A complete guide to using key managerial accounting techniques for planning, controlling and improving profitability at the business property level - the "cutting-edge" of routine decision making. Extended edition now includes a major new section Step-by-Step: Quantitative analysis of... cost functions in hotels & restaurants.Unlock your full potential with this revision guide that will guide you through the content and skills you need to succeed in the OCR GCSE Food Preparation and Nutrition exam.
Profit Planning is ideal for practicing managers, entrepreneurs, accountants and financial controllers engaged in the hospitality and tourism sectors and for students of hospitality and tourism management interested in applying theory to practice. In particular, the content provides a complete guide to key managerial accounting techniques at the property level - the "cutting-edge" of day-to-day business decisions. This extended edition includes:*New bullet point format, allowing the reader to `dip into' specific methods and techniques; *New research & developments applicable to practitioners at the property (business unit) level;*New chapters, such as cost structure, incorporating the author's profit planning framework implemented in numerous hotel and tourism organisations;*A new chapter on comparing & benchmarking performance for monitoring results against competitive set; *A new chapter on customer profitability analysis for identifying customer profiles in terms of profit contributors and loss-makers;*Extensive revision of chapters, such as financial statements, flexible budgets and pricing;* Revised edition now includes a major new section Step-by-Step: Quantitative analysis of cost functions in hotels & restaurants. A concise guide to improving the accuracy of cost estimates for routine competitive bidding and transaction negotiation, where lost margins lie; enabled by software e.g. Excel. An essential tool for all those in industry.Written in a user-friendly style, with a minimum of theory and technical jargon, it assumes readers already have a basic knowledge of accounting and financial statements.Exam Board: OCR Level: GCSE Subject: Food Preparation First Teaching: September 2016 First Exam: Summer 2018Unlock your full potential with this revision guide that will guide you through the content and skills you need to succeed in the OCR GCSE Food Preparation and Nutrition exam.- Plan your own revision and focus on the areas you need to revise with key fact summaries and revision activities for every topic- Use the exam tips to clarify key points and avoid making typical mistakes- Test yourself with end-of-topic questions and answers and tick off each topic as you complete it- Get exam ready with tips on approaching the paper, sample exam questions with model answers and commentary, and last-minute quick quizzes at www.hoddereducation.co.uk/myrevisionnotes
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