Questions and Answers of Accounting Financial Analysis

Define division, brand, and concept, and explain why they are important in discussing company operations.
The company financial information is verified by an internal body and an external body. Name them.
Name two types of government agencies or organizations that monitor the financial information contained in Corporate Annual Reports.
1. Refer to the hotel organization chart in Chapter 3. Prepare an organization chart for the Marco Island Marriott Beach Resort including all the different revenue departments.There are more than a
Why are weekly forecast so important to managing a business profitability?
List three important wage ratios.
What is the formula for forecasting hourly wage expense?
What are the formulas for room revenue forecasts and restaurant revenue forecasts?
Name the seven steps in the forecasting time line.
Define fixed and variable wage expenses and give two examples of wage positions in each category.
Why is volume so important in forecasting?
Name two ways that weekly forecasts are different from monthly or quarterly forecasts.
From the above information and the Web site, list the revenue department budgets that you think the Radisson Resort Fort McDowell reviews each year. Be specific.Make a list of at least five pieces of
Prepare the annual operating expense budget for the next year using the formulas from problem #1 and the following assumptions: Remember there are 13 accounting periods in a fiscal year, each with
There are two budget problems to complete. The first is to calculate amounts to use in budgeting based on actual information and formulas. The second is to prepare an annual budget based on that
How is a budget used to evaluate actual financial performance?
Name and describe the three main ways to prepare an operating budget.
Name five ways to budget direct operating expenses.
What is the difference between a consolidated hotel budget and a department operating budget?
Name five characteristics of a capital expenditure budget.
Why is a capital expenditure budget important, and how do hospitality managers use it in operating their departments?
Name five characteristics of an annual operating budget.
Why is the annual operating budget one of the most important financial reports a hospitality manager should know, understand and use?
1. Name five resorts that you would include as the competitive set for the Hyatt and explain why.2. How do you think the location of the Hyatt in expensive Scottsdale affects the wage costs for the
Calculate the following rations from the following information sheet and balance sheet.Activity ratiosOperating ratiosLiquidity ratiosProfitability RatiosSolvency ratiosFlagstaff Marriott Hotel –
How is the STAR used in the operation of and financial analysis of a hotel?
What key information is provided in the STAR market Report?
Discuss the relationship of the four elements that make up the foundation of financial analysis and why they are an important part of variation analysis.
Name one important ratio from each of the five ratio classifications and tell why you think it is important in financial analysis. (These are examples, students can choose any ratio as long as they
Define variation analysis, and tell why it is an important tool in financial analysis.
What is the impact of different department profit percentages on total hotel profits?
Name two important variables for controlling expenses.
Name two important variables for maximizing revenues.
1. What and why do you think the two biggest market segments are for Fairmont Maui Resort?2. What effects will each of your market segments have on maximizing total resort? revenue? Give at least one
Discuss at least three Revenue Management terms that would be used primarily in a 1,000 room convention hotel and three Revenue Management terms that would be used primarily in a 400 room airport
For this same hotel and the rate structure that you developed in question 1, answer the following questions:a. What days of the week do you think demand would be the strongest?b. For those dates,
The corporate rate at a 600 room downtown east coast hotel is currently $199. The owner would like to see a small increase in the room rates for next year. Put together a room rate structure with at
What selling strategy should a hotel implement when the booking pace is over the historical average pace?
What selling strategy should a hotel implement when the booking pace is under the historical average?
Who is on a hotel’s selling strategy team? Which one is the most important?
How is the booking pace used with the historical average in yield management?
What is DOA and why is it such an important part of yield management?
Explain the relationship between room rates and market segments.
Why is understanding and using RevPAR information so important to maximizing total room revenue?
What are the two formulas for RevPAR?
How many Revenue Departments do you think are included in the Daily Four Seasons Scottsdale Resort's Revenue Report? Name them.List the departments that prepare weekly wage forecasts that the
Calculate the actual retention/flow through in dollars and percent.Actual retention/flow through dollars_______________.The difference between actual and budget profit dollars $ 1,170,000 minus $
Calculate the actual and budget department profit margins (remember profit margins are percentages) for the following hotel departments: Actual Budget $ 1,250,000 $ 1,200,000 Room Revenues 215,000
List three formulas for calculating labor productivities and three for calculating wage cost percentages.
Define incremental. How is it used in financial analysis?
How do department managers use retention and flow through to manage their departments?
Define retention and flow through. Why are they important?
Explain how fixed and variable wage expenses are used to maintain labor productivity standards.
Explain how fixed and variable wage expenses are used to maintain labor productivity standards.
