Cost Control for the Hospitality Industry

by Coltman, Michael M.

• ISBN13: 9780471288596
• ISBN10: 0471288594
• Edition: 2nd
• Format: Hardcover
• Copyright: 1991-01-16
• Publisher: Wiley

Summary

In this text, a leading hospitality educator and industry consultant gives readers the means to ensure customer satisfaction and produce acceptable profit margins. Two new chapters review different methods of cost control strategy and operations, including information systems and computerized cost control.

Author Biography

Michael M. Coltman is the author of Cost Control for the Hospitality Industry, 2nd Edition, published by Wiley.

Table of Contents

Preface	xi
Preface to Second Edition	xv
Costs and Decision Making	1	(30)
The Meaning of Cost
Types of Cost
Cost Decisions
Separating Costs into Fixed or Variable
Summary
Discussion Questions
Problems
Cost Control by Budgeting	31	(24)
Purposes of Budgeting
Types of Budgets
Budget Preparation
The Budget Cycle
Departmental Budgets
Budgeting in a New Operation
Special Situations
Summary
Discussion Questions
Problems
Purchasing and Inventory Cost Control	55	(32)
Cost Incurrence
The Purchasing Department
The Purchasing Cycle
Ordering Goods
Receiving Goods
Value Analysis
Purchases and Payments
Economic Order Quantity
Summary
Discussion Questions
Problems
Food Purchasing, Receiving, and Inventory Control	87	(28)
Food Purchasing
Food Receiving
Inventory Control
Summary
Discussion Questions
Problems
The Food Cost Percent	115	(24)
Traditional Cost Control
Calculating a Daily Food Cost Percent
What Should the Food Cost Percent Be?
Establish Standard Recipes and Portion Sizes
Calculate Menu Item Costs
Determine Menu Item Selling Prices
Summary
Discussion Questions
Problems
Evaluating Food Cost Results	139	(26)
Historical Test Period Percent
Precost Percent
Gross Profit Analysis
Summary
Discussion Questions
Problems
Beverage Purchasing, Receiving, and Storeroom Control	165	(30)
Purchasing
Ordering
Receiving
Storeroom Control
Summary
Discussion Questions
Problems
Beverage Cost Control: The Bar	195	(24)
Methods of Theft or Fraud
Control Methods
Standard Cost Control
Standard Revenue Control
Quantity Control
Banquet Control
Beverage Dispensing Equipment
Summary
Discussion Questions
Problems
Labor Cost Control: Employee Policies	219	(20)
Employee Selection
Employee Orientation
Employee Training
Employee Evaluation
Employee Records
Employee Turnover
Summary
Discussion Questions
Problems
Measurement of Labor Cost	239	(28)
Labor Cost Ratios
The Problem of Productivity
Productivity Improvement Ideas
Summary
Discussion Questions
Problems
Labor Cost Standards	267	(26)
Fixed Element of Labor Cost
Job Analysis, Job Description, and Task Procedures
Labor Productivity Standards
Staffing Guides
Forecasting
Staff Scheduling
Labor Cost Analysis
Labor Turnover Cost
Summary
Discussion Questions
Problems
Contro of Other Direct and Indirect Costs	293	(28)
Other Direct Costs
Zero-Based Budgeting
Variance Analysis
Actual Statement Analysis
Summary
Discussion Questions
Problems
Information Systems and Control	321	(20)
Management Information System (MIS)
Other Considerations
Summary
Discussion Questions
Problems
Computers and Cost Control	341	(20)
Computers in Hotels and Foodservice
Types of Computers
Hardware versus Software
Integrated Software Systems
Application-oriented Software Systems
Accounting Packages
ECR and POS Systems
Food Control Systems
Front-office Systems
Summary
Discussion Questions
Index	361