Accounting and Financial Strategies and Practices in 5-Star Accommodation Businesses

Öz

In today’s world, organizations need to develop some strategies in order to adapt to environmental conditions and sustain their existence. Considering the importance of the financial situation of the organization in ensuring sustainability, it is possible to say that the accounting and finance department is of great importance. The aim of the research is to determine the accounting and finance strategies and practices carried out in 5-star accommodation establishments. The study group consists of 8 people working as managers in the accounting and finance departments of 5-star accommodation establishments operating in Konya. A semi-structured interview form was used to learn from the participants about the accounting-finance strategies and practices in their departments. According to the results of the content analysis, 10 themes were identified. According to the results, financial reporting and budgeting are used, SWOT analysis is used, economic conditions, budgeting, and organizational goals key factors in determining financial strategies. Various performance measurement methods and incentive systems are applied, while risk assessments and efficiency analyses are conducted to evaluate the effectiveness of process, and training and development programs are deemed beneficial.

Anahtar Kelimeler

• Strategic Management
• Financial Strategies
• Accounting and Finance
• Accommodation Businesses

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