Mastering Launching a Successful Restaurant Business Plan

Restaurant Management covers the practical components for successfully overseeing a restaurant or realizing a restaurant concept.

• The course covers essential concepts and systems such as food cost management, profit and loss management, inventory management, and other topics. After completing this course you will have gained knowledge on how to manage a profitable restaurant.
• As one of today’s most in-demand jobs, the salary for a restaurant manager is over $50,000 on average. To become a successful restaurant manager, you must acquire the practical skills and theoretical knowledge necessary to execute all elements of a restaurant business.
• The Basic Hotel and Restaurant Accounting course provides a basis for understanding hospitality accounting concepts and procedures. Students learn about the processing of hospitality financial data, and the flow of financial information in the accounting cycle that result in the production of financial statements.

In this course , students recognize that accounting operations in today’s hotels and restaurants require specialized knowledge and skills by examining the most upto- date industry information. Students gain insight into merchant accounts, forecasting and budgeting, and the effect of the SEC and Sarbanes- Oxley Act on financial reporting. They also learn about setting up an Internet store, and meeting today’s methods of doing business.

Restaurant Management provides this foundation by teaching each aspect of the process; from inception through creation to ultimately managing a successful restaurant.

This course will impart the theory behind food and beverage production and management, human resource management and basic accounting practices for the restaurant industry. You will also learn how to market a restaurant to key customer groups and how to sustain a profitable restaurant while adhering to all legal requirements.

What you will learn

• What is Business Accounting?; Why Financial Statements Are Necessary; Why Study Accounting?; The Corporate Accounting Department; The Accounting Profession; The Certified Public Accountant; Influence of Government and Professional Organizations; Generally Accepted Accounting Principles; Business Transactions; Accounting Income vs. Taxable Income; The Accounting Equation; Financial Statements
• Legal Business Structure; Taxation of Business Income
• Basic Financial Statements; Statement of Income; Equity Statements; Balance Sheet; Statement of Cash Flows
• Preparation of the Balance Sheet; Asset Classification; Current Asset Accounts; Noncurrent Asset Accounts ; Liability Classification; Current Liability Accounts; Long- Term Liability Accounts; Bonds; Equity Classification; Proprietorship Equity Accounts; Partnership Equity Accounts; Corporation Equity Accounts; Limited Liability Company Equity Accounts
• Preparation of the Income Statement; Revenue Classification; Sales Accounting; Expense Classification; Cost of Sales Expense; Inventory Systems; Other Business Expenses; Depreciation
• Origins of Bookkeeping; 21st Century Bookkeeping; Bookkeeping Accounts; Learning Debits and Credits; Analyzing Business Transactions; Analyzing 21 Universal Transactions; The Nature of Debits and Credits; Recording 21 Universal Transactions; Contra Accounts; Normal Account Balance
• Advantages of Computerized Systems ; Input Forms; Output Forms; Online Accounting System; Features of Accounting Packages; Standard General Ledger Modules; Selecting General Ledger Accounting Software
• Accounting Cycle; Tower Restaurant: A Computerized Demonstration; Conversion from Manual to Computer System; Journalizing the Monthly Business Transaction; Computerized Posting of the Special Journals; End-of- Month Accounting; Computation of Net Income or Loss; Computerized Financial Statements; Computerized General Ledger; Reversing Entries; Computerized Year- End Processing
• Restaurant Income Statement; Significance of Restaurant Accounting; Food Sales Accounting; Beverage Sales Accounting; Cost of Sales; Operating Expenses; Restaurant Balance Sheet; Chart of Accounts for Restaurants; Food and Beverage Ratio Analysis; Food Sales Statistics and Analysis; Beverage Sales Statistics
• Definition and Objectives of Internal Control; Internal Control of Cash Receipts; Internal Control of Cash Disbursements; Bank Reconciliation
• Financial Statement Package; The Money Illusion; Overview of Analytical Methods; The Income Statement; Statement of Cash Flows
• Evaluating Credit Card Acceptance; Processing Credit Card Transactions: The Merchant Account; Point-of-Sale Systems; Real-Time Credit Card Processing; Credit Card Fraud; Merchant Account Fees and Charges

• What Is a Budget?; Sales Forecasting; The Relationship of Expenses to Volume; Variable Expenses; Fixed Expenses; Semi-Variable Expenses; Breakeven Point

How you will benefit

• Restaurant Management will give you a wide spectrum of basic training to work in or manage restaurants, bars, fast-food outlets, café or any other food and beverage establishment.
• Suitable for anyone wanting to learn Restaurant Management without committing to years of study.
• This course is perfect to complement those undertaking or wanting to undertake some form of work experience or paid work within the food and beverage service industry.