Review the Annual Reports for Pepsico, Inc. and the Coca-Cola Company in Appendixes a & B of Financial Accounting. Select Either Pepsico, Inc. or the Coca-Cola Company. in Your Estimation, the Company You Chose May Be Financially Healthier or Weaker.

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2 FINANCIAL REPORTING

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TILLMAN J. FERTITTA
Tillman J. Fertitta’s entrepreneurial spirit and financial astuteness have helped him create a highly successful $600 million restaurant company, Landry’s Restaurants, Inc. Business Week recently listed Landry’s Restaurants, Inc., as twenty-sixth on their list of the ‘‘Top 100 Growth Companies.’’ Forbes listed Landry’s fifth on its roster of ‘‘The 200 Best Small Companies in America.’’ Landry’s also received the Nations Restaurant News award as one of the nine ‘‘Hottest Concepts of the 1990s.’’ Born into a family of entrepreneurs, Fertitta is no stranger to starting new businesses. During his high
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F I N A N C I A L S TAT E M E N T S

a. Income statement b. Balance sheet c. Statement of cash flow

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MANAGEMENT REPORTS

a. Daily revenue report b. Daily payroll cost report c. Rooms revenue forecast d. Food and beverage menu abstract e. Accounts receivable aging schedule

4.

ACCOUNTING SYSTEM—CP3 SYSTEM

FINANCIAL REPORTING he goals of chapter 2 are to introduce you to the financial and management reports you will encounter during your hospitality career and to teach you how to read and interpret them. The more you advance within your company, the more you will rely on these reports to succeed. The more familiar you are with the financial statements, management reports, and control systems presented in this chapter, the better your chances will be for promotion and the more effective you will be as a manager. We begin the chapter with a brief review of the accounting principles and system of accounts that provide the foundation for the preparation of financial statements. We discuss new accounting rules affecting the hospitality industry today, and then focus the balance of the chapter on the management reports and control systems that will help you make informed financial business decisions and become a successful hospitality manager.

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Accounting as the Language of Business
Many people in the hospitality industry find accounting and finance, which are considerably different from the operational

More about Review the Annual Reports for Pepsico, Inc. and the Coca-Cola Company in Appendixes a & B of Financial Accounting. Select Either Pepsico, Inc. or the Coca-Cola Company. in Your Estimation, the Company You Chose May Be Financially Healthier or Weaker.

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