What information does the Daily Revenue Report contain and how does a hospitality manager use it?
Compare the format of a P&L Statement with a Daily Revenue Report. What is the same and what is different?
Imagine you were a Pappadeaux manager and think about the following questions relating to your Balance Sheet and Statement of Cash Flows:1. How is building and opening a 400+ seat Pappadeaux
Following is the Balance Sheet in $ for the GTO Hotel: Answer the following:______ What is the working capital amount?______ What is the total capitalization amount?______ What is the
Which of the following accounts are part of working capital and which are a part of capitalization?A. _____ Accounts payable.
Name three changes in Balance Sheet accounts that area source of funds and three that are a use of funds.
Name the three classifications of cash flows
List five characteristics of the Statement of Cash Flow.
Compare and contrast liquidity with profitability.
List five characteristics of the Balance Sheet.
What accounts on the Balance Sheet will hospitality managers generally use in the daily operations of their departments?
Describe working capital and capitalization, and explain what each is used for. Include the Balance Sheet accounts that are used in each process.
Explain the financial information contained in a Balance Sheet and explain how it is used.
Springhill Suites and Residence Inn properties complement each other by providing different experiences for travelers. Visit www. chicagorivernorthhotel.com to view more information on these new
Draw the format for a Department P&L using the three sections in review questions 4.
Draw the format for a Consolidated P&L using the three sectons in review question 4.
Match the line account or classification to the appropriate P&L.A. _________ Hourly wage cost 1. Consolidated P&L.B. _________ Linen expense
Why do you think this is the most important chapter in this book?
Refer to the hotel organization chart in Chapter 3. Identify at least one hotel department that each Executive Committee Member is responsible for.Data from Chapter 3 General Manager Assistant
What is a line account and why is it important in financial analysis?
Explain the differences between a Profit Center and Expense Center. Give examples.
Name the three sections for the format for a P&L.
Name and describe four different profit levels and what they measure.
Define and name the five main revenue and expense categories contained in a Department P&L.
Define and name the four main classifications of accounting information contained in a Consolidated P&L.
What management positions do you think are for 12 months and what positions.
To whom would you have the Director of Golf reporting to and why?
With 135 rooms, would you recommend one Director of Operations or would you distribute those responsibilities between the Director of Rooms Operations and the Director of Food and Beverage? Why?
Draw the organization chart for the Otesaga Resort Hotel, including the Executive Committee that reports to the General Manager and the different department heads that report to the Executive
What are the main differences in the organization chart for a 600 room full service hotel compared to a 100 room select service hotel?
Assume that you are going to open your own 100 seat restaurant and bar. Draw the organization chart that you would use to set up your restaurant. Be sure to identify specific departments, the
Based on the examples provided, draw an organization chart for a 100 room select service hotel. To help you in this exercise, identify the different operations in a hotel of this size and then draw
Explain the differences, advantages, and disadvantages of monthly P&L’s when compared to 28-day accounting period P&L’s.
What is the most important financial report for hotel department managers that is prepared monthly or each period by the accounting department?
Identify three types of operating/financial information that a corporate accounting office returns daily to a restaurant for its review and use.
Describe the operations and responsibilities of a Corporate Accounting Office.
What management position is responsible for all of the operations of a hotel?
What management position is responsible for delivering products and services every day to the guests?
Identify three areas of the accounting office and describe what their duties and responsibilities include.
Name the two operating departments and the four staff departments in a full service hotel.
The average annual sales per Red Lobster restaurant were approximately $3,800,000 in 2007 and $3,900,000 in 2008 and each restaurant will serve 150,000 to 225,000 customers per year. A typical Red
The following questions represent third step in the Financial Management Cycle– analyzing the numbers.a. For the Lumberjack Hotel, discuss the actual January performance including dollar and
Calculate the cost and profit percentages for General Electric for the 2003 and 2002 years; 2002 $ 2003 $ 2003 % 2002 % $ 132,210 $ 134,187 Total Revenues 38,833 14,023 37,189 14,017 Cost of Goods
Following is the Revenue from Continuing Operations from the Marriott International 2003 Annual Report: (in millions)Requireda. Calculate the sales mix percentage for 2003, 2002, and 2001.b.
The following financial information is from the Darden Restaurants 2003 Annual Report:Requireda. What are the total annual sales and how many total restaurants in 2003?b. Calculate the sales mix
Following are the financial results for January, 2004 Lumberjack Hotel:Calculate the following:a. Dollar change for room revenue, actual to budget and last year.b. Percentage change in room revenue,

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