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  Published Paper Details:

  Paper Title

THE GROWING IMPORTANCE OF COST ACCOUNTING FOR HOTEL INDUSTRY

  Authors

  SANJIT SARKAR

  Keywords

Keywords: Cost accounting, hotel industry, financial indicators, budget variance analysis

  Abstract


Abstract Chapter 1: Chapter 1 introduces cost accounting and discusses its role in the hotel sector. Then it shows the importance of this study in the hospitality business by reflecting on its growing importance in solving managerial and financial challenges of hospitality managers. Finally, it depicts the challenges faced in adopting cost accounting practices. Chapter 2: This section of the analysis mainly discussed the important part of this research analysis. It analysed the important factors of the cost accounting method and the problems of cost accounting in the hotel industry. The cost accounting process in the business of the hotel industry is very effective and important. Chapter 3: This methodology section is mainly based on the interpretivism research philosophy and descriptive research design. Chapter 4: In the result chapter, secondary articles have been incorporated which highlighted the cost accounting practices in the hotels or the hospitality industry. It has been seen that auditing of the sectors in the hotels is incorporated in the hospitality business which can help to estimate the weekly, monthly or yearly deficiency or the mitigation of deficiency of costing. Chapter 5: In the discussion chapter, it has been seen that different financial indicators are used and visualised in the hotels that can further help in assessing the further steps and the decision on the modification of the hotels' endeavours. Chapter 6: In conclusion, the recommendation has highlighted better proceeding in the hotels with better allocating of staff, which can lead to a flawless cost accounting process.

  IJCRT's Publication Details

  Unique Identification Number - IJCRT2303303

  Paper ID - 232461

  Page Number(s) - c700-c715

  Pubished in - Volume 11 | Issue 3 | March 2023

  DOI (Digital Object Identifier) -   

  Publisher Name - IJCRT | www.ijcrt.org | ISSN : 2320-2882

  E-ISSN Number - 2320-2882

  Cite this article

  SANJIT SARKAR,   "THE GROWING IMPORTANCE OF COST ACCOUNTING FOR HOTEL INDUSTRY", International Journal of Creative Research Thoughts (IJCRT), ISSN:2320-2882, Volume.11, Issue 3, pp.c700-c715, March 2023, Available at :http://www.ijcrt.org/papers/IJCRT2303303.pdf

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ISSN: 2320-2882
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Journal Starting Year (ESTD) : 2013
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ISSN and 7.97 Impact Factor Details


ISSN
ISSN
ISSN: 2320-2882
Impact Factor: 7.97 and ISSN APPROVED
Journal Starting Year (ESTD) : 2013
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