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There is a difference between cost control and successful cost control.
Cost Control in the Hospitality Industry takes a deep dive into the subject to illustrate that a mere balance of input and output isn’t enough – just as important is the use of products and services for their intended purposes. This alone can make the difference between operational success and failure.
This textbook encompasses four parts, introducing finance theories and contextualized decision making with a clear articulation as to how, individually and collectively, they are shaping the future of hospitality financial management.
Part I sets the foundation of hospitality financial management by introducing the concept of contextualized decision making, revisiting the accounting fundamentals, and providing an overview of hospitality financial management.