logo

Food & Beverage Operations Management Assignment

12 Pages2209 Words122 Views
   

Added on  2020-05-16

Food & Beverage Operations Management Assignment

   Added on 2020-05-16

ShareRelated Documents
Running head: FOOD AND BEVERAGE OPERATIONS MANAGEMENTFood and Beverage Operations ManagementName of the Student:Name of the University:Author’s Note:Course ID:
Food & Beverage Operations Management Assignment_1
1FOOD AND BEVERAGE OPERATIONS MANAGEMENTTable of ContentsTask 2: Understand the financial controls used in food and beverage operations...........................22.1 Discussion of the use of financial statements in food and beverage operations:...................22.2 Demonstration of the use of cost and pricing processes:.......................................................32.3 Analysis of the purchasing process:......................................................................................5References:....................................................................................................................................10
Food & Beverage Operations Management Assignment_2
2FOOD AND BEVERAGE OPERATIONS MANAGEMENTTask 2: Understand the financial controls used in food and beverage operations2.1 Discussion of the use of financial statements in food and beverage operations:The financial statements help in describing the financial condition of a firm and it is aformal record of each financial activity related to the overall business operations. There are fourkinds of financial statements in an organisation, which include income statement, balance sheetstatement, statement of changes in equity and cash flow statement. In relation to the financialstate of food and beverage operations, the managers are involved in using the financialstatements in the form of a tool (Borges Lopes, Freitas and Sousa 2015). The financialstatements enable the managers to maintain formal record of daily transactions associated withthe purchase of raw materials, beverage items and kitchen equipment. The significant financialstatements used in food and beverage operations of the event are explained as follows:Operating statements:With the help of these statements, the final preparation cost of food and beverage hasbeen described. This takes into account the carrying cost, material transformation cost andprocuring material cost to the final product. For the end of term party, the operating statementsconstitute of the final price of food and beverage along with the preparation (Dopson and Hayes2015).Cost statements:These statements include the segregation of all the costs incurred and these costs take intoaccount direct and indirect expense of preparation of food and beverage. With the help of thesestatements, budget could be allocated for a single dish to be presented in the party.
Food & Beverage Operations Management Assignment_3
3FOOD AND BEVERAGE OPERATIONS MANAGEMENTDish costing sheet:The dish-costing sheet is used in computing the selling price of menu or dish. Thiscosting statement helps in assessing the cost of each ingredient and raw materials that the chefsuse in preparing and cooking food. In this costing sheet, all costs of the ingredients arecomputed. As a result, the managers could undertake the decision of food selection in relation tothe menu of end-term party (Gianni, Gotzamani and Vouzas 2017). Sales records:Sales records would enable the managers to gain an insight of the preference of theguests. It is very essential to maintain the sales record properly, as it helps in estimated theupcoming sales of food and beverage. The buying pattern and guest preference could beidentified with the frequent purchase of products and services. The sales records of the pubswould enable in deciding the recipes and menu of end-term party. Variance analysis:Variance analysis helps in estimating the difference between the actual product prices andplanned budget. The actual product prices are those that the hotel or resort sells to the customers.Such evaluation tool enables the managers to obtain an overview of the existing cost and itallows in controlling the future cost as well (Graham and Potter 2015).2.2 Demonstration of the use of cost and pricing processes:The cost and pricing process takes into account different elements like dishes, beverages,sales mix, menu prices, gross profit and net profits, fixed, direct, variable and indirect costs.Pricing is associated with the amount of money, which is required for purchasing products and
Food & Beverage Operations Management Assignment_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Concept of Food and Beverage | Report
|12
|3574
|190

Food and Beverage Operations Management: Doc
|13
|3941
|226

Food and Beverages Introduction 3 Task B Financial Controls Used in Food and Beverages Operations
|12
|4031
|109

Food and Beverage Operations Management
|12
|3338
|161

Hospitality Operations: Food Production Systems, Menu Engineering, and Sustainable Menu Planning
|11
|3474
|1

Factors Affecting Pricing of Menu in Food and Beverages Outlets
|13
|4512
|33