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Study sets matching "hospitality finance"

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Study sets matching "hospitality finance"

32 terms
Hospitality Finance
Factors affecting menu pricing (9)
Total Revenue =
The ____/_____ relationships reflects…
In a sales approach to marketing, the…
local competition, service levels, guest type, product qualit…
Price * Number sold
Price/Value
maximize
Factors affecting menu pricing (9)
local competition, service levels, guest type, product qualit…
Total Revenue =
Price * Number sold
17 terms
Hospitality Finance
GAAP
IFRS
full disclosure principle
revenue recognition principle
Generally Accepted Accounting Principles
International Financial Reporting Standards
all potential events that could impact a company's financial…
revenue should be recorded in the month they are earned, not…
GAAP
Generally Accepted Accounting Principles
IFRS
International Financial Reporting Standards
16 terms
Hospitality Finance Chapter 6
types of capital
cost of capital
WACC
financial leverage
debt: fixed obligation/liability of the business that must be…
cost of debt: interest expense the borrower is obligated to p…
weighted average cost of capital
equity and the relationship to debt
types of capital
debt: fixed obligation/liability of the business that must be…
cost of capital
cost of debt: interest expense the borrower is obligated to p…
10 terms
Hospitality Finance Chapter 5
EBITDA
EPS
multiple
IPO
earnings before interest, income taxes, depreciation, and amo…
earnings per share
relationship between earnings per share and the current marke…
initial public offering
EBITDA
earnings before interest, income taxes, depreciation, and amo…
EPS
earnings per share
22 terms
Hospitality Finance chapter 1
Accounting
revenue
expense
profit
process of recording financial transitions, summarizing them,…
the money you take in
cost of the items required to operate the business
dollars that remain after all expenses have been paid
Accounting
process of recording financial transitions, summarizing them,…
revenue
the money you take in
264 terms
Hospitality Finance Exam 1
The three major decisions in financial…
The most common form of business organ…
The shareholders of a ________________…
The goal of hospitality financial mana…
Investing, financing, and dividend decisions
Sole proprietorship
Corporation
Maximize the wealth of the owners
The three major decisions in financial…
Investing, financing, and dividend decisions
The most common form of business organ…
Sole proprietorship
44 terms
Hospitality Finance Final
Sole Proprietorship
Partnership
Limited Liability Corporation
Corporation
most common form ... easy to start... have all the liability (unlim…
shared unlimited liability
the individuals who start/invest in LLC are not at risk... only…
double taxation... hard to start
Sole Proprietorship
most common form ... easy to start... have all the liability (unlim…
Partnership
shared unlimited liability
33 terms
Hospitality Finance Exam 2
Income Statement
Operating expenses
Unallocated Expenses
Bottom Line
AKA profit/loss statement... -provides operating results over a…
Payroll, COGS, Marketing, Repair and maintenance, Training an…
Property taxes, utilities, GM wages, insurance, depreciation.
Revenues - expenses
Income Statement
AKA profit/loss statement... -provides operating results over a…
Operating expenses
Payroll, COGS, Marketing, Repair and maintenance, Training an…
28 terms
Hospitality Finance Test 2
RevPar Index
comp set
comp set rules
Why use STAR reports
my revpar/comp set revpar
similar hotels... hotels in close proximity... can include/exclude…
must be 4 or more hotels in comp set... no more than 40% of room…
benchmarks performance... allows you to keep an eye on comp set/…
RevPar Index
my revpar/comp set revpar
comp set
similar hotels... hotels in close proximity... can include/exclude…
16 terms
Hospitality Finance Test 1
Uniform System of Accounts (USALI)
Goal of Financial Management
Agency Relationship
Fixed Expenses
-makes sure industry all categories things the same for budge…
maximize wealth or shareholders investment or owners... minimize…
3rd party, brand and owner all different... occasionally brand a…
real estate taxes... property insurance... interest... management fees…
Uniform System of Accounts (USALI)
-makes sure industry all categories things the same for budge…
Goal of Financial Management
maximize wealth or shareholders investment or owners... minimize…
15 terms
Hospitality Finance Quiz
hurdle rate
WACC
pay back period
internal rate of return
investor's return on investment target
weighted average cost of capital
amount of time a project needs to pay back or cover its initi…
discount rate that makes the present value or a cash flowing…
hurdle rate
investor's return on investment target
WACC
weighted average cost of capital
8 terms
Hospitality Industry Finance
Investment
Stockholders's Equity
Investment
Long term debt
"giving u spending today to earn something better/more in the…
Common stock... Prefer stock... treasury stock... retained earrings
People defer their present consumption in hopes of increased…
long-term debt generally refers to a company's loans and othe…
Investment
"giving u spending today to earn something better/more in the…
Stockholders's Equity
Common stock... Prefer stock... treasury stock... retained earrings
36 terms
Hospital Finance (Ch.1-2)
balance sheet (7 items)
accounting equation
These (3) elements should always be in…
Who are the (5) biggest payers?
