14 research outputs found
A Three-Decade Review of Club Capital-Budgeting Practices
If clubs are to remain viable in the future, it is important for them to employ proper capital-budgeting techniques. This study reports on clubs’ current capital-budgeting practices. It also compares current practices with those used by clubs over the previous two decades, starting in the 1980s
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Hotel/Gaming Companies and Corporate Governance
Corporate governance is a common topic for discussion both among public companies and in graduate schools of business. A well functioning corporate audit committee is an essential part of good corporate governance. This article describes the evolution, duties, and composition of audit committees over the past thirty five years. It also provides a comparison of the basic audit committee policies and procedures of the top restaurant companies with those of lodging companies
Revisiting the Ethics of Financial Executives in the Lodging Industry
This study revisited ethics in the hospitality industry and involved a randomly selected sample of lodging financial executives taken from the current membership roster of the Hospitality Financial and Technology Professionals (HFTP). After responding to a number of demographic questions, financial executives were asked to respond to 16 business scenarios that involved the issue of ethics. In addition, financial executives were asked if they would or would not do what the controller did in each scenario. Finally, responses of financial executives in the current study were compared to the responses of financial executives in a previous study. Findings indicate that there is considerable disagreement among financial executives regarding the ethical dimensions of common business scenario
Capital Budgeting of Major Lodging Chains
The long-term performance of the lodging chain is highly dependent on the use of the most effective techniques for evaluating capital projects. This study provides information on the critical aspects of lodging chains\u27 capital budgeting practices and compares current ones with those used by chains in 1980 and 1990
Controllers\u27 Perceptions of the Importance of Accounting Skills to Lodging Managers
Are managerial accounting skills important to all managers? Which of the common managerial accounting skills are the most important to the non- accounting manager? The authors report on their descriptive research gathered from controllers in the hospitality industry which provides guide- lines for managers in these areas
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Club Capital Budgeting Practices over Four Decades
The approach clubs take to evaluate capital budgeting projects has evolved over the years. This study provides evidence that clubs appear to continue favoring the payback approach to capital budgeting. In addition, the internal rate of return approach appears to be used more than in the past when evaluating projects. The study compares club capital budgeting practices over a four-decade time frame
To Chae or not to Chae
Many certifications are available in many professions. They represent a level of achievement and provide a dimension of professionalism to a resume. This article reveals the results of research covering the degree the extent of certification of members of the Hospitality Financial & Technology Professionals. Further, obstacles and assists in taking the examination to become a Certified Hospitality Accountant Executive (CHAE) were determined. Thirty-seven percent of the respondents have earned their CHAE. The biggest obstacle to taking the exam according to 60% of the respondents who have not earned the CHAE was lack of time to prepare. The biggest assist according to this same group would be an on-line CHAE preparation course
To CHAE or Not to CHAE
Many certifications are available in many professions. They represent a level of achievement and provide a dimension of professionalism to a resume. This article reveals the results of research covering the degree the extent of certification of members of the Hospitality Financial & Technology Professionals. Further, obstacles and assists in taking the examination to become a Certified Hospitality Accountant Executive (CHAE) were determined. Thirty-seven percent of the respondents have earned their CHAE. The biggest obstacle to taking the exam according to 60% of the respondents who have not earned the CHAE was lack of time to prepare. The biggest assist according to this same group would be an on-line CHAE preparation course
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Clubs\u27 Adoption of Sarbanes-Oxley Measures
This paper attempted to determine the extent to which clubs have adopted some of the various measures of the Sarbanes-Oxley Act. In order to make this determination, a study was conducted that involved 179 club executives. The club executives reported the extent that their clubs were in compliance with various aspects of SOX. In addition, the demographic data collected were analyzed in relation to the responses to the SOX provisions. This analysis determined whether the size of clubs in revenues and based on number of members and profitability impacted the adoption of various measures of SOX
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Enhanced Corporate Governance for Restaurant Companies: The Role of Well Performing Audit Committees
Corporate governance is a popular topic these days among public companies. The board of directors of McDonald’s Corporation in their statement of corporate governance states that “good governance is a journey, not a destination.” An important piece of baggage for this journey is a solid corporate audit committee policy, which fosters a well performing audit committee. In the 2009 corporate governance guidelines of Ruby Tuesday, the audit committee is one of three important committees listed to assist the board in fulfilling its responsibilities. In Burger King’s Fiscal 2009 Corporate Responsibility Report, they indicate that their auditing and compliance initiatives are integral in assuring that their extensive code of business ethics is maintained. This article examines the evolution, composition and duties of audit committees over the past thirty years. In addition it compares the basic audit committee policies and procedures of the Standard and Poor’s 100 Index (S&P 100) companies with those of the top fifty one restaurant companies from Value Line, Inc