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Finance :money_with_wings: F&B - Coggle Diagram
Finance :money_with_wings: F&B
Food & Beveridge Cost Accounting F&B
Control points
: basic activities that must happen for food service to happen
Menu Planning
Purchasing
Recieving
Storing
Issuing
Preparing
Cooking
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The menu is the foundation
: basted on this the control process in every F&B operation.
Product control procedures
: Purchase -> Received -> Issued -> Prepared -> Cooked -> Held -> Served -> Accounted for
Cost control procedures
: more detailed the more expensive a product is/excessive the service style
Product requirements
: food items required need to be constantly produced. by staff in with a certain skill leven and time management
nutritional content of meals
: non-commercial food service programs and increasingly commercial food service operations are concerned abut the nutritional content of food as this has impact on the customers health and wellbeing.
Equipment needs
: available to store -> prepare -> cook
-> hold products that are on the menu. the menu needs to be adjusted to this so no station os overloaded or underutilised
Food safety Management
: considering the menu keeping possible food safety hazards in mind to reduce risk
layout and space requirement's
: The physical facilities must be adequate for the receiving and storing, issuing, production and serving and serving every menu item.
staffing needs
: are influenced by the complexity of the menu and the extend to which convenience food items ar utilized. as the menu becomes more complex it places greater demands on the staff
Service requirements
: The F&B manager must carefully plan how products will be served to the guests. The menu affects the skill level required for service personal, along with equipment inventory and facilaties needed in the front of house
Revenue control procedures
: when a simple menu is used in a fast-food operation and guests pay before they are served the potential for revenue control problems is not great as is the case in a table service restaurants offering an elaborate menu
Menu Rationalization
: is a strategy that simplifies the operation to make it more efficient
Priority concern of menu planners
Guests
Quality of item
cost
availability
Peak volume production and operating concerns
Food safety concerns
layout concerns
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Flavour
Consistancy
Texture/Form/Shape
Nutritional content
Visual Appeal
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Wants & Needs
Concept of value
Item price
Object of property visit
Socioeconomic factors
Demographic concerns
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Yield percentage = 100X Servable Weight : Original Weight
Cost Per Servable Pound = AP Price : Yield Percentage
Quantity to Purchase/Prepare = Quantity needed X Edible Portion : Yield percentage
Monthly cost of sales = beginning inventory + Purchases - Ending inventory
Inventory counting procedures
:it is important that this responsibility will not be given to someone who is also in chare of storage
Transfer to kitchen
: if wine is used for cooking the expense is originally charged to the beverage operation the were used to generate food revenue vice versa if the bar uses fruits from the kitchen as garnish or ingredient
Multiplier = 1 : Desired food cost %
base selling price = Ingredients X multiplier
Average CM required per guest = Non-food costs + Required : Number of expected guest
Base selling price = Precited food cost + Average CM required per guest
Ingredients mark up method
Determine multiplier to mark up the ingredients costs
Establish a base selling price by multiplying the ingredients costs by the multiplier
Determine the ingredients that cost from applicable standerd recipes
Three basic cost procedures
Standard recopies
Precosting with current costs
standard recopies must be used
Objective pricing methods
: based on date in the approved operating budget help the manager transfer budget plans into selling prices that help generate revenue required by the operating budget
Elasticity of demand
: describes how the quantity demanded responds to changes in price.
Elasticity of demand = change in quantity demand/base quantity demanded : change in price/base price
Profit margin = In : total revenue
average item contribution margin = total contribution margin : total nr of item sold
A good menu can not be measured by its
popularity and profitability
Items that are profitable and populair
Stars
Maintaining rigid specifications
test for elasticity
keep high profile on the menu
upselling
items that are populair but not profitable
Plowhorse
shift demand to desirable items
combine with lower cost products
lower the profile on the menu
assess direct labour factor
test for demand
consider portion reduction
Increase price carefully
items that are profitable but not populair
Puzzles
shift demand to these items
add ''value to the item
reduce the price
Items that are neither populair nor profitable
Dogs
Trash it