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The Journal of Hospitality Financial Management

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http://www.tandfonline.com/loi/uhfm20

Developing International Hospitality Financial

Management
a
Tommy D. Andersson
a
Goteborg University
Published online: 15 Apr 2013.

To cite this article: Tommy D. Andersson (1992) Developing International Hospitality Financial Management, The Journal
of Hospitality Financial Management, 2:1, 64-64, DOI: 10.1080/10913211.1992.10653641

To link to this article: http://dx.doi.org/10.1080/10913211.1992.10653641

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 64
INTERNATIONAL HOSPITALITY FINANCIAL
MANAGEMENT

Tommy D: Andersson
Goteborg University

ABSTRACT

The increasingly international character of the hospitality industry poses challenges and
opportunities to teachers and researchers in the field of financial management. AHFME, being
an organization of financial management teachers and researchers, could be the ideal forum for
developing and organizing knowledge about international aspects of financial management.

There are three clear tasks ahead: (1) to define the area of International Hospitality
Financial Management, (2) to explore topics for further research within this area, and (3) To
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establish the area as a teaching topic and to provide teaching material.

AHFME may help in coordinating and streamlining efforts to meet these demands for
new knowledge which involve several aspects of financial management such as: (1) Cost
accounting, where differences in accounting praxis around the world depend on different
accounting schemes and traditions between e.g., Anglo-Saxon, Germanic, and Latin cultures.
(2) Managerial accounting, where favorite analytical techniques and ratios may differ from one
country to another (presumably so because they are more or less relevant). International
differences in labor-cost, food-cost, capital-cost, etc. will not only result in widely different target
ratios, but also in different emphases being placed on planning methods and optimization
techniques in various economic and business environments. (3) Financial accounting, where tax
rules, laws and regulations have a decisive impact. It is consequently essential to be aware of
differences in legal contexts in order to correctly interpret financial accounting statements. (4)
International financing, where multinational firms normally have more and new options to
consider for fmancing investments and working capital. Knowledge of "the pro's and con's" of
various international instruments and of relevant appraisal techniques may be crucial in order to
make the most out of international business.

This outline of international challenges for the financial management teacher and
researcher is, of course, far from conclusive. The idea is merely to indicate some areas where
efforts may be worthwhile.

The major objective with this presentation at the AHFME Conference is to initiate an
exchange of ideas on how AHFME members, through joint efforts, can develop, organize and
disseminate the new knowledge which is necessary for developing the field of International
Hospitality Financial Management. AHFME seems to be the ideal forum for this.