Establishment And Improvement Of Hotel Internal Control System

In recent years, the financial sector enterprises attach great importance to the theoretical study of internal control, for internal control play an important role in enterprises management level improvement, risk prevention capacity, and sustainability e development promotion, as well as the safeguard of social public interest. However, theoretical studies of internal control most emphasis on the manufacturing industry, rarely setting foot in hotel industry. The main production of hotel industry service, which is diversified, multi-links, and uncertainty on the content, so vulnerabilities like to arise from management. Hotels, especially of high-grade-star hotel, are comprehensive, wide range of services, which almost cover all services and commercial sectors. Operating hotel is regarded as the most difficult industry.Internal control, implemented by board of directors, board of supervision, managers and the all staff, is process which aimed to achieve control objectives. The objectives of internal control is to assure the operation legality, asset security, the truth & integrity of financial reports and related information, to improve operational efficiency and effectiveness, and realize enterprise’s development strategy. Fine internal control can significantly reduce error and fraud, assure assets security, and reduce the risk to a reasonable level. From domestic hotel industry, although the internal control is in a very important and special position, the strength of control is generally weak. Control system is lack of systematize and integrity. In market economy, the effectiveness of internal control plays a key role in improving management level, enhancing the market competitiveness, ensuring the safety of hotel funds.This paper’s basic though is to analyze the existing problems in five control systems of three-star JY hotel based on the introduction of six major internal control systems (budget control system, sales and accounts receivable control system, procurement and accounts payable cost control system, financing and investment currency control system、currency control system) with relative theories, programs as well as methods. This paper gives proposals for the establishment and improvement of JY hotel’s internal control by pointing out the key control points such as the authorization approval control, sale and delivery control, supervisory control, etc.This article is divided into five chapters. the main contents and opinions are:The first chapter:IntroductionThe second chapter:the analysis of present JY hotel, including the hotel’s basic situation, structure, five cycle systems of internal control and the problems.The third chapter:internal control theories, including American internal control, COSO reports, Chinese Basic Criterion of Enterprise Internal Control.The fourth Chapter:Conclusions and recommendations. Based on relevant theories, this chapter put forwards the operation characteristics of hotel industry, the principals of internal control, the contents of internal control, and the limit of the internal control system.The Fifth chapter:the establishment and improvement of hotel internal control system.In recent years, JY hotel strengthens the internal management, Based on the analysis of five major internal control system analysis of JY hotel, it is hoped to give an attention for domestic hotel industry internal control...