A. Neal Geller

Graduate-Level Education: A Survey of Stakeholders

Abstract As part of the redesign of Cornells professional masters degree program, people with an interest in graduate business education were surveyed about the skills they consider important for career succes.

The hotel controller revisited

Its arguable that theres no such thing as a “typical” hotel controller. Nevertheless, this profile of hotel controllers and their properties is insightful and provides data beneficial to controllers and their employers alike

Financial Analysis Using the Statement of Cash Flows

Abstract The use of the statement of cash flow is a relatively new wrinkle in financial reporting. This statement, however, can be a useful management tool

Rule Out Fraud and Theft Controlling Your Food-Service Operation

Internal control is the set of policies, forms, and procedures that management establishes to prevent fraud and theft by employees or guests. Controlling food-service outlets presents special challenges, because a single person (the server) can control so much of the transaction. The key to effective internal control of food-service transactions is to divide these four functions among as many people as possible: (1) taking the order, (2) preparing the food, (3) delivering the food, and (4) settling the bill. Proper forms (e.g., guest checks that are accounted for by serial number after each shift) will help managers determine whether any revenue or food items are being diverted. While internal- control procedures can be used to detect fraud, the key to internal control is to prevent fraud or theft in the first place with effective and consistent policies.

Solvency, Financial Statements, and the Importance of Cash-Flow Information

The statement of changes in financial position, while useful to firms operating within an earlier financial environment, has become an anachronism today. The authors recommend a new financial statement—one that reflects changes in cash flows, rather than changes in working capital

Foreign-exchange sensitivity: how a strong currency weakens hotel revenues.

When a nations currency is strong, foreign travelers are discouraged from visiting that country, and natives are enticed abroad. How much does the current strength of the dollar affect American hotels?

Cash Management A Total System Approach For The Hotel Industry

A total system approach to cash management can produce savings through reduction of cash tied up in the system and earlier availability of cash received. Assume, for example, that a hotel chain could gain two additional days of activity for its average daily collection of

Graduate-Level Education

300,000: if the released funds could be invested at eight percent per year, the total annual savings would be

Cost Allocation: Under the Uniform System of Accounts for Hotels

48,000.

Inflation: Its Effects on Financial Statements

To evaluate the schools Master of Professional Studies (M.P.S.) program, the graduate faculty of the Cornell Hotel School surveyed hospitality-industry professionals, M.P.S. alumni, the schools graduate faculty, and incoming graduate students. All groups considered three skills important: leadership, the ability to identify problems, and organizing and writing skills. Four critical themes for success in the hospitality industry emerged from the executives and alumni: strategic or “big picture” orientation, communication, work and managerial styles, and leadership.