Exercise 6. Money, Banking and Financial Management.

Money, Banking and Financial Management
Student's Name
Institutional Affiliation
Course Number
Professor's Name
Due Date
Answers
1. A. To track and document all financial transactions, i.e., income, investment, and benefit of a Hotel; it also entails the measurement of funds, obligations, or savings of the shareholders. The information helps the Hotel owners to monitor the daily operations and make an informed decision.
B. Oversees the process of financial planning, monitoring, budgeting, estimation, audit and monitor, reconciliation of assets and liabilities, working capital, and cash control. Responsible for the accounting staff's day-to-day functions, such as the planning and administration of hotel financial budgets, the execution, and oversight of all practices related to the Hotel's financial dimensions, under local tax regulations and even with the SOPs of the Hotel. The director also helps and link with the General Manager in achieving the Hotel strategic objectives. Lastly, ensure a fair accounting and organizational management environment to safeguard hotel properties (Zhai et al., 2015).
C. Hotel Owners or the shareholders. A shareholder can be an individual, corporation, or entity owning shares in the Hotel. The shareholder must possess at least one percent of the corporation's equity or investment fund to render it a partial member. Shareholders typically earn dividends declared if the Hotel is profitable and successful.
D. Other roles of director of finance within the finance department include; managing the accounting records developing suitable accounting reports, processing payroll for the hotel staff, supporting the subordinate staff under the department, control the procedures supporting financial stability, managing budget, and tracking expenses.
2. Wyndham Hotels & Resorts, Inc. currently trading at $58.06 per share capital and Common Stock (WH) -1.83 (-3.06%). The information is as of Monday, 7 December 2020, 2:42 PM ET (Source NASDAQ) (Wyndham hotels & resorts, Inc., 2020).
3. Money is any item commonly recognized as a medium of payment for p...