The hospitality industry represents one of the most dynamic sectors of the contemporary society, ... more The hospitality industry represents one of the most dynamic sectors of the contemporary society, with an emphasised role in the process of globalization. Currently, the hospitality industry does not only face the challenges of the economic crisis but the changes in the market, the consumers' behaviour and the technological trends, too. That is why, in this time, it is extremely important to apply the management accounting and the cost calculation in any entity in the hospitality industry in order to cope with the market challenges. The main services are performed through the hospitality industry: the accommodation and the restauration. These services satisfy the vital needs of the tourists, but this industry must meet other needs or requests such as the acknowledgement of the social status, the desire to know other cultures or traditions, to spend free time in a pleasant manner etc. Our intention and goal in the current article is to approach an image of the CVP analysis in the decision making process with an emphasis on the restauration in the hospitality industry. In order to cope with this critical time, the competition and to achieve the profits estimated, the managers in the hospitality industry can apply the CVP analysis, one of the simplest and most useful analytical instruments. The paper will tackle with the problem of the break even point in a restaurant, one of the main indicators of the CVP model and also the possibility of the decision making process orientation.
Annales Universitatis Apulensis Series Oeconomica, 2011
Tourism is a complex social and economic phenomenon specific to modern civilization, an essential... more Tourism is a complex social and economic phenomenon specific to modern civilization, an essential activity in the life of nations, being strongly influenced by the freedom of travel and the evolution of society. Addressing to large shares of the population and meeting the human need for travelling and knowledge, recreation and healing, tourism is characterized by a high momentum both nationally and globally, resulting in a vast human and material potential, with important implications upon the evolution of the entire society. Hospitality and tourism industry are nowadays considered to stand for the largest business in the world, being the main industry in point of their contribution to the gross world product, labor committed as well as the most important capital investor. The objective of our article is to analyze the evolution of several indicators of tourist traffic and their influence on the macro-environment in Romania. As far as the research methodology is concerned, the article is based on a positivist quantitative approach, being in the same time a longitudinal one, as we present the evolution of various indicators measuring the degree of impact the hospitality industry has on the national economy. The main information sources for this research are published on the websites of various authorized bodies (NIS, NBR, WTO), using exploratory method for analyzing the evolution of the phenomenon in time, but I also considered the interpretive method when disclosing the analysis results.
In the contemporary period the tourism and hospitality industry has experienced dynamic growth de... more In the contemporary period the tourism and hospitality industry has experienced dynamic growth despite the challenges facing not only the global crisis, but also market changes, consumer behavior and technological trends. Accounting, the language of business is required to keep up with changes made to each particular area of activity so that they can provide timely relevant information to be managed by an efficient information system. Our article focuses on presenting the importance of management accounting and cost information system in the hospitality industry, then consider identifying features of this sector and their impact on accounting. The methodology of our research falls within the economic research, being theoretical, aiming primarily to knowledge objectives and the relevance of management accounting for economic entities, and then we have the characteristics of hospitality industry and possible organizational management accounting in this sector. In our perspective cost calculation for services, packages or travel benefits must take into account the development of the accounts from Class 9, so we propose a possible method to customize them according to the Direct Costing and CVP analysis. Our research will also be explanatory descriptive, trying to answer the questions How? and Why?
The hospitality industry is one of the most dynamic sectors of contemporary society with a pronou... more The hospitality industry is one of the most dynamic sectors of contemporary society with a pronounced role in the globalization process. Nowadays, hospitality industry does not only face the challenges of the economic crisis, but also the changes of the market, in consumerâ€(tm)s behavior and in technological trends. Accounting, as a language of business, must keep pace with developments in the areas investigated, and the need to promote universally recognized concepts proves its usefulness more and more. When an entity's management team is facing difficult problems such as the economic and financial ones, a situation frequent in the hospitality industry given the complexity of these activities, a need is naturally felt, for a set of accounting principles which are not similar with the immutable laws of nature from physics and chemistry. The contribution of accounting to the fulfillment of the strategic objectives of the managers in hospitality and tourism industry is manifested also in the form of providing the information necessary for monitoring, for determining the degree of liability and the effect produced at various work places, which allows detection of internal reserves, of unnecessary and uneconomic spending and of losses. Also, accounting has developed the capability of knowing the economic and financial situation, so that it can provide, in optimal conditions, the information necessary to make the most appropriate decisions. Moreover, the purpose of accounting is to make the information and its methods a targeting tool, a "dashboard", an advisor, in order to determine the conditions in which the economic entity operates at both micro- and macroeconomic level. These were the reasons that led to the start of our scientific approach, aiming at a radiography of the impact of accounting information on managerial decisions in the hospitality industry in Romania. This article is primarily a theoretical one in which we intend to review the literature on the topic of accounting information in the hospitality industry and of management accounting practices in this sector.
Management accounting and cost calculation in the hospitality industry is a pathless land. The pr... more Management accounting and cost calculation in the hospitality industry is a pathless land. The prezent article is a starting point of a long scientific approach on the domain of the hospitality industry and on the managerial accounting in this area. Our intention is to put the spot light back on the thorny problem of applying Financial Accounting and specifically its implementation in the hospitality industry. One aim of this article is to provide a picture of CVP analysis in decision making with customizing the hospitality industry. To cope with the crisis period, the competition and to achieve the expected profits of the hospitality industry ,managers have the possibility to apply CVP analysis, one of the most simple and useful analytical tools. This paper will address the basic version of the CVP model, exemplifying the main indicators of the particular model for the hospitality industry that can help guide decision-making.
