Type of Submission
Refereed Article
Abstract
Cash is the lifeblood of any business. Even if a business has cash but is not properly managed, the operation will suffer. One hundred and sixty clubs and hotels shared their accounts receivable and accounts payable practices. In addition, for the users and usage of the statement of cash flows and cash budgets, how often such statements are prepared are documented as points of comparison. It is found that both clubs and hotels view the cash budget more favorably than the statement of cash flows, and hotels are more vigilant, employing more practices to collect their accounts receivable. Managing the cash conversion cycle and monitoring the depreciation/revenue ratios are two highlights suggested.
DOI
https://doi.org/10.7275/b17v-8k78
Recommended Citation
DeFranco, Agnes L. and Schmidgall, Raymond S.
(2020)
"Cash in Hotels and Clubs: 2020 and Beyond,"
Journal of Hospitality Financial Management: Vol. 28:
Iss.
2, Article 5.
DOI: https://doi.org/10.7275/b17v-8k78
Available at:
https://scholarworks.umass.edu/jhfm/vol28/iss2/5
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