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business
introduction to management accounting

Questions and Answers of Introduction To Management Accounting

Explain the steps involved in guest check-in or registration.LO1
Explain the functions of the sales and marketing department.LO1
What is yield management? How is it undertaken?LO1
Explain the responsibilities of the executive housekeeper.LO1
Explain the steps involved in successfully managing an OPL operation.LO1
Differentiate between mislaid, lost, and abandoned items with examples.LO1
If it takes 30 minutes to clean a room, there are 120 rooms to be cleaned, and two housekeepers are assigned to each room, how many housekeepers are needed, provided that each works an eight-hour
How should a hotel manage lost or found items?LO1
Describe some of the security challenges hotels face.LO1
Understand the motivations behind dining at a hotel.LO1
Learn about the unique features of hotel foodservice.LO1
Understand the various types of hotels and the meal plans available.LO1
Understand the advantages and disadvantages behind leasing a hotel restaurant.LO1
Understand the organizational structure of a hotel’s food and beverage department.LO1
Learn about the various types of hotel restaurants.LO1
Learn the dynamics of banquets and catering operations.LO1
Learn about the various banquet service styles.LO1
Understand the advantages and disadvantages of room service.LO1
Understand the fundamentals of beverage management in hotels.LO1
Understand the significance of hotel bars.LO1
Appreciate the importance of the local food movement and how hotel food and beverage department is benefiting from it.LO1
Learn about the changing nature of hotel food and beverage operations.LO1
Discuss the differences between foodservice in hotel restaurants and commercial non-hotel restaurants.LO1
How are banquets beneficial to overall hotel profitability?LO1
What are the advantages and disadvantages of offering room service?LO1
If you were the F&B director of a large luxury property, would you include room service as one of the services of the F&B department? Justify your answer.LO1
What types of employees are employed in the F&B department of a hotel?LO1
How can hotel restaurants gain a competitive advantage?LO1
Do you favor limiting or reducing F&B services in hotels? Why or why not?LO1
Identify the various banquet styles. Which one is the most elegant?Which one is the least elegant?LO1
Describe the various tiers of alcoholic beverages in a bar. Explain the differences.LO1
What are the top three challenges involved in managing hotel room service?LO1
Describe the multiple impacts of tourism on local and national economies and outline what has caused travel and tourism to expand.LO1
List and describe the many types of tourism.LO1
Identify trends in modes of transportation, trip duration, and the hospitality industry and explain how the industry has changed.LO1
Provide statistics showing how tourism generates old and new forms of employment.LO1
Explain some effective strategies to increase tourism.Explain how current events shape tourism, including how tourism in turn shapes international development and trade.LO1
Identify markets and phenomena outside the hospitality industry that benefit or suffer from tourism, and explain trends that are changing how these factors interact with tourism.LO1
Describe the complexity of tourism by exploring the environmental, economic, cultural, and social impacts of the industry on regions in the United States and abroad.LO1
Understand how to travel more sustainably and responsibly.Understand how social media has influenced tourism.LO1
What is tourism, and which organizations does it include? What types of tourism are there?LO1
Identify some factors that are driving growth in tourism. What current events have altered or discouraged tourism?LO1
Why do people travel? How do communities encourage tourism?LO1
Which age groups travel most often, and what kinds of trips does each group take?LO1
Why is the United States a top tourism destination?LO1
Identify recent trends in automobile and airline travel, and explain what drives them. Provide examples of controversies that airlines have recently faced.LO1
How and where is tourism the most important economically to the United States? Explain.LO1
Describe some of the favorable and unfavorable noneconomic effects of tourism.LO1
How can we travel more sustainably and responsibly?LO1
How have social media impacted tourism?LO1
Explain demographic shifts that influence the increased interest in travel, including age, financial wherewithal, and attitudinal changes.LO1
Compare the motivating factors that influence travelers’destination choices by listing five motivations and the destinations that correspond to each motivation.LO1
Identify trends in destination travel and tourism that influence growth in the hospitality industry.LO1
Describe how the Internet and new technologies influence travel and tourism as an industry.LO1
Explain how the concept of sustainability impacts tourism practices.LO1
Describe the impact of national and international politics and safety issues on the tourism and hospitality industries.LO1
Determine the education requirements for employment in hospitality, identify career opportunities, and assess the employment outlook in the tourism and hospitality industries.LO1
What are some of the reasons people travel?LO1
What factors contribute to the ability to travel?LO1
What is the economic importance of the travel and tourism industry in the United States?LO1
What is the difference between primary and secondary destinations?LO1
Compare and contrast amusement parks and theme parks as destinations.LO1
What are the trends in shopping malls aimed at increasing the frequency of visits?LO1
Las Vegas is the most popular casino gambling destination in the United States. What other activities and attractions are offered in Las Vegas?LO1
How has online gambling impacted the industry’s growth?LO1
What are “staycations” and what role do they play in tourism trends?LO1
Why are national parks important to tourism in the United States?LO1
Describe a recent destination trip. Indicate whether the location was a primary or secondary destination. To which tourism categories did your spending contribute?LO1
Identify the various types of events.LO1
Account for the emergence and growth of the events industry.LO1
Understand current trends impacting the events sector and the delivery of events.LO1
Understand why cities are keen to host events.LO1
Describe the main advantages to host venues and the impacts of hosting events.LO1
Describe the risks of and barriers to hosting events.LO1
Understand how to engage communities and stakeholders in event production.LO1
Describe the sequence of actions associated with event planning.LO1
Understand how to set an objective for an event.LO1
Understand the importance of researching the audience for an event.LO1
Describe strategies for estimating the size of an audience.LO1
Understand the main factors to consider when deciding the venue of an event.LO1
Understand the importance of health and safety when hosting events.LO1
Understand how to undertake risk assessment for an event.LO1
Develop strategies for anticipating and mitigating risks.LO1
Explain the importance of budgets and financial planning to event planning.LO1
What social purposes do events serve? Give examples to illustrate your answer.LO1
Why do you think the economic contribution of events has grown so prominent?LO1
What are the major cultural, political, and social trends that determine the environment for events in the United States?LO1
How do you expect events to change in the coming years and why?LO1
What are the main responsibilities of event organizers with regards to health and safety?LO1
What is risk assessment and what methods can be used to undertake one?LO1
What are the main steps in developing a risk management plan?LO1
What is a work breakdown structure and how is one put together?LO1
What is the difference between a risk response matrix and a failure response matrix?LO1
What steps can be taken to ensure that an event is delivered on budget?LO1
What are some popular cost categories for an event?LO1
What is a green event? How would you organize a green event?LO1
Describe why accounting is fundamental to managing a hospitality business.L01
Understand the commonalities found across hospitality segments and how hospitality differs from other businesses.L01
Embrace the basic accounting principles.L01
Appreciate financial statements and the methods for analyzing data contained within them.L01

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