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Experience accounting: an accounting system that is relevant for the production of restaurant experiences
School of Business, Economics and Law, University of Gothenburg, Gothenburg, Sweden.
School of Business, Economics and Law, University of Gothenburg, Gothenburg, Sweden.ORCID iD: 0000-0002-6365-930X
2009 (English)In: Service Industries Journal, ISSN 0264-2069, E-ISSN 1743-9507, Vol. 29, no 10, p. 1377-1396Article in journal (Refereed) Published
Abstract [en]

Restaurants are clearly part of the experience industry but managers get little information and support from the accounting system in their efforts to create memorable meal experiences for their customers. The objective of this study is to empirically assess how an accounting system can be better aligned with the production of customer experiences. First, total costs are allocated to the production of four major types of experiences in a restaurant: basic food, culinary finesse, atmosphere, and service. This is followed by an analysis of customer evaluations of a meal experience categorised into the same four components. The study is based on empirical accounting data from three restaurants and an explorative study of how their customers evaluate an ideal as well as an actual meal experience they had in that restaurant. Experience evaluations are made in monetary terms, using the contingent valuation method, and the value of an experience can be compared with the cost of producing it. The analysis of the production cost compared with the value created indicate that, on average, the restaurants need to reallocate resources from service and basic food expenses to invest in the interior atmosphere of the restaurant to meet customer expectations.

Place, publisher, year, edition, pages
Routledge, 2009. Vol. 29, no 10, p. 1377-1396
Keywords [en]
hospitality, management accounting, experience, value, willingness to pay, experience accounting
National Category
Business Administration
Research subject
Business Studies
Identifiers
URN: urn:nbn:se:oru:diva-72928DOI: 10.1080/02642060903026270ISI: 000270093400004Scopus ID: 2-s2.0-70350278727OAI: oai:DiVA.org:oru-72928DiVA, id: diva2:1294034
Available from: 2019-03-06 Created: 2019-03-06 Last updated: 2019-03-06Bibliographically approved

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Carlbäck, Mats

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf