Objectives
       After studying this topic you should be able to:
       Understand how management accounting has changed 
          over time;
       Appreciate the use of strategic managerial accounting to 
          managers in performing their roles and responsibilities;
       Critically evaluate research into management accounting, 
          both generic and applied, from a manager’s perspective; 
          and
       Critique opportunities for further applied research into 
          management accounting within hospitality, tourism and 
          events sectors.
                      © 2012 Jones et al: Strategic Managerial Accounting: Hospitality, Tourism & Events Applications 6thedition, Goodfellow Publishers
              Management accounting 
                        change over time
                                                                      Strategic 
                                                 Management        Management 
                                                  Accounting         Accounting
                                Cost Accounting
                             © 2012 Jones et al: Strategic Managerial Accounting: Hospitality, Tourism & Events Applications 6thedition, Goodfellow Publishers
           Management accounting 
                  change over time
        Started as management accounting in the 
          1800s
        Developed into the broader management 
          accounting in the 1900s
        More recently a strategic management 
          accounting discipline has developed
        This textbook considered strategic managerial 
          accounting and its application to hospitality, 
          tourism and event sectors.
                      © 2012 Jones et al: Strategic Managerial Accounting: Hospitality, Tourism & Events Applications 6thedition, Goodfellow Publishers
                Use of management 
          accounting in hospitality, 
                  tourism & events
        Usefulness and validity of techniques has been discussed in 
         
        relation to these specific service sector environments.
         
        Some techniques, such as total absorption costing and full 
        cost pricing, are sometimes inappropriate within specific 
        
        service industries, though they work in manufacturing 
        environments.  
        Figure 20.2 (next slide) identifies some of the management 
        accounting tools and techniques that are useful in 
        hospitality, tourism and events, all of which (amongst 
        others) have been explored within this textbook. 
                      © 2012 Jones et al: Strategic Managerial Accounting: Hospitality, Tourism & Events Applications 6thedition, Goodfellow Publishers
                                       Use of management 
                         accounting in hospitality, 
                                              tourism & events
                                            Generic                                   Generic                            Industry Specific
                                  Traditional Management                        Strategic & Modern 
                                        Accounting tools                            Management                                 Management 
                                                                                  Accounting Tools                          Accounting Tools
                                      Decision making techniques                     Balanced Scorcard
                                                                                           (BSC)
                                             Cost Elements                                                                    Industry Specific Ratio 
                                                                                                                                    Analysis
                                      Cost Volume Profit Analysis              Customer Profitability Analysis
                                                 (CVP)                                     (CPA)
                                            Pricing methods
                                                                                   Critical Success Factors
                                               Budgeting                                   (CSFs)
                                                                                                                             Revenue Management 
                                                                                                                               (Yield Management)
                                      Performanace measurement                     Activity Based Costing
                                                                                           (ABC)
                                             Benchmarking
                                     Working Capital Management                  Activity Based Management
                                                                                           (ABM)
                                      Capital Investment Appraisal                                                         Uniform System of Accounts 
                                                                                                                             for the Lodging Industry 
                                          (PBP, ARR, NPV, IRR)                  Environmental Management                             (USALI)
                                                                                        Accounting
                                             Ratio Analysis                                (EMA)
                                                      © 2012 Jones et al: Strategic Managerial Accounting: Hospitality, Tourism & Events Applications 6thedition, Goodfellow Publishers