Introduction to Hospitality Controls

Author(s):  
Dr Cathy Burgess

In this first chapter we will introduce the concept of ‘control’ and hospitality in general. We’ll also look at the function of the financial control office where some of the control processes take place. As you’ll see as we work through further chapters, much of control happens in the operating departments – so control is a business-wide function, not just an accounting one. By the end of this chapter you should be able to: - Understand the basic approach of this book - Define what a business is and the main reason for control - Describe the main features of the different sectors of the industry - Describe the various activities of the financial control office.

2020 ◽  
Author(s):  
Plamena Nedyalkova ◽  

The development of financial control over the years has led to the emergence and validation of various types of controls. This type of control is financial intelligence, which control takes place through specific types of control processes. Financial intelligence has undergone a number of procedural changes aimed at improving the technology for carrying out the intelligence-control process. These changes were caused by the transformation, modification and validation of new types of financial assets, financial fraud and abuse in the financial system.


Author(s):  
Anna V. Bodyako

In the context of geopolitical cataclysms, the institutions of macroeconomic regulation of tactics and strategies for the development of large economic complexes under Federal ownership perform an important regulatory mission-to ensure the stable development of the Russian market space. The effectiveness of state and corporate measures for regulating financial and property control processes is determined, other things being equal, by the quality of accounting and analytical information generated from various sources. This means that the methodology and information support for control procedures should be based on a time-appropriate concept of accounting and control processes in the management system for the development of companies with state participation.The article analyzes the positive and negative prerequisites for updating management systems and their information support for adapting the corporate financial and economic management system to new realities. Based on the analysis of the current situation and studying the experience of companies with state participation are formed the author's position updated “concept of accounting and control processes in the management system development of companies with state participation”, which are as follows: formulated new definitions of the terms in the context of methodology of development of accounting and control processes; the conditions for expanding information boundaries are defined by combining state financial control and internal corporate control, including in the methods of investigating the causes of financial discipline violations, methods of internal corporate control, corporate tax monitoring, and analysis control methods, which is facilitated by the current level of IT technology development and further digitalization of the economy. It is concluded that it is necessary to adopt a law on financial control for national purposes, which is still not available in the country's legal practice. This Law should contain an institutionally recognized and clearly defined term “financial control”, as well as features of control procedures at the national and corporate levels.


Author(s):  
Stefan Scherbaum ◽  
Simon Frisch ◽  
Maja Dshemuchadse

Abstract. Folk wisdom tells us that additional time to make a decision helps us to refrain from the first impulse to take the bird in the hand. However, the question why the time to decide plays an important role is still unanswered. Here we distinguish two explanations, one based on a bias in value accumulation that has to be overcome with time, the other based on cognitive control processes that need time to set in. In an intertemporal decision task, we use mouse tracking to study participants’ responses to options’ values and delays which were presented sequentially. We find that the information about options’ delays does indeed lead to an immediate bias that is controlled afterwards, matching the prediction of control processes needed to counter initial impulses. Hence, by using a dynamic measure, we provide insight into the processes underlying short-term oriented choices in intertemporal decision making.


2009 ◽  
Author(s):  
Morris Goldsmith ◽  
Larry L. Jacoby ◽  
Vered Halamish ◽  
Christopher N. Wahlheim

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