Accounting standards are ever evolving and our experienced team of accountants will ensure that all financial reporting obligations are fulfilled. We have considerable knowledge of all forms of reporting, including Irish Generally Accepted Accounting Principals (GAAP) and International Financial Reporting Standards (IFRS).

Tifco will tailor the reporting requirements around the needs of a particular stakeholder. Reports can be produced on a daily, weekly, or monthly basis and where applicable financial results will be compared to the Key Performance Indicators (KPI’s) as achieved in our other hotels. Financial performance analysis reports are produced for local management outlining the efficiency of their specific property which are benchmarked to similar properties within our group.

Examples of such reports which include budget and year on year trend analysis are as follows:

• Daily revenue reports with detailed statistical analysis such as occupancy, rate, covers analysis, etc.
• Weekly payroll reports including unit costs specific to each department
• Detailed monthly management accounts produced to strict deadlines which include P&L and balance sheet reports
• Cash flow statement
• Rolling forecasts prepared on a weekly/monthly basis

In addition to the above, all managers/supervisors have access to financial information specific to their hotel/department. This is facilitated through our Oracle ERP application by virtue of “executive dashboards” specifically designed for each hotel. Through these “dashboards” a manager can drill down to source documents using a point and click process.