The hospitality industry represents one of the most dynamic sectors of the contemporary society, ... more The hospitality industry represents one of the most dynamic sectors of the contemporary society, with an emphasised role in the process of globalization. Currently, the hospitality industry does not only face the challenges of the economic crisis but the changes in the market, the consumers' behaviour and the technological trends, too. That is why, in this time, it is extremely important to apply the management accounting and the cost calculation in any entity in the hospitality industry in order to cope with the market challenges. The main services are performed through the hospitality industry: the accommodation and the restauration. These services satisfy the vital needs of the tourists, but this industry must meet other needs or requests such as the acknowledgement of the social status, the desire to know other cultures or traditions, to spend free time in a pleasant manner etc. Our intention and goal in the current article is to approach an image of the CVP analysis in the decision making process with an emphasis on the restauration in the hospitality industry. In order to cope with this critical time, the competition and to achieve the profits estimated, the managers in the hospitality industry can apply the CVP analysis, one of the simplest and most useful analytical instruments. The paper will tackle with the problem of the break even point in a restaurant, one of the main indicators of the CVP model and also the possibility of the decision making process orientation.
Annales Universitatis Apulensis Series Oeconomica, 2011
Tourism is a complex social and economic phenomenon specific to modern civilization, an essential... more Tourism is a complex social and economic phenomenon specific to modern civilization, an essential activity in the life of nations, being strongly influenced by the freedom of travel and the evolution of society. Addressing to large shares of the population and meeting the human need for travelling and knowledge, recreation and healing, tourism is characterized by a high momentum both nationally and globally, resulting in a vast human and material potential, with important implications upon the evolution of the entire society. Hospitality and tourism industry are nowadays considered to stand for the largest business in the world, being the main industry in point of their contribution to the gross world product, labor committed as well as the most important capital investor. The objective of our article is to analyze the evolution of several indicators of tourist traffic and their influence on the macro-environment in Romania. As far as the research methodology is concerned, the article is based on a positivist quantitative approach, being in the same time a longitudinal one, as we present the evolution of various indicators measuring the degree of impact the hospitality industry has on the national economy. The main information sources for this research are published on the websites of various authorized bodies (NIS, NBR, WTO), using exploratory method for analyzing the evolution of the phenomenon in time, but I also considered the interpretive method when disclosing the analysis results.
In the contemporary period the tourism and hospitality industry has experienced dynamic growth de... more In the contemporary period the tourism and hospitality industry has experienced dynamic growth despite the challenges facing not only the global crisis, but also market changes, consumer behavior and technological trends. Accounting, the language of business is required to keep up with changes made to each particular area of activity so that they can provide timely relevant information to be managed by an efficient information system. Our article focuses on presenting the importance of management accounting and cost information system in the hospitality industry, then consider identifying features of this sector and their impact on accounting. The methodology of our research falls within the economic research, being theoretical, aiming primarily to knowledge objectives and the relevance of management accounting for economic entities, and then we have the characteristics of hospitality industry and possible organizational management accounting in this sector. In our perspective cost calculation for services, packages or travel benefits must take into account the development of the accounts from Class 9, so we propose a possible method to customize them according to the Direct Costing and CVP analysis. Our research will also be explanatory descriptive, trying to answer the questions How? and Why?
The hospitality industry is one of the most dynamic sectors of contemporary society with a pronou... more The hospitality industry is one of the most dynamic sectors of contemporary society with a pronounced role in the globalization process. Nowadays, hospitality industry does not only face the challenges of the economic crisis, but also the changes of the market, in consumerâ€(tm)s behavior and in technological trends. Accounting, as a language of business, must keep pace with developments in the areas investigated, and the need to promote universally recognized concepts proves its usefulness more and more. When an entity's management team is facing difficult problems such as the economic and financial ones, a situation frequent in the hospitality industry given the complexity of these activities, a need is naturally felt, for a set of accounting principles which are not similar with the immutable laws of nature from physics and chemistry. The contribution of accounting to the fulfillment of the strategic objectives of the managers in hospitality and tourism industry is manifested also in the form of providing the information necessary for monitoring, for determining the degree of liability and the effect produced at various work places, which allows detection of internal reserves, of unnecessary and uneconomic spending and of losses. Also, accounting has developed the capability of knowing the economic and financial situation, so that it can provide, in optimal conditions, the information necessary to make the most appropriate decisions. Moreover, the purpose of accounting is to make the information and its methods a targeting tool, a "dashboard", an advisor, in order to determine the conditions in which the economic entity operates at both micro- and macroeconomic level. These were the reasons that led to the start of our scientific approach, aiming at a radiography of the impact of accounting information on managerial decisions in the hospitality industry in Romania. This article is primarily a theoretical one in which we intend to review the literature on the topic of accounting information in the hospitality industry and of management accounting practices in this sector.
Management accounting and cost calculation in the hospitality industry is a pathless land. The pr... more Management accounting and cost calculation in the hospitality industry is a pathless land. The prezent article is a starting point of a long scientific approach on the domain of the hospitality industry and on the managerial accounting in this area. Our intention is to put the spot light back on the thorny problem of applying Financial Accounting and specifically its implementation in the hospitality industry. One aim of this article is to provide a picture of CVP analysis in decision making with customizing the hospitality industry. To cope with the crisis period, the competition and to achieve the expected profits of the hospitality industry ,managers have the possibility to apply CVP analysis, one of the most simple and useful analytical tools. This paper will address the basic version of the CVP model, exemplifying the main indicators of the particular model for the hospitality industry that can help guide decision-making.
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