1. cash... 2. accounts receivable... 3. inventory... 4. prepaid expens…
assets = liabilities + net assets... assets - liabilities = net…
1. name of accounting entity... 2. name of statement... 3. period o…
1. private insurance... 2. Medicare (aged population)... 3. Medicai…
balance sheet (7 items)
1. cash... 2. accounts receivable... 3. inventory... 4. prepaid expens…
accounting equation
assets = liabilities + net assets... assets - liabilities = net…
19 terms
Hospital Finance (Ch. 3-4)
Journal
4 examples of journals:
To determine year-end account balances…
The process of making a transfer from…
The debit and credit analysis that will be recorded initially…
1. General journal... 2. Revenue journals ... 3. Cash receipt journ…
ledger
a posting
Journal
The debit and credit analysis that will be recorded initially…
4 examples of journals:
1. General journal... 2. Revenue journals ... 3. Cash receipt journ…
12 terms
Hospital Finance (Ch.5-6)
Because prepaid cost expenditures bene…
(3) Prepaid expenses may include:
The liability for future disbursements…
(5) Examples of Accrued Expenses:
assets
1. Prepaid Insurance... 2. Prepaid Interest... 3. Prepaid Rent
accrued liability
1. Accrued Interest... 2. Accrued Salaries and Wages... 3. Accrued…
Because prepaid cost expenditures bene…
assets
(3) Prepaid expenses may include:
1. Prepaid Insurance... 2. Prepaid Interest... 3. Prepaid Rent
12 terms
CHS Intro to Hospitality Unit 7 -Price/Finance
Breakeven point -
Capital -
Corporation -
Direct operating expenses -
where revenue, the money from sales, equals the cost of runni…
the money needed to run a business
a business that is registered or charted by a state and is ow…
expenses that can be directly attributed to a department such…
Breakeven point -
where revenue, the money from sales, equals the cost of runni…
Capital -
the money needed to run a business
26 terms
Hospitality industry finance final exam hft4464
Describe the meaning of "investment"
Explain why three month treasury bonds…
List the components of the stockholder…
Describe the nature of Long - term deb…
Any material that can bring and growth its value in time.... ... "…
time is shortest bc the shortest time your money is away from…
Shareholders equity... stocks= paid in capital by the shareholde…
true investment activity threw financing... liability items show…
Describe the meaning of "investment"
Any material that can bring and growth its value in time.... ... "…
Explain why three month treasury bonds…
time is shortest bc the shortest time your money is away from…
58 terms
HFT3424 Fall 2016 Exam 3 (Hospitality Finance- Farr)
Yield Systems
RevPAR (Revenue per Available Room)
RevPAR
RevPAR is measured in...
Contains historical information organized by day of arrival (…
(Total Room Revenue)/(Total Available Rooms)
Occupancy Percentage X Average Room Rate
Dollars and Cents
Yield Systems
Contains historical information organized by day of arrival (…
RevPAR (Revenue per Available Room)
(Total Room Revenue)/(Total Available Rooms)
10 terms
Personal Finance
credit
debit
investing
loan
An arrangement to buy now and pay later.
A sum withdrawn or subtracted from an account.
using your savings to earn more money
Borrowed money that must be repaid
credit
An arrangement to buy now and pay later.
debit
A sum withdrawn or subtracted from an account.
31 terms
Personal Finance
bankrupt
commission
credit bureau
creditor
When a business, or person, is unable to pay her or his debts.
The percentage of a sales price received by a salesperson for…
An organisation that keeps on file the credit records of cons…
A person who is owed money.
bankrupt
When a business, or person, is unable to pay her or his debts.
commission
The percentage of a sales price received by a salesperson for…
16 terms
Personal Finance
credit
debit
investing
loan
An arrangement to buy now and pay later.
