This textbook includes everything needed to gain a clear understanding of managerial accounting in a hospitality setting. The new 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 your understanding of accounting.