608 Casino Accounting Module 6 Short Discussion
608 Discussion: Module #6
Need to answer following:
When analyzing operations do you believe it is more important to compare actual results or adjust to a normalized/theoretical value? Why or why not? Are there certain analyses that would be more valid with one or the other?
Module 6: Overview
Introduction
In order to evaluate the performance of any business, the operating results must be accurately and completed recorded. Then, the financial statements are generated internally for review and modification to future forecasting. Ultimately, if publicly traded, the results are communicated via an earnings announcement usually on a quarterly basis.
It is imperative that departmental leaders are capable to read and understand their P&L statements. The more understanding behind the operating results, the better decisions management is able to make to improve those results. Having a strong P&L understanding will also assist in analyzing and interpreting marketing/promotions/events.
This module will help you to review daily operating reports and other internal management tools to assess the performance of a gaming operation. In addition you will learn the main auditing concerns for complimentaries.
Learning objectives
After completing this module, you should be able to:
Analyze financial information in the casino to make managerial and budgeting decisions.
Interpret a daily operating report (DOR).
Interpret a marketing/promotion analysis.
Explain how complimentaries are accounted for and audited in a casino.
Read/view
Read chapter 14 in the textbook
Read “Additional Info Review Operating Results”
Read “The Role of Analysis in Gaming”
- Review “DOR Sample”
- Review “Day Comparison”
- Review “Marketing Sample” (there is a pdf and Excel version, both are the same). pdf easier to read on the screen, but Excel one great to use in your jobs
- Read “Auditing Comps”
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