Controlling cash in casinos

Article Abstract:

The casino industry is compelled to implement special safeguards to prevent theft because it deals primarily in cash transactions. As a result, it has become the benchmark in the establishment of control standards for other cash basis industries. The basic elements of control for the gaming industry are physical controls, human controls and some conventional document controls. Physical controls include lock boxes, safes, cashiers' cages, keys, drop boxes and count rooms. People controls, on the other hand, involve the use of two or more people in a transaction and a separation of their duties. These procedures are usually observed in the cashier's cage, table areas and count room. Lastly, paper controls provide a trail of documentary evidence that are testable for compliance through inspection of transaction documents and records as well as signatures and stamps.

Coin-operated amusement devices, Casinos, Casinos (except Casino Hotels), Methods, Finance, Financial management, Cash management, Internal auditing, Cash basis accounting

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1993 student case competition

Article Abstract:

A case study addressing the problem of analyzing special events in a casino environment is presented. In this hypothetical case, TallTree Hotel Casino is trying to examine the contribution of sponsored special events and promotions in overall efforts to increase the casino's revenues. Based on this case, accounting students who wish to enter the Institute of Management Accountants's 1993 Student Case Competition are invited to evaluate a hypothetical casino's performance reporting system. In addition, students are asked to prepare an alternative reporting system that the casino can use in assessing the special events it sponsors. The competition is open to accounting students until Mar 15, 1993.

Tests, problems and exercises, Accountants

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Student case competition: Ohio State University and Rider College bring home a tie

Article Abstract:

The Institute of Management Accountant's first National Student Case Competition was held in Chicago on Jun 23, 1991. The competition attracted 32 teams from 31 colleges and universities. To qualify for the competition, student teams were required to submit videotaped presentations to the Board of Directors of a fictitious company named 'Freeport Industries.' The presentations were then graded and four teams were selected to compete in the second and final round. The competition was eventually won jointly by the teams representing Ohio State University and Rider College.

Colleges and universities, Column, The Ohio State University, Rider College

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