tailieunhanh - Lecture Food and beverage cost control (6th Edition): Chapter 1 - Dopson, Hayes, Miller

Chapter 1 - Managing revenue and expense. This chapter presents the following content: Professional foodservice manager, profit: the reward for service, four major foodservice expense categories, percentages, percentages in foodservice, profit formula, understanding the income (profit and loss) statement, common percentages used in a P&L statement, understanding the budget, technology tools. | Chapter 1 Managing Revenue and Expense Main Ideas Professional Foodservice Manager Profit: The Reward for Service Four Major Foodservice Expense Categories Percentages Percentages in Foodservice Profit Formula Understanding the Income (Profit and Loss) Statement Common Percentages Used in a P&L Statement Understanding the Budget Technology Tools 2 Professional Foodservice Manager Hospitality managers controls product production to product sales/ distribution. Management of foodservice is more challenging than the management of a manufacturing or retailing business. The food service operator must serve as a food factory supervisor, and a cost control manager. Profit: The Reward for Service If management focuses on controlling costs more than on properly servicing guests, problems will certainly result. Managers should never feel that “low” costs are good and “high” costs are bad. That is not true. Improvements in business operations should yield more customers which, in turn, will yield greater operational expense. Profit: The Reward for Service Efforts to reduce costs that result in unsafe conditions for guests or employees are never wise. The question is not whether costs are too high or low, but whether costs are too high or too low, given management’s view of the intended value to be delivered. Profit: The Reward for Service Revenue is the amount of dollars an operation takes in. Expenses are the costs of the items required to operate the business. Profit is the amount of dollars that remain after all expenses have been paid. Revenue - Expenses = Profit Profit: The Reward for Service The following terms will be used interchangeably: revenue and sales; expenses and costs. All foodservice operations, including non-profit institutions, need revenue in excess of expenses if they are to thrive. Profit is the result of solid planning, sound management, and careful decision-making. Revenue - Expenses = Profit Profit: The Reward for Service Desired profit is defined . | Chapter 1 Managing Revenue and Expense Main Ideas Professional Foodservice Manager Profit: The Reward for Service Four Major Foodservice Expense Categories Percentages Percentages in Foodservice Profit Formula Understanding the Income (Profit and Loss) Statement Common Percentages Used in a P&L Statement Understanding the Budget Technology Tools 2 Professional Foodservice Manager Hospitality managers controls product production to product sales/ distribution. Management of foodservice is more challenging than the management of a manufacturing or retailing business. The food service operator must serve as a food factory supervisor, and a cost control manager. Profit: The Reward for Service If management focuses on controlling costs more than on properly servicing guests, problems will certainly result. Managers should never feel that “low” costs are good and “high” costs are bad. That is not true. Improvements in business operations should yield more customers which, in turn, will .