Lea R. Dopson

Following a successful debut edition, this new Second Edition of Managerial Accounting for the Hospitality Industry builds on its strengths of clear organization and the ease with which students work through it. This new edition includes more basic math support for students and a more developed inclusion of ethical considerations and global changes both in accounting systems and in the hospitality industry.

Professional foodservice managers are faced with a wide array of challenges on a daily basis. Controlling costs, setting budgets, and pricing goods are essential for success in any hospitality or culinary business. Food and Beverage Cost Control provides the tools required to maintain sales and cost histories, develop systems for monitoring current activities, and forecast future costs. This detailed yet reader-friendly guide helps students and professionals alike understand and apply practical techniques to effectively manage food and beverage costs. Now in its seventh edition, this extensively revised and updated book examines the entire cycle of cost control, including purchasing, production, sales analysis, product costing, food cost formulas, and much more. Each chapter presents complex ideas in a clear, easy-to-understand style. Micro-case studies present students with real-world scenarios and problems, while step-by-step numerical examples highlight the arithmetic necessary to understand cost control-related concepts. Covering everything from food sanitation to service methods, this practical guide helps readers enhance their knowledge of the hospitality management industry and increase their professional self-confidence.

The leading textbook on professional foodservice cost management — now fully updated and expanded Professional foodservice managers are faced with a wide array of challenges on a daily basis. Controlling costs, setting budgets, and pricing goods are essential for success in any hospitality or culinary business. Food and Beverage Cost Control provides the tools required to maintain sales and cost histories, develop systems for monitoring current activities, and forecast future costs. This detailed yet reader-friendly guide helps students and professionals alike understand and apply practical techniques to effectively manage food and beverage costs. Micro-case studies present readers with real-world scenarios and problems, while step-by-step numerical examples highlight the arithmetic necessary to understand cost control-related concepts such as calculating flow-thru and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). Now in its seventh edition, this extensively revised and updated textbook explains complex ideas in a clear, easy-to-understand style — from using baker's math to modify bakery product formulas to setting prices for limited availability products such as craft beers. New content explains calculating allowable processing fee deductions for server tips, the increasing popularity of e-wallets and online payments, the pros and cons of moving data to cloud-based servers, and much more. Covering everything from food sanitation and service methods to payment card and guest information data security, this comprehensive guide enables readers to: Increase their knowledge of the hospitality management industry and improve their professional self-confidenceUnderstand the entire cycle of cost control, including purchasing, production, sales analysis, product costing, and food cost formulasApply effective management techniques to increase efficiency and profitability in foodservice operationsDevelop practical skills such as creating management spreadsheets and employee schedules using popular software, cloud-based services, and smart-device applications