A sum withdrawn or subtracted from an account.
using your savings to earn more money
Borrowed money that must be repaid
credit
An arrangement to buy now and pay later.
debit
A sum withdrawn or subtracted from an account.
16 terms
Personal Finance 2.01
Eric Thomas helps me to work
Needs
These are examples of a need
Wants
harder
What you must have in order to survive
food, water,shelter and air
What you desire to have but you do not need to survive
Eric Thomas helps me to work
harder
Needs
What you must have in order to survive
11 terms
Finance
VAT (Value added tax)
Pricing Policy
Profit and Loss Account
Gross Profit Margin
a consumption tax added to a products sale price
refers to the way a company sets the prices of its services a…
an account in the books of an organisation to which incomes a…
a financial metric used to assess a company's financial healt…
VAT (Value added tax)
a consumption tax added to a products sale price
Pricing Policy
refers to the way a company sets the prices of its services a…
61 terms
Focus on Personal Finance: Chapter 9
health insurance
group plans
the health insurance portability and a…
group policy supplements
- eases the financial burden people may experience as a resul…
- covers most individuals... - usually employer-sponsored... - empl…
- federal portability standards... - if you change jobs you need…
coordination of benefits = benefits received from all sources…
health insurance
- eases the financial burden people may experience as a resul…
group plans
- covers most individuals... - usually employer-sponsored... - empl…
15 terms
Managing Operational Finance
Financial Reporting Center
Income Statement
Balance Sheet
Formula for Cost of Sales
an area of responsibility for which separate revenue and cost…
a financial statement that gives operating results for a spec…
a record of the financial situation of an institution on a pa…
Beginning Inventory + Purchases - Ending Inventory = Cost of…
Financial Reporting Center
an area of responsibility for which separate revenue and cost…
Income Statement
a financial statement that gives operating results for a spec…
23 terms
Personal Finance Chapter 3
adjusted gross income (AGI)
adjustments to (gross) income
amended return
average tax rate
The amount of income remaining after subtracting all allowabl…
Allowable deductions from gross income, including certain emp…
A tax return filed to adjust for information received after t…
The rate at which each dollar of taxable income is taxed on a…
adjusted gross income (AGI)
The amount of income remaining after subtracting all allowabl…
adjustments to (gross) income
Allowable deductions from gross income, including certain emp…
142 terms
Finance Key Terms "Final"
Current Ratio
Fee for Service
Pre-Determined Per-Person Payment
Bad Debt Expense
Current Assets/Current Liabilities :: (tip: higher the better)
Traditional U.S. method of receiving revenue for services; th…
Payment received before service is delivered, generally at a…
An expense that occurs when people CAN pay their bills, but s…
Current Ratio
Current Assets/Current Liabilities :: (tip: higher the better)
Fee for Service
Traditional U.S. method of receiving revenue for services; th…
152 terms
Hospitality 1350 Test #3
Airline-Related Guests
Airport Hotels
All-Suite Hotel
Budget Hotels
Airplane crew members; airline passengers needing emergency a…
Full-service hotels built near airports
A hotel that features units made up of two connected hotel ro…
A type of limited-service hotel. Budget hotels have low const…
Airline-Related Guests
Airplane crew members; airline passengers needing emergency a…
Airport Hotels
Full-service hotels built near airports
25 terms
Hospitality Accounting - Chapter 2
Alternative revenue source (ARS)
Benchmark
Benefit
Brand
generates money in addition to that raised from other funding…
descriptions of desired performance
the advantage or favorable results obtained from purchasing t…
is a term that describes an establishments distinguishing fea…
Alternative revenue source (ARS)
generates money in addition to that raised from other funding…
Benchmark
descriptions of desired performance
22 terms
CAPP Personal Finance Chapter 11-
Coordination of Benefits
Hospital Expense Insurance
Surgical Expense Insurance
Physician Expense Insurance
A method of integrating the benefits payable under more than…
Pays part or all of hospital bills for room, board, and other…
Pays part or all of the surgeons fees for an operation.
