Quan ly Dong tien
Tong quan Module
"Revenue is vanity, profit is sanity, but cash is reality." Cau noi noi tieng nay tom gon tam quan trong cua cash flow. Mot khach san co the co loi nhuan tren so sach nhung van pha san neu khong co du tien mat. Module nay se giup ban hieu va quan ly dong tien hieu qua.
Muc tieu hoc tap
- Phan biet Profit vs Cash Flow
- Hieu cau truc Cash Flow Statement
- Quan ly Working Capital hieu qua
- Du bao va monitor cash position
- Xu ly cash flow challenges
1. Profit vs Cash Flow
Nhieu nguoi nham lan giua Profit (Loi nhuan) va Cash Flow (Dong tien). Hieu ro su khac biet nay la cuc ky quan trong!
| Khia canh | Profit | Cash Flow |
|---|---|---|
| Dinh nghia | Revenue - Expenses (accrual basis) | Cash In - Cash Out (cash basis) |
| Timing | Khi giao dich xay ra | Khi tien vao/ra thuc te |
| Vi du | Da ban phong, cho thu tien | Da nhan tien vao bank |
| Bao cao | Income Statement | Cash Flow Statement |
Vi du quan trong:
Tinh huong: Khach san ban phong cho cong ty 100 trieu VND vao ngay 15/6. Cong ty se tra tien vao 30/7 (payment term: 45 ngay).
- Profit: Ghi nhan 100 trieu revenue vao thang 6 (khi service cung cap)
- Cash Flow: Chi co cash inflow 100 trieu vao thang 7 (khi nhan tien)
Van de: Thang 6 co profit nhung KHONG CO TIEN de tra luong, mua hang! Day la ly do tai sao cash flow quan trong hon profit!
2. Cash Flow Statement
Cash Flow Statement (Bao cao Luu chuyen Tien te) cho biet tien vao/ra tu 3 hoat dong chinh:
2.1. Ba loai Cash Flow
| Loai | Mo ta | Vi du |
|---|---|---|
| Operating CF | Tien tu hoat dong kinh doanh hang ngay | Thu tu khach, tra luong, mua hang |
| Investing CF | Tien tu mua/ban tai san dai han | Mua FF&E, renovations, CapEx |
| Financing CF | Tien tu vay no va von chu | Vay bank, tra no, nhan von owner |
Quan trong: Operating Cash Flow la chi so quan trong nhat! No phai DUONG va du de cover debt service + CapEx.
2.2. Vi du Cash Flow Statement
CASH FLOW STATEMENT SO LIEU (M)
─────────────────────────────────────────────────────────
OPERATING ACTIVITIES
Cash received from guests 5,800
Cash paid to suppliers (1,200)
Cash paid to employees (2,400)
Other operating cash payments (800)
NET OPERATING CASH FLOW 1,400
INVESTING ACTIVITIES
Purchase of FF&E (500)
NET INVESTING CASH FLOW (500)
FINANCING ACTIVITIES
Loan repayment (300)
NET FINANCING CASH FLOW (300)
NET CHANGE IN CASH 600
Ket luan: Operating CF (+1,400M) du manh de cover ca Investing (-500M) va Financing (-300M). Cash position tang 600M - rat tot!
3. Working Capital Management
Working Capital = Current Assets - Current Liabilities. Day la von luu dong can thiet de van hanh hang ngay.
3.1. Components cua Working Capital
Current Assets (Tai san ngan han):
- Cash & Bank: Tien mat, tien gui ngan hang
- Accounts Receivable: Khach no (da ban chua thu tien)
- Inventory: Hang ton kho (F&B, amenities)
Current Liabilities (No ngan han):
- Accounts Payable: Nha cung cap phai tra
- Accrued Expenses: Chi phi phai tra (luong, utilities)
- Guest Deposits: Tien dat coc cua khach
3.2. Quan ly Working Capital hieu qua
| Khoan muc | Muc tieu | Hanh dong |
|---|---|---|
| Receivables | Thu tien NHANH | Follow up aging AR, credit terms ngan |
| Inventory | Giu o muc THAP | JIT ordering, track par levels |
| Payables | Tra tien CHAM (hop ly) | Negotiate 30-60 day terms |
Nguyen tac vang: Thu tien NHANH, Tra tien CHAM, Ton kho THAP = Cash flow tot!
4. Key Takeaways
Diem quan trong can nho:
- Profit khac Cash: Co the profitable nhung thieu cash
- Operating Cash Flow la chi so quan trong nhat - phai duong
- Cash Flow Statement co 3 phan: Operating, Investing, Financing
- Working Capital = Current Assets - Current Liabilities
- Thu nhanh, tra cham, ton kho thap = nguyen tac vang
Chuyen sang Module 8: Capital Expenditures & PIP