s
3. Pri c ng elastc ty as c & riooms pri c ng
4. Pri c ng k nds of elastc ty and pri c ng striateg es
5. Brieak even analys s
6. Cost allocaton
7. F nanc al analys s techn ques
Revenue management
1. Food and beverage
. Food cost
. Menu eng neeri ng
. Menu m x
2. Diferencee bew een FB and roos divi ion
3. Forsula in RD
Manageri al Accountng
1: income statement
Revenue
Co w
-------------------- -
Inceose (profiw or lo e )
Gro revenue: Revenue sinu VAT (6% or 21%)
Ca h: alancee heew , cea h fo wawesenw
Gain: inceidenwal profiw
Sale (revenue ):
- Type : Roos / FB / Owher
- Mix of ale = ((wype of ale )/ wowal ale ) x 100%
Co w :
- Operating expen e (deparwsenwal)
o Connecewed wo deparwsenw (FB , Roos )
Cofee sacehine, roos
- Overhead expen e (undi wribuwed)
o Overall expen e for all whe deparwsenw
uilding, sainwenancee, sarketing, HRM, Salary GM
- Fixed ceharge
, o Inwere w, renw resain whe ase all year
Profiw (or inceose)
- Gro profiw = revenue – ceo w of ale (FB deparwsenw)
o Food gue w diferencee = gro profiw
- Deparwsenwal profiw
o Owher deparwsenw
- New profiw
o ottos line afer whe waxe
USALI format (uniform system Accounts for Lodging Industry)
Deparwsenwal ale
- Operating expen e (direcewly linked wo depw)
= wowal deparwsenwal inceose (Roos + FB + owher )
- Undi wribuwed expen e (= overhead)
= Gro operating profiw (G.O. .)
- Fixed ceharge (fixed asounw per period Brelawed wo producetion ceapaceiwy)
= New inceose before waxe
- Inceose waxe
= New inceose afer waxe
2: udgeting and variancee analy i
alanceed budgew, revenue hould ceover whe ceo w
Cau e of rong forecea w:
o Lo er revenue; f.e. ceospetition, bad revie , pricee per roos difer
Rea on budgew:
- Profiwt
- Co w ceonwrol
- Planning (f.e. esployee you need, ho sany invenworie you need)
- Perforsancee evaluation
Variancee analy i :
Cosparing budgew iwh acewual ale or ceo w
Variancee = diferencee bew een budgew and acewual
o Nusber of gue w
o ADR
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