Provides benefits for doctors fees for nonsurgical care, X ra…
Coordination of Benefits
A method of integrating the benefits payable under more than…
Hospital Expense Insurance
Pays part or all of hospital bills for room, board, and other…
20 terms
Principles of Business and Finance Lesson 20 Vocabulary
bodily injury liability
medical payments
uninsured motorist
property damage liability
insurance that protects a driver from claims resulting from i…
insurance that covers policyholders and family members if the…
protection against hit-and-run drivers or drivers without ins…
insurance that protects a driver against claims if the insure…
bodily injury liability
insurance that protects a driver from claims resulting from i…
medical payments
insurance that covers policyholders and family members if the…
11 terms
Income Taxes- Personal Finance (Erin)
Income
W-4 Form
W-2 Form
Wages
Money earnings from work
A form for tax deductions that you fill out BEFORE you start…
Given to employees by the end of January; shows an employee's…
Income received
Income
Money earnings from work
W-4 Form
A form for tax deductions that you fill out BEFORE you start…
18 terms
Finance
Sectors first incorporated into health…
Patient-based funding (rather than glo…
Patient based funding includes:
Health Based Allocation Method - used…
- Hospitals ... - Community Care Access Centres ... - LTCH
- Disease, Diagnosis... - Treatment, Acuity
- Health-based allocation method (40%)... - Quality-based proced…
- cost ... - volume ... - types of patients & providers
Sectors first incorporated into health…
- Hospitals ... - Community Care Access Centres ... - LTCH
Patient-based funding (rather than glo…
- Disease, Diagnosis... - Treatment, Acuity
29 terms
Personal Finance TC Chapter 9
Risk Pooling
Premium
Actuaries
Policyholder or Policy Owner
A basic principle of insurance whereby a large number contrib…
payment for insurance
statisticians who specialize in estimating the probability of…
The individual or business that owns the life insurance policy
Risk Pooling
A basic principle of insurance whereby a large number contrib…
Premium
payment for insurance
32 terms
Personal Finance Insurance and Taxes
Risk
Premium
Uninsured or Underinsured Motorist Ins…
Health Insurance
Degree of uncertainty of return on an asset; in business, the…
A specific sum of money paid by the insured to the insurance…
Covers injury or damage to the driver, passangers, or the veh…
-The purpose of HIPAA was to increase the ease w/ which peopl…
Risk
Degree of uncertainty of return on an asset; in business, the…
Premium
A specific sum of money paid by the insured to the insurance…
51 terms
finance 450 exam 3
things that kill returns
holding period return (HPR) is also ca…
inflation
nominal rates are __ for inflation
losses... inflation... taxes... transaction costs
total return
increasing prices over time... approximated by CPI... computed by B…
unadjusted
things that kill returns
losses... inflation... taxes... transaction costs
holding period return (HPR) is also ca…
total return
18 terms
Personal Finance Chapter 9
Life Insurance protects your family if…
An addition; a provision of an insuran…
Term Insurance
Cash-valued insurance
Why might you own life insurance?
What is a rider?
pure life insurance that pays beneficiary a specific amount o…
has a life insurance and a savings plan; permanent - pay the…
Life Insurance protects your family if…
Why might you own life insurance?
An addition; a provision of an insuran…
What is a rider?
