THE SIGNIFICANCE OF FINANCIAL STATEMENTS FOR FINANCIAL MANAGEMET OF HOTEL COMPANIES
Keywords:
financial management, accounting, financial statements, hotel companies
Abstract
The quality of the financial statements depends primarily on the extent to which the information contained therein is able to satisfy the needs of the financial management of hotel companies and external users. The information is contained in a set of financial statements, of which the balance sheet and the income statement are the basic ones. The purpose of this paper is to point out the relevant information from the financial statements of hotel companies which can be of significant impact both for the needs of managing the company, as well as for the future decisions of investors and other users. When it comes to managing a hotel company, the information from financial statements can be used not only for operational levels and shorter periods of time, but also for the needs of strategic management. The intent is to determine the direction of the observed relation of these two variables.
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References
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2. Alexander, D., Britton, A., Jorissen, A. (2005). International Financial Reporting and Analysis (Second Edition), Thomson Learning, London.
3. Alexander, D., Nobes, C. (2010). Financial Accounting – An International Introduction, Mate, Zagreb.
4. Anđelković, D. (2018). Accounting with analysis of financial statements: International approach, University of Novi Sad, Economic Academy, Novi Sad.
5. Anđelković, D., Vujić, M. (2019). The Impact of Service users’ satisfaction on Financial performance of Hotel enterprises. The Fourth International Scientific Conference "Tourism in function of development of the Republic of Serbia – Tourism as a Generator of Employment", Vrnjačka Banja, 4(2), 414-431.
6. Anđelković, D., Vujić, M., Liberakos, A., Zubac, D. (2018), The Impact of Relationship marketing with customers on the Financial performance of the sunflower oil manufacturers in Serbia. Economics of agriculture, Vol. 65, No. 1, 93-107.
7. Anđelković, D., Zubac, D. (2019). The Impact of Accounting Harmonization on Financial Statements Quality in Serbia. Economic Analysis, Vol. 52, No. 1-2, 128-137.
8. Anđelković, S., Ivkov (now Anđelković), D. (2013). Business Performance Analysis of the Corporation, University Union-Nikola Tesla, Belgrade.
9. Barth, E. M., Landsman, R. W., Lang, M., Williams, C. (2012). Are IFRS and US GAPP-based accounting amounts comparable?. Journal of Accounting and Economics, Vol. 54, 68-93.
10. Dmitrović-Šaponja, Lj., Milutinović, S. (2010). Possibilities for financial statement quality improvement in Serbia. 41st conference "The Possibilities and limitations of accounting profession development in Serbia", Zlatibor, 83-84.
11. Dmitrović-Šaponja, Lj., Petković, Đ., Jakšić, D. (2012). Accounting, Faculty of Economics, Subotica.
12. Đukić, T. (2007). Company cash flow reporting in the Republic of Serbia. Teme, Vol. 31, No. 2, 301-314.
13. Đukić, T., Trajčevski, M. (2012). Financial reporting on cash flows in cement industry in Serbia. Teme, Vol. 36, No. 1, 153-170.
14. Gupta, M. P., Shukla, S., 2002. Learning from Customer Relationship Management Implementation in a Bank. Global Business Review, Vol. 3, No. 1, 99-122.
15. Kothari, J., Barone, E. (2012). Financial Accounting – International approach, Data Status, Belgrade.
16. Kumar, V., Petersen, J. A. (2012). Statistical Methods in Customer Relationship Management, Wiley, Chichester.
17. Malinić, D. (2009). Cash Flow as an instrument for discovering business and financial risks. 36th conference "Accounting and business finance in modern business situation – situation and perspectives", Zlatibor, 48-49.
18. Marinković, V., Senić, V., Ivkov (now Anđelković), D., Dimitrovski, D., Bjelić, M. (2013). The antecedents of satisfaction and revisit intentions for full-service restaurants. Marketing Intelligence & Planning, Vol. 32, No. 3, 311-327.
19. Ranković, M. J. (2004). Company finances management, Faculty of Economics, Belgrade.
20. Stevanović, N., Malinić, D., Milićević, V. (2008). Management accounting, Faculty of Economics, Belgrade.
21. The International Accounting Standards Board. (2009). The International Financial Reporting Standards, The Association of Accountants and Auditors of Serbia, Belgrade.
22. The Law on Accounting, Official Gazette of the Republic of Serbia, No. 62/2013.
23. The Law on Accounting, Official Gazette of the Republic of Serbia, No. 30/2018.
24. The translation of the conceptual framework for financial reporting and basic IAS, i. e., IFRS texts, Official Gazette of the Republic of Serbia, No. 35/2014.
25. Trivedi, M., Sridhar, K., Kumar, A. (2016). Impact of Healthy Alternatives on Consumer Choice: A Balancing Act. Journal of Retailing, Vol. 92, No. 1, 65-82.
26. Yu, W., Ramanathan, W. Y., Nath, P. (2014). The impacts of marketing and operations capabilities on financial performance in the UK retail sector: A resource-based perspective. Industrial Marketing Management, Vol. 43, No. 1, 25-31.
27. Žager, K., Mamić Sačer, I., Sever, S., Žager, L. (2008). Financial statements analysis, Masmedia, Zagreb.
Published
2020-09-05
How to Cite
Anđelković, D. (2020). THE SIGNIFICANCE OF FINANCIAL STATEMENTS FOR FINANCIAL MANAGEMET OF HOTEL COMPANIES. Tourism International Scientific Conference Vrnjačka Banja - TISC, 5(1), 43-58. Retrieved from https://tisc.rs/proceedings/index.php/hitmc/article/view/328
Section
Articles
