Provides a practical and applied approach to managing costs for foodservice managers and students
For foodservice managers to control costs effectively, they must have a firm grasp of accounting, marketing, and legal issues, as well as food and beverage sanitation, production, and service methods. This fully updated fourth edition of Food and Beverage Cost Control provides students and managers with a wealth of comprehensive resources and the specific tools they need to keep costs low and profit margins high.
This new edition features the latest information on foodservice cost control in a global setting, addressing relevant cultural, legal, and technological questions. Highlights of this fourth edition include:
A new look at international foodservice cost control in the age of globalization, with a special emphasis on using advanced technologies internationally
New Leaders are Readers! features provide students with additional readings related to key topics and concepts for each chapter
New Technology Tools have been added throughout the book alongside relevant topics because technology affects practically every aspect of cost control today
Expanded and updated Test Your Skills questions help students to reinforce their understanding of the tools and concepts presented
Apply What You Have Learned exercises focus on practical applications of topics and concepts toreal-world industry scenarios
A bonus CD-ROM packed with exercises that utilize manager-developed Microsoft? Excel spreadsheets
A newly created Study Guide provides several additional resources to help students review the material and exercises to test their knowledge of key topics and concepts
Students in foodservice management courses will find that Food and Beverage Cost Control, Fourth Edition provides a modern and focused treatment of this vital subject. Working managers will appreciate this useful reference as a source of ready-to-use forms and formulas that can be easily applied to their operations.
Preface.
Acknowledgements.
Before You Start: How to Use Spreadsheets.
Chapter 1. Managing Revenue and Expense.
Professional Foodservice Manager.
Profit: The Reward for Service.
Getting Started.
Understanding the Profit and Loss Statement.
Understanding the Budget.
Key Terms and Concepts.
Apply What You Have Learned.
Test Your Skills.
Chapter 2. Determining Sales Forecasts.
Importance of Forecasting Sales.
Sales History.
Maintaining Sales Histories.
Sales Variances.
Predicting Future Sales.
Technology Tools.
Apply What You Have Learned.
Key Terms and Concepts.
Test Your Skills.
Chapter 3. Managing the Cost of Food.
Menu Item Forecasting.
Standardized Recipes.
Inventory Control.
Purchasing.
Receiving.
Storage.
Determining Actual Food Expense.
Technology Tools.
Apply What You Have Learned.
Key Terms and Concepts.
Test Your Skills.
Chapter 4. Managing the Cost of Beverages.
Serving Alcoholic Beverages.
Forecasting Beverage Sales.
Standardized Drink Recipes and Portions.
Purchasing Beverage Products.
Receiving Beverage Products.
Storing Beverage Products.
Bar Transfers.
Computing Cost of Beverages.
Special Features of Liquor Inventory.
Sales Mix.
Technology Tools.
Apply What You Have Learned.
Key Terms and Concepts.
Test Your Skills.
Chapter 5. Managing the Food and Beverage Production Process.
Managing the Food and Beverage Production Process.
Product Issuing.
Inventory Control.
Managing the Food Production Area.
Managing the Beverage Production Area.
Employee Theft.
Determining Actual and Attainable Product Costs.
Reducing Overall Product Cost Percentage.
Technology Tools.
Apply What You Have Learned.
Key Terms and Concepts.
Test Your Skills.
Chapter 6. Managing Food and Beverage Pricing.
Menu Formats.
Factors Affecting Menu Pricing.
Assigning Menu Prices.
Special Pricing Situations.
Technology Tools.
Apply What You Have Learned.
Key Terms and Concepts.
Test Your Skills.
Chapter 7. Managing the Cost of Labor.
Labor Expense in the Hospitality Industry.
Evaluating Labor Productivity.
Maintaining a Productive Workforce.
Measuring Current Labor Productivity.
Managing Payroll Costs.
Reducing Labor-Related Costs.
Technology Tools.
Apply What You Have Learned.
Key Terms and Concepts.
Test Your Skills.
Chapter 8. Controlling Other Expenses.
Managing Other Expenses.
Fixed, Variable, and Mixed Other Expenses.
Controllable and Noncontrollable Other Expenses.
Monitoring Other Expenses.
Reducing Other Expenses.
Technology Tools.
Apply What You Have Learned.
Key Terms and Concepts.
Test Your Skills.
Chapter 9. Analyzing Results Using the Income Statement.
Introduction to Financial Analysis.
Uniform System of Accounts.
Income Statement (USAR).
Analysis of Sales/Volume.
Analysis of Food Expense.
Analysis of Beverage Expense.
Analysis of Labor Expense.
Analysis of Other Expenses.
Analysis of Profits.
Technology Tools.
Apply What You Have Learned.
Key Terms and Concepts.
Test Your Skills.
Chapter 10. Planning for Profit.
Financial Analysis and Profit Planning.
Menu Analysis.
Cost/Volume/Profit Analysis.
The Budget.
Developing the Budget.
Monitoring the Budget.
Technology Tools.
Apply What You Have Learned.
Key Terms and Concepts.
Test Your Skills.
Chapter 11. Maintaining and Improving the Revenue Control System.
Revenue Security.
External Threats to Revenue Security.
Internal Threats to Revenue Security.
Developing the Revenue Security System.
The Complete Revenue Security System.
Technology Tools.
Apply What You Have Learned.
Key Terms and Concepts.
Test Your Skills.
Chapter 12. Global Dimensions of Management & the Role of Technology.
Multi-national Foodservice Operations.
Management Challenges in a Global Economy.
Advances in Technology and Information Management.
Selecting Advanced Technology Products.
Monitoring Developments in Cost Control Technology.
Apply What You Have Learned.
Key Terms and Concepts.
Test Your Skills.
Appendix A. Frequently Used Formulas for Managing Operations.
Appendix B. Management Control Forms.
Appendix C. Fun on the Web! Sites.
Glossary.
Bibliography.
Inde
