易展国际
Trade  Dynamic
Financial Management Positioning For Hotel Industry (Ⅰ)
Release Time: 2008/1/3 0:00:00        From: Made In China.com        Visits: 222904        Font Size: Large  Middle  Small

Half of management is check, and one of the primary responsible departments for check is finance department. This kind of organization structuring makes financial management permeate each department and link of hotels. Take financial management as the central task, drive and promote every other management of hotels.

 

Talking about the hotel financial affairs in the past, everybody will think of bookkeeping and accounting; talking about the financial management of hotels, everybody will think it is the business of finance and accounting department, and have nothing to do with other departments. The modern hotel financial management is the core of hotel management, closely related to any department, anyone, and each link involving capital flow of hotels, from purchasing to processing, selling, financial collection, and then to purchasing. Cyclical process of hotel funds is called the hotel supply chain system. High-efficient and orderly operation of the supply chain system determines the realization of the hotel financial management objectives.

 

At present, the financial organization structuring of the hotel industry is generally made on the basis of different scales, grades and the requirement of internal management. There is no fixed and unalterable mode. Finance department of most hotels is made up of five parts together: accounting, audit, cash collection, purchases and supply (the depot). Financial Controller is in charge of finance department and purchases and supply directly; Finance department is an important department directly under the leadership of general manager. The organization structuring of finance department determines its special status. I realize deeply from practice that the advantage of this kind of financial organization structuring is:

 

First, establish corresponding functional institution and organization system to coordinate the daily work of the administrative staff; help to save and mobilize manpower, material and financial resources; control and shift in unison, accelerate fund turnover, guarantee the smooth performance of accounting, and bring the "reflection and supervision" function of finance and accounting into full play; make each link of financial management link up with each other, make sure that orderly operation of economic subject deals with the non-determinacy of market economy environment. Cost control department and cost manager are set up within finance department (there is only the cost accountant in my hotel because of the small scale), which are directly under the management of financial manager or financial controller, who can play a decisive role in cost control, adjustment of gross profit rate, cost accounting, adjustment of reasonable stocks, etc. of the whole hotel. Cost manager administers food controller, beverage controller, controller of tobacco and wine and supplies of articles as well, and supervises that each performs his functions and duties for his own project, which is benefited to the control of the total cost of hotels. The business range of the department of cost control is cost accounting, especially cost accounting of food and beverage (hotels generally assign 2-3 staff). As usual, a standard cost accounting sheet must be prepared for each dish on the menu at every restaurant affiliated to food and beverage department, which is a kind of tremendous workload and very nit-picking work (also called the menu project) that heft and unit price of all materials, auxiliary ingredients for each dish must be accounted and kept on record one by one. This task is finished by department of cost control and cook together, the finished "standard menu prescription" is the model and "Bible" for daily operation of chefs served each restaurant. The main menu needs trial to form a plate, and then taking a picture as a model, thus forming the menu database. Department of cost control shall carry out cost accounting and control according to that. Once abnormal cost signals are found, it shall perform its duty to give alert to chief chef. With the cooperation of department of cost control, food and beverage department can finish target profits of the department by knowing what's what in each month. If without cost control, food and beverage department will lack of rational guidance but do "march by following the feeling", and what our prince international hotel lacks is "Bible".

 

Second, purchasing department and warehouse are directly subordinated to finance department, thus making it easy to know about business and market trends, reduce the operation cost, and prevent from abusing fund and keeping materials in stock. Its advantages are: first, be favorable to the control of the purchase cost of hotels. How to determine the purchasing price of hotels has a direct impact on the level of cost. Purchasing and finance department within international hotels are in general responsible for assigning personnel to investigating and confirming purchase cost, any “purchase application form” should be determined by financial controller finally after conducting full investigations, and a good buy can be attained by shopping around. As for the purchase of food materials goods, since its price varies with season frequently, purchase price should be determined after deducting the certain wholesale and retail price differential according to the investigation result made by the personnel of department of cost control, purchasing department and food and beverage department together. Purchase price can not be determined by purchasing department and suppliers. Second, help to regulate and control cost rate. How the cost rate level of food and beverage department changes is closely related to purchase price of purchasing department, if cost rate of food and beverage takes on abnormal one, finance department can take actions immediately to reduce the purchase varieties and quality so that the appropriate price and cost rate could be obtained through adjusting. Third, purchasing department directly under finance department not only helps to finance department know information about price, control and lower costs in time, but also prevent departments from dispersing and arguing over trifles with each other. 

 

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