Provides a practical and applied approach to managing costs for foodservice managers and students.

This fully updated fourth edition of Food and Beverage Cost Control provides a wealth of comprehensive resources and the specific tools needed 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 Technology Tools have been added throughout the book alongside relevant topics
• Expanded and updated Test Your Skills questions help to reinforce understanding of the tools and concepts presented
• Apply What You Have Learned exercises focus on practical applications of topics and concepts to real-world industry scenarios
• A bonus CD-ROM packed with exercises that utilize manager-developed Microsoft(r) Excel spreadsheets

Contents

Before You Start: How to Use Spreadsheets

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

2. Determining Sales Forecasts

• Importance of Forecasting Sales
• Sales History
• Maintaining Sales Histories
• Sales Variances
• Predicting Future Sales

3. Managing the Cost of Food

• Menu Item Forecasting
• Standardized Recipes
• Inventory Control
• Purchasing
• Receiving
• Storage
• Determining Actual Food Expense

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

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

6. Managing Food and Beverage Pricing

• Menu Formats
• Factors Affecting Menu Pricing
• Assigning Menu Prices
• Special Pricing Situations

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

8. Controlling Other Expenses

• Managing Other Expenses
• Fixed, Variable, and Mixed Other Expenses
• Controllable and Noncontrollable Other Expenses
• Monitoring Other Expenses
• Reducing Other Expenses

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

10. Planning for Profit

• Financial Analysis and Profit Planning
• Menu Analysis
• Cost/Volume/Profit Analysis
• The Budget
• Developing the Budget
• Monitoring the Budget

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

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

Appendices

• Frequently Used Formulas for Managing Operations
• Management Control Forms
• Fun on the Web! Sites

Glossary
Index

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