Casino in The Business World

Just like any other industry in the business world, casino is also focused on profit. However, the undertakings that they take are varied and are more diverse as compared to other organizations. Casino indulges in so many various activities including restaurants, hotels and gambling of course. Gambling itself is already complex. It is comprised of a wide variety of games such as table games, card games and machine games. Casino is also considered an art in the context of converting money into playing chips and vice versa. As a licensed body, casino is also subjected to tax. In addition, there is an auditing done periodically to check the license continuity. This being said, casino requires a lot of hard work and study and it needs to be mastered for one to be able to build a strong foundation.

Casino also have a hierarchical structure like any other organizations. The top position is occupied by the casino owner or in some casino they do have the Board of Directors. In general, most casino hire lower managers that is responsible in taking care of the operations inside and outside the casino. This may include the finance manager, food manager, casino operations manager and among others. The number of managers and departments in a casino depends on the size of the establishment and the activities they undertake. A casino do have a distinct department which is the accounting department. This is due to the fact that casino have large cash flows every single day. The accounting department itself has its own structure which is comprised with five levels. This includes the financial managers, accountants, internal auditors, clerks and cashiers.

Accounting plays an important role in the casino. It aims to provide a proper and clean record of the cash flow. It also prevents the occurrence of theft by recording all the transactions done every single day. They are also responsible for analyzing data which contributes to the decision making. It is quite difficult to fulfill all the objectives enumerated since a report of all the transaction is done everyday and these transactions are really bulk.

One very important aspect of casino is the law. This is a set of rules and regulations being implemented inside the establishment. In which any act of disobedient to any of the stipulated rules and regulations are subjected to punishment. Players and all the staff under the casino establishment are required to follow the law.

 


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