凯悦酒店 财务操作手册（英）P531

1、530Hotel Finance Operations Manual HYATT INTERNATIONAL HOTELSHotel Finance DepartmentFinance© 1998 Hyatt International Corporation and its subsidiaries. Information contained herein is confidential and proprietary to Hyatt International Corporation and its subsidiaries.ContentsSingle-click on o

2、ne of the topics to go directly to that topic.Account DefinitionsChart of AccountsAccount ExamplesBusiness Plan / Budget GuidelinesFinancial StatementsGlossary of TermsAppendicesWhat's New Account DefinitionsIntroductionThe following account definitions apply to the Hyatt Standard Chart of Accou

3、nts. These account definitions are intended for use with hotel management statements and are intended to provide consistency and comparability within the hotel and between Hyatt hotels in accordance with the Uniform System of Accounts for the Lodging Industry (Ninth Revised Edition). Should legal or

4、 tax statements be required, then adjustments may be required in order to comply with Generally Accepted Accounting Principles (GAAP) in the country of residence. Should it be necessary to modify the following definitions, then these deviations must be documented and approved as required by policy 3

5、-010 (In House Policy & Procedure Manual).Balance Sheet The following Balance Sheet categories and captions are only a broad guideline. Hotels may need to add captions as required by their particular needs. However, all new captions must fall within the categories listed and as presented in the

6、standard Balance Sheet format.AssetsCashCash on Hand Cash on Hand Cash funds physically held in the hotel.Cash in Bank Cash in Bank Positive cash balances in all bank operating and current accounts.Time Deposit Time DepositTime deposits made in interest-bearing accounts held as short-term investment

7、s, not including any Time Deposit FF&E Funds.Clearing Accounts Clearing AccountsCaption used for account through which offsetting accounting entries originating from different subsystems are cleared. The balance of these caption must be zero at each month end.Accounts ReceivableAccounts Receivab

8、le - Trade Accounts Receivable - TradeAmounts due to the hotel arising out of revenue producing transactions. This caption should include amounts due on Guest Ledger and Rental Ledger as well as City Ledger. Floating Deposits and other material Credit Balances on Debtors' Accounts should not be

9、included in Accounts Receivable but should be reclassified under Guest Deposits.Accounts Receivable - Reserve for Doubtful Accounts Accounts Receivable - Reserve for Doubtful AccountsAmounts set aside to provide for anticipated bad debts which may extend beyond the current period. The reserve should

10、 be determined based on a periodic review of potential bad debts plus a general provision. Recovery of debts previously written off shall be credited to the reserve. The reserve will be deducted from Accounts Receivable - Trade to arrive at net Trade Accounts Receivable.Accounts Receivable - Hyatt H

11、otels and Companies Accounts Receivable - Hyatt Hotels and CompaniesAmounts receivable from Hyatt hotels and Hyatt related companies.Accounts Receivable - Others Accounts Receivable - OthersThose items which are not of a Trade Receivable nature. This caption includes down payments made to secure pur

12、chase orders. All items exceeding US$5,000 should be identified and listed separately on the accompanying schedule.InventoriesInventories - Saleable Merchandise Inventories - Saleable MerchandiseInventory items held for sale such as Inventory of Food, Inventory of Beverage, Inventory of Drugstore, e

13、tc.Inventories - Operating Supplies Inventories - Operating SuppliesInventories of all other operating supplies which are distinct from inventories of saleable items.Other Current AssetsPrepaid Expenses Prepaid ExpensesPrepaid Expenses are defined as payment for services and/or benefits yet to be pe

14、rformed or received. For example, when payments are made on annual billings for maintenance contracts such payments are for services to be rendered through the year and are properly classified as Prepaid Expenses. Prepaid expenses would normally include prepaid taxes and insurance. Sometimes payment

15、s for certain expenses which are normally prepaid, such as insurance, may be delayed and therefore accruals may have to be made. In such cases, the accrued amounts should be reflected under accrued liabilities and should not be offset against other prepaid expenses.Deferred Charges Deferred ChargesD

16、eferred charges are payments made for services or benefits already received. Where such services or benefits are expected to benefit future periods, the pro-rated value of such future benefits is carried forward under deferred charges. For example, when payment is made for a substantial advertising

17、campaign carried out in January, the benefit of which is considered to be received through a period of one year, such payment is classified as a deferred charge. For further details on Deferred Charges, see policy 4-043 (Provisions).Deposits - Current Deposits - CurrentDeposits paid as security, ref

18、undable within a period of one year.Barter Contracts Receivable Barter Contracts ReceivableThe value of all outstanding services, benefits, etc., to be provided by the party with whom the barter agreement has been entered into. When the hotel utilises the consideration given by the contracted party

19、this, caption should be credited and the appropriate expense caption debited. Policy 4-033 (Trade Advertising Agreements, Due Bills and Barter Agreements) requires that all Barter Agreements be recorded as a contra asset and liability (Barter Contracts Liability) upon the signing of the Barter Agree

