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Summary MAC hotel management school Maastricht. First year Module 3.
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Exam Management Accounting – Julian Braun- Financial transactions 50% page 2. 3. 4, 5
- Cash management 10% page 6, 7
o Cash conversion cycle
o Cash receipts
o Cash budget
- RATIO/USALI 20% page 8 till 11
- HOSTA/ STR: Benchmarking 10% page 12
- Franchise 10% page 13, 14
START WITH QUESTION 2, 3, 4, 5, then 1
Good to know:
1 2 3 4
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov dec
Examples in questions:
Sales = verkoop
Revenue = omzet
Totally issued = you spend everything
Complementary = free
Downpayment = aanbetaling
Salvage value= rest waarde
Revenues = sales = turnover (top line)
Profit = earnings = income (bottom line)
Good to know:
Only during eat/sleep/drink you have an OE
Repayment only happens in the month that you are in, otherwise not
Excl and incl VAT
Revenues = you receive excl. OE
Expenses = you pay incl VAT
Operating efficiency = other word for GOP
It is stated that on the short term liquidity is more important than profitability. Explain
the reasoning behind this statement.
- If you have no more money to pay your bills and other short term debts, then you
simply go bankrupt and there is no longer a long term. And if a company doesn’t
make profit for a short period that is not nice, but as long as there is cash flow it will
be able to pay their short term debts
Solvency more important that profitability for a bank?
- Because it gives an indication of risk for a bank of granting a loan to a company
1
, Balance sheet = snapshot, Now Income sheet =overview of a year USALI
- Always needs to be equal
Debit (bezittingen) what you own Credit (schulden) what you owe
Fixed assets: things we use longer than Owners Equity (OE) (always give a name)
one year - Private (when owners does a
- Land withdraw)
- Building - Savings/investors
- FF&E, Fixed furniture & equipment - Retained earnings (ingehouden,
- Goodwill (brand value, customer profits you keep in your company)
base)
Long term liability: (schulden langer dan
jaar)
- Mortgage (hypotheek)
Current assets: things we use once or use Current /short-term liabilities:
for a maximum of one year - Advanced deposit (revenue)
- Accounts receivable (revenue) - Accounts payable (only inventory)
- inventory (only accounts payable) - Accrued expenses
- Prepaid expenses - VAT payable
- C/B
- VAT receivable
1. Revenues go up – profits go up – retained earnings go up – OE goes up
2. Expenses go up – profits go down – retained earnings go down – OE goes down
REVENUES and purchases= past present future
Revenue happens at the moment you provide: EATING/SLEEPING/DRINKING
- Then you have an OE
- NOT when you receive cash (CB/ Cash bank)
- Purchase of inventory = there is no OE
For revenue if a difference occurs in OE and CB, you can compensate the difference with
two:
1. Accounts receivable (current assets): cash you still need to receive from your
guest LEFT SIDE
2. Advanced deposit – (current liability): cash you already received beforehand, but
we still need EATING DRINKING SLEEPING
- If you get cash before you create a dept bc you don’t do anything
- Past = advanced deposit RIGHT SIDE
- Present = C/B
- Future = Accounts receivable LEFT SIDE
2
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