A complete, practical guide to managing restaurant business finances
One of the keys to a successful restaurant business is strong financial management. This book equips readers with the tools needed to manage the finances of foodservice establishments effectively. Written by expert authors with extensive experience in the field, this accessible resource is filled with valuable information that can be applied to day-to-day operations. It offers concise, down-to-earth coverage of basic accounting topics-including pricing, budgeting, cost control, and cash flow-as well as more specialized information, such as how to establish menu prices.
RAYMOND S. SCHMIDGALL, PHD, CPA, is the Hilton Hotels Professor of Hospitality Financial Management at Michigan State University. DAVID K. HAYES is the managing owner of the Clarion Hotel and Conference Center in Lansing, Michigan. He is the coauthor of Restaurant Law Basics and Food and Beverage Cost Control, Second Edition, both published by Wiley. JACK D. NINEMEIER, PHD, is a professor at Michigan State University.
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.