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Management Responsibilities

Management Responsibilities. Goal 2.02: . Maintaining profitability. Prepare daily/weekly plans. Use to-do lists. Delegate responsibility. Limit meetings. Plan for emergencies. 1. effective record keeping system. standardized accounting practices- easy to understand

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Management Responsibilities

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  1. Management Responsibilities Goal 2.02:

  2. Maintaining profitability • Prepare daily/weekly plans. • Use to-do lists. • Delegate responsibility. • Limit meetings. • Plan for emergencies.

  3. 1. effective record keeping system • standardized accounting practices- easy to understand • double entry bookkeeping- recorded in 2 places • accounting software- profits, expenses, purchases, reservations, recipes and food costs, work schedules/hours, wages

  4. 2. Food, beverage, and labor costs • operational costs • food cost percentage=the ratio of the cost of food to the sale of food (how much did we pay for food? and how much food did we sell?) 14800 divided by 37000= .40 .40X100=40% 40 cents out of every dollar is spent on food

  5. labor costs • direct labor costs-wages paid to employees • indirect labor costs-health insurance, taxes, vacation days • income- money that comes into the business • expense- the money that goes out of the business ex: food cost, beverage cost, nonedible supplies, rent, insurance, salaries, wages, benefits, marketing, advertising, operating expenses (uniforms etc), utilities, sales tax, employee taxes

  6. portion control • decide how many portions from each batch • measure PROPERLY • food waste is minimized

  7. waste control • FIFO • label and date everything • store food properly • handle food properly • follow all safety procedures

  8. Profit and loss statement • income statement • shows exactly how much money flows in and out of the business • one month, one quarter, one year • total sales-total expenses=net profit • forecasting- anticipate what things will cost, how many employees will be needed, how much profit a business will make • cost = income/ break even

  9. 2. inventory control • inventory- the amount of supplies a business has on hand • need a system • too much and food can be wasted • too little and the business will run out of food • store food properly (food with food/supplies with supplies) • FIFO • label and date

  10. purchasing procedures • How much food do we need? • How long will the food last? • How much do we have in stock? • How far ahead do we need to order? • How much space do we have?

  11. food inspections • check for damage during transport (leaking, foul smelling, wilted, bruised, over-ripe, frozen food still frozen, no evidence of insects or pests) • correct quantity • proper grade- check stamp • correct product • correct size • correct price

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