Restaurant Financial Basics / Edition 1

Restaurant Financial Basics / Edition 1

by Raymond S. Schmidgall, David K. Hayes, Jack D. Ninemeier
     
 

The complete, practical guide to managing the business side of a restaurant

The success of a restaurant depends not only on great food and outstanding service, but also on sound financial management. Restaurant Financial Basics gives restaurant managers the financial knowledge and tools they need to understand, analyze, and report their restaurant's finances

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Overview

The complete, practical guide to managing the business side of a restaurant

The success of a restaurant depends not only on great food and outstanding service, but also on sound financial management. Restaurant Financial Basics gives restaurant managers the financial knowledge and tools they need to understand, analyze, and report their restaurant's finances accurately-and use that data to help run the business effectively.

Written clearly and with a minimum of jargon, this down-to-earth guide focuses on the crucial information busy managers must know-for both day-to-day operations and long-term planning. It covers the full range of crucial basic accounting principles, including cash flow, pricing, budgeting, cost control, equipment accounting, and cash and revenue control. It completely demystifies the two most important financial statements for a restaurant business: the balance sheet and the income statement. Throughout, Restaurant Financial Basics offers valuable practical tools, including:
* Manager's Briefs that summarize critical accounting principles and practices
* Ready-to-use forms for record-keeping and accounting
* Easy checklists to help improve operations and planning
* Web site resources for fast, up-to-date access to further information

The Restaurant Basics Series provides restaurant owners and managers with expert advice and practical guidance on critical issues in restaurant operation and management. Written by leading authorities in their respective areas of expertise, these easy-to-use guides offer instant access to authoritative information on every aspect of the restaurant business and every type of restaurant-independent, chain, or franchise.

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Product Details

ISBN-13:
9780471213796
Publisher:
Wiley
Publication date:
09/20/2002
Pages:
352
Sales rank:
370,855
Product dimensions:
6.10(w) x 9.20(h) x 0.70(d)

Meet the Author

RAYMOND S. SCHMIDGALL, PhD, CPA, is the Hilton Hotels Professor ofHospitality Financial Management at Michigan StateUniversity.

DAVID K. HAYES is the managing owner of the Clarion Hotel andConference Center in Lansing, Michigan. He is the coauthor ofRestaurant Law Basics and Food and Beverage Cost Control, SecondEdition, both published by Wiley.

JACK D. NINEMEIER, PhD, is a professor at Michigan StateUniversity.

Table of Contents

Preface.

1. Introduction to Financial Management.

2. Debits and Credits-The Mechanics of Accounting.

3. The Balance Sheet.

4. The Income Statement.

5. Analysis and Interpretation of Financial Statements.

6. Cash Flow.

7. Understanding Cost Concepts and Break-even.

8. Pricing for Profits.

9. Operating Budgets.

10. Accounting Aspects of Food and Beverage Control.

11. Payroll Accounting.

12. Accounting for Fixed and Other Assets.

13. Cash and Revenue Control.

Recommended Reading.

Index.

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