Posts by Kevin Huddleston
Financial Realities and Re-Opening Strategies
What are some financial realities we are facing in our third week of casino closures and what does long-term recovery look like? What processes can be changed now to prepare for reopening? For our second episode of Raving On Air, we asked Kevin Huddleston, CPA, CGMA, CFF, Partner, Finley & Cook, about reopening predictions, inventory management and the…
Read MoreUnderstanding Key Financial Statements – Part II
A deeper look at your balance sheet In Part I of “Understanding Casino Financial Statements,” we discussed that two things are needed to understand financial reports, perspective and expectations. You have to have something to measure the numbers against to really evaluate what they are telling you. Then we started building some perspective by looking…
Read MoreIRS sets start date for tax season – what this means for casinos
This article was originally published by The Journal of Accountancy by Alistair M. Nevius on January 7, 2019. When the IRS will start paying refunds The IRS announced on Monday evening that it is prepared to start processing 2018 tax returns on Jan. 28 and that it will pay tax refunds despite the partial shutdown of…
Read MoreGaining a Deeper Insight Into Casino Performance
Perspectives and expectations of financial reports Understanding financial statements is not just a role reserved for bean counters, CFOs and your casino’s GM. It’s important that anyone who wants a seat at the table, whether today or as their career grows, is confident in understanding these reports. In two previous articles, we’ve looked at the…
Read MoreIncreasing High-Level Performance Company-Wide
When do you know if you’re only attaining minimum standards? I’m sure most of you have heard it said that sometimes you have to tear something down in order to build it up. It seems harsh and a little counterintuitive. It’s a concept used in athletic and military training. The idea is that to make…
Read MoreMid-Year Alert – Six Ways to Stay Ahead of Your Year End Audit
Spring cleaning for your next audit Trees are budding. Grass is turning green again. Spring is in the air. It’s time to start our spring cleaning and yard work to mend things from the effects of winter. This can also be a good time to do the same thing in our financial and operational “house”…
Read MoreFour Things to Consider Before You Consider Consultation Help
How to manage this outside resource to your benefit Have you ever tried to complete a really difficult puzzle? One that has an area that does not really have a picture, and it’s just a big section of the same color? Sometimes, operating a casino may have the same feel. There may be an area…
Read MoreNo One Likes Tax Season: Why Our Casinos Can Make It Worse For Our Guests
Everyone’s favorite season has just kicked-off! Wait, football season is over!? That’s right; it’s tax season (collective groan). Even us accountants have a bit of dread for tax season. No doubt players club team members, hosts and slot attendants have a similar dread. Every year there are guests that are unhappy about the tax-related information…
Read MoreUnderstanding Key Financial Statements …
To make critical decision for your casino operation This may sound weird to many of you, but I LOVE to read and analyze financial statements. I always have. As I understand it though, I am in a very small minority. Many gaming commissioners, board members, tribal council members, and even casino management don’t fully understand…
Read MoreMarketing: A Foreign Language to Finance Folks
Five ways to bridge the gap between CFOs and marketing departments The gap between CFOs and marketing departments is often much wider than it needs to be. The CFO is trying to make sure the operation is making money, and the marketing department just wants to spend it, right? Here are five suggestions to begin…
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