Accounting and Financial Management in Foodservice Operations

Accounting and Financial Management in Foodservice Operations

A concise and easy-to-follow guide to the principles of accounting and finance as they apply to running foodservice operations

Accounting and Financial Management in Foodservice Operations is an up-to-date and straightforward treatment of the financial standards and concepts owners and operators need to successfully run a foodservice operation.

Learn how to understand and assess the financial performance of a foodservice business by using professionally prepared financial reports. The book explains the Uniform System of Accounts for Restaurants (USAR), as well as how to read income statements, balance sheets, and statements of cash flows. It discusses how to calculate a break-even point and demonstrates pricing tips to help owner/operators create a profitable menu. Other contents include:

• A thorough introduction to controlling food and beverage product costs
• Practical discussions of how to manage the cost of labour and staffing, as well as how to prepare an accurate operating budget
• Hands-on strategies for comparing planned and budgeted operating results to actual financial results

Perfect for students in foodservice-related courses, Accounting and Financial Management in Foodservice Operations will also benefit foodservice establishment owners and operators and professionals working in colleges, hospitals, nursing homes, and more.