Casino Financial Controls Tracking the Flow of Money

ISBN-10: 0131748092
ISBN-13: 9780131748095
Edition: 2010
Buy it from $56.33
This item qualifies for FREE shipping

*A minimum purchase of $35 is required. Shipping is provided via FedEx SmartPost® and FedEx Express Saver®. Average delivery time is 1 – 5 business days, but is not guaranteed in that timeframe. Also allow 1 - 2 days for processing. Free shipping is eligible only in the continental United States and excludes Hawaii, Alaska and Puerto Rico. FedEx service marks used by permission."Marketplace" orders are not eligible for free or discounted shipping.

30 day, 100% satisfaction guarantee

If an item you ordered from TextbookRush does not meet your expectations due to an error on our part, simply fill out a return request and then return it by mail within 30 days of ordering it for a full refund of item cost.

Learn more about our returns policy

Description: Every manager and supervisor must be financially literate in order to advance their career in casino management. Managing expenses, a key aspect of performance reviews for managers, relies heavily on the ability to read financial statements. Since  More...

Used Starting from $56.33
what's this?
Rush Rewards U
Members Receive:
coins
coins
You have reached 400 XP and carrot coins. That is the daily max!

Study Briefs

Limited time offer: Get the first one free! (?)

All the information you need in one place! Each Study Brief is a summary of one specific subject; facts, figures, and explanations to help you learn faster.

Add to cart
Study Briefs
Periodic Table Online content $4.95 $1.99
Add to cart
Study Briefs
Business Ethics Online content $4.95 $1.99
Add to cart
Study Briefs
Business Law Online content $4.95 $1.99

Customers also bought

Loading
Loading
Loading
Loading
Loading
Loading
Loading
Loading
Loading
Loading

Book details

Copyright year: 2010
Publisher: Pearson Education, Limited
Publication date: 3/10/2009
Binding: Hardcover
Pages: 176
Size: 7.50" wide x 9.00" long x 0.25" tall
Weight: 0.594
Language: English

Every manager and supervisor must be financially literate in order to advance their career in casino management. Managing expenses, a key aspect of performance reviews for managers, relies heavily on the ability to read financial statements. Since there is cash and cash equivalents moving around the casino facility like in no other business, the need for financial literacy is critical in the casino industry. Money exchanges hands at gaming tables and at the cage. Employees assume responsibility for banks and chip racks worth thousands of dollars. Extending credit and issuing comps have a material effect on the profitability of casinos. Money is everywhere and controls must be in place to avoid theft and embezzlement. Incredibly easy-to-understand,Casino Financial Controls: Tracking the Flow of Money gives solid explanations of accounting principles as well as examples of accounting entries. Examples of procedural controls and the reasons for each control are also included and explained in pragmatic terms. The criteria for extending credit or issuing comps are used to avoid serious damage to the bottom line. In addition, pictures and illustrations are included to help the reader to better visualize the reality behind the words.This book is aimed at the non-financial managers who need to know the basics of casino financial controls.

Preface
Acknowledgments
Introduction
The Need for Financial Controls
The History of Financial Controls in American Casinos
Harrah and Financial Controls
The Casino Business as a Cash Business
Unique Terms
The Importance of Hold
Types of Controls
Traditional Controls
Accounting Controls
Comp Controls
Credit Controls
Terminology
Introduction
Drop
Modern Slots and Drop
TITO
Paid Out
Hold
Profit and Loss
Further Terms
House Advantage
Explaining House Advantage
Determining Winners
Random-Number Generators
Additional Terms
Hold Percentage
Hold
Hold Percentage
Amount Wagered versus Drop
Drop Team
Fills
Theoretical versus Actual Hold Percentage
Keno, Bingo, and Racebook
Using the Hold Percentage as a Control
Cheating
Controls in Place
Introduction
Manual Procedures
Public Forms of Manual Procedures
Manual Procedures for Dealing
Signatures
Separation of Duties
Multiple Employee Involvement
Surveillance
Duplicate/Triplicate Forms
Cash Countdowns
Digital Trail
Man Trap
Supervisory Oversight
Technology's Impact
Paper Trail of Revenue and Payouts
Introduction
Forms
Fills
The Fill Process
Slot Fills
Credits
Wager Documentation
Keno
Race and Sportsbook
Bingo
Impact of Technology
Paper Trail Uses
Conversion of Financial Data into Financial Statements
Introduction
Definitions
From the Floor to the Accounting Department
"21"
Cocktail Service
Payroll
Analysis of Financial Statements
Introduction
Financial Statement Structure
Basic Statement Structure
Prior Year and Budget
Variance Analysis
Small Variances Add Up
Overstaffed or Overscheduled
Other Key Ratios
Purpose and History of Comps and Credit
Introduction
Definitions
Comps
Credit
Markers
History of Comps
Slot Clubs
History of Credit
Criteria for Issuing Credit
Introduction
Criteria for Issuing Credit
Income
Assets
Cash on Deposit
Credit
Marker Play
Repayment
Collections
Legality of Markers
Criteria for Offering Comps
Introduction
Determining Player Worth
The Importance of House Advantage
The Importance of Average Betting
Comp Method
Slot Comps
Redemption
Method of Redemption
Impact of Comps and Credit on Financial Results
Introduction
Transfer Pricing
Impact of Comps on the Profit/Loss Statement
Retail Method of Transfer Pricing
Cost Method of Transfer Pricing
Impact of Comps on the Receiving Department
Controlling Comps
General Methods of Control
Targeted Comp Amounts
Other Methods
Impact of High-Limit Play on the P/L Statement
Examples of the Impact of High-Limit Play
Conclusion
Introduction
The Reason for Controls
Review of Key Terms
Financial Statements
Expenses
Conversion into Financial Information
Managing Comps and Credit
Author's Biography
Index

×
Free shipping on orders over $35*

*A minimum purchase of $35 is required. Shipping is provided via FedEx SmartPost® and FedEx Express Saver®. Average delivery time is 1 – 5 business days, but is not guaranteed in that timeframe. Also allow 1 - 2 days for processing. Free shipping is eligible only in the continental United States and excludes Hawaii, Alaska and Puerto Rico. FedEx service marks used by permission."Marketplace" orders are not eligible for free or discounted shipping.

Learn more about the TextbookRush Marketplace.

×