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Casino Financial Controls: Tracking the Flow of Money

Casino Financial Controls: Tracking the Flow of Money
Author: Steve Durham - Kathryn Hashimoto Ph.D.
ISBN 13: 9780131748095
ISBN 10: 131748092
Edition: 1
Publisher: Pearson
Publication Date: 2009-03-20
Format: Paperback
Pages: 176
List Price: $87.20

Every manager and supervisor must be financially literate in order to advance their career in casino management. Managing expenses, a key aspect of performance reviews for managers, relies heavily on the ability to read financial statements. Since there is cash and cash equivalents moving around the casino facility like in no other business, the need for financial literacy is critical in the casino industry. Money exchanges hands at gaming tables and at the cage. Employees assume responsibility for banks and chip racks worth thousands of dollars. Extending credit and issuing comps have a material effect on the profitability of casinos. Money is everywhere and controls must be in place to avoid theft and embezzlement. Incredibly easy-to-understand, Casino Financial Controls: Tracking the Flow of Money gives solid explanations of accounting principles as well as examples of accounting entries. Examples of procedural controls and the reasons for each control are also included and explained in pragmatic terms. The criteria for extending credit or issuing comps are used to avoid serious damage to the bottom line. In addition, pictures and illustrations are included to help the reader to better visualize the reality behind the words.