Financial Role Of The Hospitality Industry

2011 Words9 Pages
ABSTRACT The Financial role is where the hospitality industry begins, it’s where a business can start to plan the process of buying a building or land to build on. Finance is where a business will begin to learn where the money is coming in and out. A financial manager is not just a job about money, it takes planning, time, patience, and accuracy. There is lots of money inside of the hospitality industry that is invisible money, that a company will physically never see. Without the financial role, a business would never be able to keep track of their profits and losses. Finance in the hospitality industry is one of the most, if not thee most important role inside the industry. The finance keeps the entity alive, keeps the business afloat. Without the finance department, the business would never know where they money was going, if they were positive or negative with other accounts payable. Finance is the management of large amounts of money. With this definition, finance is important because inside the hospitality industry they take in and push out large amounts of money. Without the role of finance, an industry would never know where the money is going, how to balance the money, and also in which areas the income should be spent. Functions, benefits, and growth of the company can solidify, but with the positives come the negatives in the role of finance inside the hospitality industry. Finance is more than about the physical amount of money in hand, it is about the money
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