Planning for Culinary Profit

Course Description

Part A – Theory

This course introduces the student to theoretical applications of costing and control management principles and practises used in the

foodservice industry. Topics covered are: applied hospitality accounting verses cost control terminology, industry proven cost controls to monitor and maintain a financial responsible food and beverage operation, principles of food and beverage purchasing for the hospitality industry, Inventory (asset) value calculations, departmental budget preparation and variance analysis, cost/profit contribution margin and variance analysis, the break-even point related calculation formulas for sales projection, calculation of production equipment depreciation, calculation of statuatory Canadian payroll deductions/cost and their impact on labour cost. Emphasis is on the implementation of applied costing, analysis and control principles, following common industry standards and the use of break-even point related calculation formulas for sales projection.

Part B - Practical

In the applied component of the course, students are required to practice usage of cost control related forms and formulas, manual and computerized. Computer-assisted creation of templates used for; yield calculation, budget calculation, inventory taking-cost extension, parstock-purchasing, cost-profit margin and variance analysis, Statuatory Canadian payroll deductions/cost and labour cost calculations based on projected food sales. Emphasis is placed on creation of effective foodservice industry computer applications templates, using industry standard software.