Utilizing Income Statements and Operational Data
Among the swirl of activity in food and beverage service, financial management is a function that sometimes loses priority, despite its vital function.
Understanding and managing your food and beverage operation’s income statement (profit and loss statement) can lead to better decision making and can position you to succeed. Learn how to get a hold of your organization’s finances and make informed decisions based on profit and performance.
Who Should Take this Course?
This course is ideal for individuals involved in the operation and financial performance of a restaurant or food and beverage service, from line-level employees through general management; individuals who are new to the food and beverage industry and need to learn more about the specifics around restaurant operations; and students from every continent and from a diverse range of organizations, including franchisees, managed service contractors such as stadiums or arenas, hospitals, airlines and caterers. Students who do not work in restaurants but need to be conversant in operations of food and beverage providers will also benefit from this course.
- Creating an income statement that properly records the information that is critical to your specific type of restaurant
- Interpreting your data, identifying trends, and catching issues that can have a positive or negative impact on your operation
- Analyzing your financial and performance information to identify, implement, and evaluate improvement solutions
- Alex Susskind, Professor of Operations, Technology and Information Management, School of Hotel Administration