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  • Accounting for the furniture, fittings & equipment reserve in hotels

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    65413_1.pdf (177.0Kb)
    Author(s)
    J. Turner, Michael
    Guilding, Christopher
    Griffith University Author(s)
    Guilding, Christopher J.
    Year published
    2010
    Metadata
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    Abstract
    The somewhat idiosyncratic accounting procedure of maintaining reserves to fund furniture, fittings and equipment (FF&E) capital expenditure in hotels mediated by a management contract is examined. Five research objectives have been pursued: 1) ascertaining contrasting motives of owners and operators with respect to FF&E reserve accounting; 2) determining FF&E reserve accounting approaches adopted in hotels; 3) determining the amount assigned to FF&E reserves in hotels; 4) determining the sufficiency of FF&E reserves in hotels; and 5) appraising the degree of ease with which hotel operators can draw on FF&E reserve funds. ...
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    The somewhat idiosyncratic accounting procedure of maintaining reserves to fund furniture, fittings and equipment (FF&E) capital expenditure in hotels mediated by a management contract is examined. Five research objectives have been pursued: 1) ascertaining contrasting motives of owners and operators with respect to FF&E reserve accounting; 2) determining FF&E reserve accounting approaches adopted in hotels; 3) determining the amount assigned to FF&E reserves in hotels; 4) determining the sufficiency of FF&E reserves in hotels; and 5) appraising the degree of ease with which hotel operators can draw on FF&E reserve funds. These objectives have been pursued through the analysis of qualitative field data as well as survey data collected in Australia and New Zealand. The study's more significant findings include the determination that, consistent with the wishes of operators, maintaining cash funded FF&E reserves is the most popular approach (particularly in small hotels). It has also been found that FF&E reserves are 40% underfunded. This deficiency beckons a question over whether hotel FF&E reserve accounting serves any meaningful role.
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    Journal Title
    Accounting & Finance
    Volume
    50
    Issue
    4
    DOI
    https://doi.org/10.1111/j.1467-629X.2010.00347.x
    Copyright Statement
    © 2010 Blackwell Publishing. This is the author-manuscript version of the paper. Reproduced in accordance with the copyright policy of the publisher.The definitive version is available at http://onlinelibrary.wiley.com/
    Subject
    Management Accounting
    Applied Economics
    Accounting, Auditing and Accountability
    Banking, Finance and Investment
    Publication URI
    http://hdl.handle.net/10072/35103
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    • Journal articles

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