18 terms
Banking and Finance - Chapter 14
Health Insurance
Coinsurance
stop-loss
co-payment
a form of protection that eases the financial burden people m…
the percentage of the medical expenses the policy holder must…
an insurance policy provision that requires the policyholder…
a flat-fee that you pay every time you receive a covered serv…
Health Insurance
a form of protection that eases the financial burden people m…
Coinsurance
the percentage of the medical expenses the policy holder must…
15 terms
Personal Finance Chapter 9
basic health insurance coverage
hospital expense insurance
deductible
surgical expense insurance
Hospital expense insurance, surgical expense insurance, and p…
Pays par or all of hospital bills for room, board, and other…
An amount the insured must pay before benefits become payable…
Pays part or all of the surgeon's fees for an operation
basic health insurance coverage
Hospital expense insurance, surgical expense insurance, and p…
hospital expense insurance
Pays par or all of hospital bills for room, board, and other…
12 terms
Finance
Coinsurance
Copayment
Deductible
Exclusions
a type of insurance in which the insured pays a share of the…
A co-payment or copay is a fixed payment for a covered servic…
1. a specified amount of money that the insured must pay befo…
an item or risk specifically not covered by an insurance poli…
Coinsurance
a type of insurance in which the insured pays a share of the…
Copayment
A co-payment or copay is a fixed payment for a covered servic…
16 terms
Year 11 Work Studies - Personal Finance
Tax File Number (TFN)
medicare
bank account
Interest
Is your personal reference number issued by the Australian Ta…
provides access to medical and hospital services for all Aust…
can be a deposit account, a credit card account, or any other…
When you borrow money you pay interest. When you lend money,…
Tax File Number (TFN)
Is your personal reference number issued by the Australian Ta…
medicare
provides access to medical and hospital services for all Aust…
9 terms
WMHS Intro to Hospitality Chapter 4
ambience
back of the house
concept
debt service
a hotel's or restaurant's atmosphere and setting, or the over…
the support areas behind the scenes in a hotel or motel, incl…
elements of an operation that contribute to its function as a…
interest on loans
ambience
a hotel's or restaurant's atmosphere and setting, or the over…
back of the house
the support areas behind the scenes in a hotel or motel, incl…
192 terms
Health Care Delivery & Finance Exam #1
From 1850 to 1900, where were most of…
From 1900 to 1945, what type of Health…
During what time period did Health Car…
1945 to 1995 is known as the Era of th…
at home by relatives
Pay-as-you-go system ... -no insurance yet... -A barter system of h…
1945-1995
Hospital.... -It's not that hospitals didn't exist before, but t…
From 1850 to 1900, where were most of…
at home by relatives
From 1900 to 1945, what type of Health…
Pay-as-you-go system ... -no insurance yet... -A barter system of h…
14 terms
Hospitality Ch. 11CASINOS
The Casino Resort
Components of Casino Resorts
Departments that Supervise Both... Casino…
Departments More Related to Casino
guestrooms, restaurants,... shopping arcades and even theme... park…
- Lodging... - F&B... - Entertainment... - Retail shopping... - Conventio…
human resources, finance and marketing.
Security
The Casino Resort
guestrooms, restaurants,... shopping arcades and even theme... park…
Components of Casino Resorts
- Lodging... - F&B... - Entertainment... - Retail shopping... - Conventio…
43 terms
7.01 Personal Finance Key Terms
risk
insurance
policy
policyholder
Uncertain, unpredictable factors that can lead to losses or d…
An arrangement in which an insured pays money to an insurer t…
A written contract stating the arrangement between insured an…
A consumer who has purchased an insurance policy
risk
Uncertain, unpredictable factors that can lead to losses or d…
insurance
An arrangement in which an insured pays money to an insurer t…
84 terms
Intro to Hospitality
all suite hotel
budget hotels
center city hotels
conference centers
feautures 2 connceted hotel rooms that sell for price of one,…
a type of limited serviece hotel, budget hotels have low cons…
full service hotels located in downtown areas.built near citi…
specialized hotels, usually acessible to major market areas b…
all suite hotel
feautures 2 connceted hotel rooms that sell for price of one,…
budget hotels
a type of limited serviece hotel, budget hotels have low cons…
59 terms
DECA Hospitality Cluster Definitions
torts
legislature
legislative
antitrust laws
private wrongdoing against another person, in which businesse…
the legislative body of a country or state
having the power to make laws
regulations preventing a person or company from taking any ac…
torts
private wrongdoing against another person, in which businesse…
legislature
the legislative body of a country or state
16 terms
PF 3.02 Career Exploration
agriculture, food and national resources
architecture and construction
arts, a/v tech and communications
business, management and administration
the production, processing, marketing, distribution, financin…
careers in designing, planning, managing, building and main-t…
designing, producing, exhibiting, performing, writing, and pu…
planning, organizing, directing and evaluating business funct…
agriculture, food and national resources
the production, processing, marketing, distribution, financin…
architecture and construction
careers in designing, planning, managing, building and main-t…
58 terms
FIN 201: Chapter 7
Inexpensive Loans
Medium Priced Loans
Expensive Loans
Truth in Lending Law
Type of Loans... - From Parents or Family members (Best) No inte…
Type of Loans... - From Commercial Banks... - Savings and Loans ass…
Type of Loans... - Finance and Check Cashing companies... - Retaile…
Federal Law that requires creditors to disclose the annual pe…
Inexpensive Loans
Type of Loans... - From Parents or Family members (Best) No inte…
Medium Priced Loans
Type of Loans... - From Commercial Banks... - Savings and Loans ass…
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