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Management accounting practices in the Greek hospitality industry

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  • Odysseas Pavlatos
  • Ioannis Paggios
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    Abstract

    Purpose – The purpose of this paper is to report the level of adoption and the benefits derived from traditional and contemporary management accounting practices in the Greek hospitality industry. Design/methodology/approach – An empirical survey via questionnaires was conducted on a sample of 85 leading hotels in Greece. Descriptive statistics on the adoption level, the relative benefits and future emphasis of individual practices provide the basis for discussion. Findings – The adoption rates for many recently developed practices were very satisfactory. Overall, traditional management accounting techniques (e.g. budgeting practices, profitability measures, product profitability analysis, customer profitability analysis absorption costing, and nonfinancial measures for performance evaluation) were found to be more widely adopted than recently developed tools. It is concluded that traditional management accounting is very much alive and well. Many hotels intended to place greater emphasis on more recently developed techniques in the future, particularly activity based costing techniques (activity based costing, activity based budgeting, and activity based management), balanced scorecard and benchmarking. Research limitations/implications – The study, examined a large array of items since, as with all surveys, it is possible that respondents may have misinterpreted some elements. Second, the findings of this study should be interpreted bearing in mind that the survey included the largest Greek hotels and not the general population of hotel enterprises. Finally, this research was limited to the Greek hotel sector. Originality/value – The survey provides a unique detailed examination of the management accounting practices and an indication of future trends.

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    Bibliographic Info

    Article provided by Emerald Group Publishing in its journal Managerial Auditing Journal.

    Volume (Year): 24 (2009)
    Issue (Month): 1 (January)
    Pages: 81-98

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    Handle: RePEc:eme:majpps:v:24:y:2009:i:1:p:81-98

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    Web page: http://www.emeraldinsight.com

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    Postal: Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
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    Related research

    Keywords: Greece; Hotels; Management accounting;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Wijewardena, Hema & De Zoysa, Anura, 1999. "A Comparative Analysis of Management Accounting Practices in Australia and Japan: An Empirical Investigation," The International Journal of Accounting, Elsevier, vol. 34(1), pages 49-70.
    2. Chenhall, R. H. & Langfield-Smith, K., 1998. "The relationship between strategic priorities, management techniques and management accounting: an empirical investigation using a systems approach," Accounting, Organizations and Society, Elsevier, vol. 23(3), pages 243-264, April.
    3. Guilding, Chris & Lamminmaki, Dawne & Drury, Colin, 1998. "Budgeting and standard costing practices in New Zealand and the United Kingdom," The International Journal of Accounting, Elsevier, vol. 33(5), pages 569-588.
    4. John Brierley & Christopher Cowton & Colin Drury, 2001. "Research into product costing practice: a European perspective," European Accounting Review, Taylor & Francis Journals, vol. 10(2), pages 215-256.
    5. Anderson, Shannon W. & Lanen, William N., 1999. "Economic transition, strategy and the evolution of management accounting practices: the case of India," Accounting, Organizations and Society, Elsevier, vol. 24(5-6), pages 379-412, July.
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    Citations

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    Cited by:
    1. Askarany, Davood & Yazdifar, Hassan, 2012. "An investigation into the mixed reported adoption rates for ABC: Evidence from Australia, New Zealand and the UK," International Journal of Production Economics, Elsevier, vol. 135(1), pages 430-439.
    2. Stamatiadis, Filippos & Eriotis, Nikolaos, 2011. "Evolution of the Governmental Accounting Reform implementation in Greek Public Hospitals: Testing the institutional framework," MPRA Paper 28816, University Library of Munich, Germany.
    3. Ildikó Réka CARDOS & Stefan PETE & Vasile Daniel CARDOS, 2012. "An Overview On The Adoption And Implementation Of Activity - Based Costing In Practice," Romanian Journal of Economics, Institute of National Economy, vol. 35(2(44)), pages 185-200, December.

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