20、ment.Sundry Current Assets Sundry Current Assets Other items that are expected to be realised in cash or consumed in the normal operating cycle of the business and are not classifiable under any of the other Current Asset captions. All items exceeding US$5,000 should be identified and listed separat

21、ely on the accompanying schedule.Non Current AssetsCash Fund - FF&E Cash Fund - FF&E Time Deposits made in respect of the FF&E Fund as required by the Management Agreement.Deferred - Non Current Deferred - Non Current Deferred Charges which are to be expensed over a period greater than o

22、ne year.Deposits - Non Current Deposits - Non Current Refundable deposits paid as security, refundable after a period one year. Deposits made in connection with provision of utilities such as electricity, telephone, etc. would be included in this caption.Special Projects Special Projects Substantial

23、 expenditures for a major renovation which should be accounted for as FF&E and/or Repairs & Maintenance, but where there are limited funds or budget provisions available. Prior written approval must be obtained from the Divisional Vice President, and if applicable from the Owners. The approv

24、al will include the agreed method of funding and accounting treatment (expense, capitalisation and amortisation.).Fixed Assets Fixed assets inclusive of furniture, fixtures and operating equipment are not normally accounted for in the hotel's Books of Accounts. In the event that this is a requir

25、ement of the Management Agreement the Balance Sheet would also include Fixed Assets. The format in such cases must be approved by the Divisional Director of Finance.LiabilitiesBank Overdraft and Loans Bank Overdraft and Loans All bank accounts with a negative balance due to overdraft or loan arrange

26、ments should be listed under this caption.Accounts PayableAccounts Payable - Trade Accounts Payable - Trade All amounts due to vendors for supplies, inventory items, equipment and other purchases made in the normal course of business including items which have been received without an invoice.Accoun

27、ts Payable - Hyatt Hotels and Companies Accounts Payable - Hyatt Hotels and Companies Amounts payable to Hyatt hotels and Hyatt related companies.Accounts Payable - Others Accounts Payable - Others Any amounts due that do not fit into the Accounts Payable - Trade or Accounts Payable - Hyatt Hotels a

28、nd Companies captions or into the Accrued Liabilities captions. All items exceeding US$5,000 should be identified and listed separately. Items commonly included in this caption would include taxes withheld, service charge payable and tips payable.Accrued LiabilitiesAccrued Liabilities - Salaries and

29、 Wages Accrued Liabilities - Salaries and Wages Accruals made for salaries and wages.Accrued Liabilities - Employee Benefits Accrued Liabilities - Employee Benefits Accruals for bonus, vacation pay and other benefits payable to employees within a year. Reserves made for benefits payable to employees

30、 in the long term such as retirement pay reserve and severance pay reserves should not be included in this caption but should be reflected under Reserves.Accrued Liabilities - Payroll and Income Taxes Accrued Liabilities - Payroll and Income Taxes Accruals for Payroll and Income Taxes both deducted

31、from Employees' salaries and payable by the hotel.Accrued Liabilities - Management Fees Accrued Liabilities - Management Fees Management Fees outstanding as at the balance sheet date.Accrued Liabilities - Others Accrued Liabilities - Others All other accrual liabilities that do not fall under an

32、y of the other Accrued Liabilities captions. Any amounts over US$5,000 should be listed and described separately on an accompanying schedule.Other Current LiabilitiesGuest Deposits Guest Deposits All amounts received from hotel guests and travel agents as an advance booking deposit. A schedule showi

33、ng name of guests, date of arrival and amount of deposit should always be updated and available on the hotel premises. Refundable Fitness Centre Membership Initiation Fees may also be credited to this caption.Barter Contracts Liability Barter Contracts Liability The value of all outstanding services

34、, benefits, etc. to be provided to the party with whom the barter agreements has been entered into. When the contracted party utilises the consideration given by the hotel, the Barter Contracts Liability caption should be debited and the applicable revenue caption credited. Policy 4-033 (Trade Adver

35、tising Agreements, Due Bills and Barter Agreements) requires that all Barter Agreements be recorded as a contra asset (Barter Contracts Receivable) and liability upon the signing of the Agreement. Any unutilised balance on expiry of the agreement must be credited to Other Income and Rentals - Miscel

36、laneous Income.Deferred Income Deferred Income Amounts received from customers which are contractually payable in advance for services to be rendered in the future such as gift certificates, annual subscriptions to the Fitness Centre, supper clubs, Club at the Hyatt membership profit (where the memb

37、ership sales are handled by a third party - see policy 4-054, Club at the Hyatt).Sundry Liabilities Sundry Liabilities Other current liabilities which cannot be classified under any of the accounts payable, accrued liabilities or other current liabilities captions. Any amount over US$5,000 should be

38、 listed and described separately on an accompanying schedule.ProvisionsProvision - Replacement of Operating Equipment Provision - Replacement of Operating Equipment The unexpended amount provided for the replacement and addition of Operating Equipment. For further details, see policy 4-043 (Provisio

