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- Title
FLEXIBLE BUDGET MANAGEMENT AND "CASH-FLOW" PLAN IN NATIONAL AND INTERNATIONAL HOTEL UNITS.
- Authors
RĂCHITĂ, Ustinia; DIACONESCU, Tiberiu; MÂZGĂ, Alexandru
- Abstract
Current/daily management of cash-flow in a hotel requires from the management providing the following important issues regarding: proper activity of the unit (sales, acquisitions, salaries); capitalization plan status (investments) and development plan; payment in installments of maturities related to various operations. In the materialization of this goal it is necessary that general manager's collaborators to participate to cash-flow management by cooperating directly with: (i) procurement officer (cost controller); the head of this Department must negotiate with the suppliers terms and conditions of payment; (ii) in this mode the unit's daily budget becomes more flexible, while becoming more responsible for preparing payment notes (city-ledger); (iii) commercial officer, that has to deal with: delays in the payment of invoices by clients; (iv) diminishing stocks to the necessary minimum (example: stocks of raw materials supply to 5 days, stocks of beverages to 10 days); (v) the opening of credit lines from banks, as well as negotiating contracts for the purchase of materials, supplies, services etc.
- Subjects
CASH flow; HOTELS
- Publication
Hyperion International Journal of Econophysics & New Economy, 2016, Vol 9, Issue 1, p199
- ISSN
2069-3508
- Publication type
Article