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Note: All monetary values are represented in U.S. dollars.
APPENDIX. ACCOUNT DESCRIPTIONSREVENUE ACCOUNTSRoom Rentals.Revenue derived from room rentals. It is the average daily rate times rentals.Revenue Allowance.Revenue allowances are refunds offered at the property at time of departure.Internet Access.Revenue derived from the sale of daily guest Wi-Fi/Internet access.Vouchers.Revenue from guests paying for their stay with guest vouchers.Laundry. Revenue from customer use of coin-operated laundry equipment (washer and dryer).Vending.Revenue received from customer purchases at on-site vending machines.EXPENSE ACCOUNTSGeneral Manager.Wages paid to the general manager. Managers receive free, on-site housing and utilities (electric, telephone, cable TV).Front Desk Staff.Wages paid to employees working the front desk for customer check-in.Total Housekeeping.Wages paid to employees that clean the rooms and clean laundry.Maintenance Wages.Wages paid to an on-site maintenance worker.Regional Maintenance Support.Wages for the regional maintenance person when on-site.Incentive Pay (Staff).Amounts paid to motivate employees. This is usually zero.Bonus Expense, General Manager. Bonus expense paid to the general manager when specific performance targets are met. Bonus amounts are fixed for each goal, and 90% of general managers receive their full bonus (bonuses are highly achievable).Payroll Tax Expense.Amounts paid for payroll taxes. It is 8.5% of amounts paid to employees.Vacation Expense.Amounts accrued to pay for the general manager’s vacation.Holiday Expense.Amounts accrued to pay for the general manager’s paid holidays.Staff Incentives.Amounts paid for anything that incentives hotel staff. For example, many general managers provide pizza parties on employee birthdays, or lunch on busy days.Employee Relocation Expense.Amounts paid to reimburse employees who relocate to a new property. This amount is usually zero, and the company only pays to relocate a general manager (a rare event).Employee Training.Amounts paid for employee training. Training is provided for general managers and managers-in-training.Workers Compensation.The amounts charged to workers’ compensation are based on expected insurance claim plus any expenses that develop over time. Amounts are actuarial estimates and, while budgeted by the general manager, the manager does not determine the amounts.Health Insurance.Amounts paid for employee group health insurance. Since benefits are provided after 6 months of service, most staff do not participate in the insurance plan. (This is because employee turnover in low-skill, hospitality jobs is very high; at the Amarillo property, turnover for housekeeping staff was 211% in the prior year.)Retirement Plan Contribution Expense.

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Term
Summer
Professor
N/A
Tags
Expense, general manager, Jack Smith

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