Type of Submission
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 The former is a historical document recording how cash was accumulated and used in the previous accounting period while the latter is a forecast to plan for the use of cash in the future.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.
DeFranco, Agnes L. and Schmidgall, Raymond S.
"Are We Keeping Our Cash in Our Hotels?,"
Journal of Hospitality Financial Management: Vol. 28
, Article 7.
Available at: https://scholarworks.umass.edu/jhfm/vol28/iss1/7