39、ns).Provision - Repairs & Maintenance Provision - Repairs & Maintenance The unexpended amount provided for major repair and maintenance projects. For further details, see policy 4-043 (Provisions).Provision - Others Provision - Others The unexpended amount provided for other major expenditur

40、es such as advertising. Any amount over US$5,000 should be listed and described separately on an accompanying schedule. For further details, see policy 4-043 (Provisions).ReservesReserve - Replacement of FF&E Reserve - Replacement of FF&E The balance available in the FF&E Fund which is n

41、et of all purchases made as of the balance sheet date.Reserve - Employee Benefits Reserve - Employee Benefits Reserves made for Benefits payable in the long term such as retirement benefits, severance pay, etc. Note that amounts provided for vacation pay are considered accruals and are properly clas

42、sified under Accrued Liabilities - Employee Benefits.Reserve - Special Projects Reserve - Special Projects Reserves made for special projects in order to finance particular and specified expenditures. Special project reserves must have prior approval of the owners and the corporate Vice President -

43、Hotel Finance. The use of reserves has been specified in policy 4-043 (Provisions). A reconciliation of the accounts should be shown in an accompanying schedule.Owners EquityLong Term AccountInitial Working Capital Initial Working Capital The amount of capital provided by the Owners at the opening o

44、f the hotel. Initial Working Capital will be equal to the net total of Assets less Inventories less Liabilities. This figure will not change at any time during the period of the Management Agreement unless by letter of agreement between all parties. Additional working capital funds provided by the o

45、wner during the period of the Agreement should also be charged here and should be identified accordingly. The historical value in US dollars must be maintained in the US dollar balance sheet.Initial Inventories Initial Inventories The value of initial inventories supplied by the Owners at the openin

46、g of the hotel. This caption includes the value of both saleable merchandise and operating supplies inventories. The historical value in US Dollars for these items must be maintained on the US Dollar balance sheet.Special Funds Special Funds All amounts advanced by the Owners for a temporary period

47、of time in order to finance particular and specified expenditures. This includes such items as Special Project Funds and Pre-opening Funds that have to be reimbursed to the Owners.Current AccountBalance Brought Forward from Previous Year Balance Brought Forward from Previous Year The outstanding Cur

48、rent Account amount payable or receivable from the Owning Company as at the end of the previous accounting year. The amount will, therefore, remain constant throughout the current accounting year.Profit Year-to-Date Profit Year-to-Date Owner's Share of Profit earned for the year as at the Balanc

49、e Sheet date. This should balance to the Owners Share of Profit caption on the Comparative Statement of Income and Expense.Withdrawal of Profit Share and Other Charges Withdrawal of Profit Share and Other Charges The value of all payments made to the Owners or made on behalf of the Owners during the

50、 current accounting year inclusive of the Owners Share of Profit payments. The amount will be deducted from the subtotal arrived at by adding the Balance Brought Forward and Profit Year-to-Date.Cumulative Gain or Loss on Foreign Currency Translation Cumulative Gain or Loss on Foreign Currency Transl

51、ation The amount of foreign exchange difference between the prevailing and historical rate due to the conversion of the Balance Sheet into a currency other than that in which the accounts are maintained in accordance with policy 4-035 (Translation of Financial Statements). Note that foreign exchange

52、 gains or losses resulting from revaluation of foreign currency monetary items on the local currency statements, although not realised, are to be recorded not on the Balance Sheet, but as Foreign Exchange Earned income in accordance with policy 4-058 (Foreign Exchange Gain/Loss on translation of For

53、eign Currency Assets/Liabilities).Comparative Statement of Income and Expense The Comparative Statement of Income and Expense summarises the financial performance of the hotel both by month and year-to-date. It also presents Management Fees and Owner's Share of Profit in accordance with the Mana

54、gement Agreement. The percentages shown in the Income and Expense statements are as follows:RevenueThe percentages shown against each divisional Revenue should be percentages of Total Revenue.Operating Divisional ExpensesThe percentages shown against each divisional expense should be percentages of

55、the revenue of that particular division and not of Total Revenue.In the case of columns totals, i.e., Total Payroll, Total Cost of Sales and Total Other Expenses, etc., the percentages should be percentages of Total Revenue.Overhead Divisional ExpensesThe percentages in all cases should be a percent

56、age of Total Revenue.House Profit, Other Deductions, Gross Operating Profit, Owners Share of Profit, Management Fees, Total Payroll and Related Expenses.All of the above categories should reflect a percentage of Total Revenue.All the categories up through the House Profit line are self explanatory a

57、nd the amounts to be shown are extracted from the Divisional Income and Expense statements which are highlighted later in this chapter. The categories after House Profit are addressed in detail as follows:Other DeductionsAmortisation and Depreciation Amortisation and Depreciation Any Special Project

58、 amortisation and fixed asset depreciation in accordance with the Management Agreement or with the approval of the Owner and Divisional Vice President.InsuranceInsurance - Comprehensive General Liability Insurance - Comprehensive General Liability Insurance premiums on liability policies relating to operations including Public Liability, Fidelity Insurance, Boiler,