The American Hotel & Lodging Educational Institute (AHLEI) has published the seventh edition of Hospitality Industry Managerial Accounting, written by Raymond S. Schmidgall, Ph.D., CPA, of Michigan State University.

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This textbook includes everything readers will need to gain a clear understanding of managerial accounting in a hospitality setting. Readers will learn to make effective choices based on the numbers that affect daily operations, develop on-target budgets and control cash flow, reach profit goals with the help of financial reports and other tools, and apply the latest uniform systems of accounts for hotels and restaurants.

The seventh edition reflects changes to taxes in 2010 and updated operating statistics. It also has new sections on revenue management and dynamic pricing, accounting for gift cards, unsecured bank loans, and profitability indexes. Information on the Uniform System of Financial Reporting for Clubs has been added for comparison to current information on hotels and restaurants. Each chapter also features three new problems to challenge students.

This book is recommended by the Hospitality Financial and Technology Professionals (HFTP) in preparation for the Certified Hospitality Accountant Executive (CHAE) exam.

Hospitality Industry Financial Accounting, Seventh Edition, is available to hospitality industry customers for $96.95 ($66.95 for AH&LA members). Call 800-752-4567 or order online at www.ahlei.org. Outside the U.S. and Canada, call 407-999-8100. Academic customers should call their account executive at 800-344-4381 or 517-372-8800 for school pricing