Basic Management Accounting for the Hospitality Industry - Second edition 2016

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Basic Management Accounting for the Hospitality Industry - Second edition 2016
Chapter 7

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Hospitality managers use ratios mainly to help them

	evaluate the attainment of their objectives and monitor their performances
	clarify why the guests may not be loyal
	recognize specific problems and the solutions to them
	verify the effectiveness of the competition

	the operating efficiency and the asset use efficiency
	the operating efficiency and the equity multiplier
	the asset use efficiency and the equity multiplier
	the financial leverage and the equity multiplier

	the owners, the creditors and the management
	the creditors, the department heads and the management
	the suppliers, the creditors and the management
	the owners, the suppliers and the management

	multiplying the paid occupancy percentage by ADR
	dividing the paid occupancy percentage by the ADR
	dividing the ADR by the paid occupancy percentage
	multiplying the paid occupancy percentage by the number of rooms occupied

	the difference between the current assets and the current liabilities is the same amount as the current liabilities
	the current liabilities are two times the current assets
	the current assets are used twice faster than the current liabilities
	the current liabilities will be paid back at two times the normal rate

	government set standards
	averages of the industry
	planned ratios from the budgets
	ratios from past performances

	the cost of food used by average food inventory
	the annual food costs by the number of days in the year
	the average food inventory by the cost of food used
	the food inventory at the beginning of the period plus the food inventory at the end by two

	in the performance review process the past is always relied on as a good predictor of the future
	a performance review is generally undertaken using a standard format and methodology
	the most effective performance review is provided from a balanced view of each of the activities of the organization
	a performance review using financial statements may be undertaken to identify possible takeover targets

	the operating efficiency, the asset use efficiency, and the equity multiplier
	the asset use efficiency, the financial leverage, and the equity multiplier
	the operating efficiency, the financial leverage, and the equity multiplier
	the operating efficiency, the profit margin, and the asset use efficiency

	solvency
	activity
	efficiency
	liquidity

	profitability
	activity
	liquidity
	solvency

	17.4%
	11.5%
	14.1%
	16.2%

	1.5 times
	0.75 times
	0.67 times
	1.33 times

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