Type of Submission
Invited Article
Abstract
Cash is often known as the most important asset of any business. Without cash, it is very difficult to sustain a business, let alone to grow it. This study therefore investigated the compilation and usage of the statement of cash flows and the cash budget in hotels. The former is a historical document recording how cash was accumulated and used in the previous accounting period while the latter is a forecast to plan for the use of cash in the future. Other cash management practices, ranging from deposits, cancellations, and penalties to a list of accounts receivable and accounts payable practices, are also discussed. This study also compared how such uses and practices have evolved in the past 20 years.
DOI
https://doi.org/10.7275/bgyt-at29
Recommended Citation
DeFranco, Agnes L. and Schmidgall, Raymond S.
(2020)
"Are We Keeping Our Cash in Our Hotels?,"
Journal of Hospitality Financial Management: Vol. 28:
Iss.
1, Article 7.
DOI: https://doi.org/10.7275/bgyt-at29
Available at:
https://scholarworks.umass.edu/jhfm/vol28/iss1/7
Included in
Corporate Finance Commons, Finance and Financial Management Commons, Food and Beverage Management Commons, Gaming and Casino Operations Management Commons, Real Estate Commons, Tourism and Travel Commons