Food and Beverage Cost Control

Introduction

This module examines the control processes that are used to increase profitability and to reduce costs in food and beverage operations. The utilization of cost control tools and procedures to minimize cost and maximize profits. The achievement of expected profit levels through effective budgeting, forecasting and staffing is covered. Cost-volume-profit analysis is considered as an effective tool to meet sales income standards and to maximize profitability. A strong emphasis is placed maintaining and improving revenue control systems. The module explores a model for understanding the revenue management process and building blocks to revenue management success and stages of revenue management planning within specific segments of the industry.

What will I learn?

• Sound financial management in a hospitality industry context.
• Planning, controlling, management and evaluation of business systems including forecasting, budgeting, cost control mechanisms, pricing of products and inventory control.
• The analysis and interpretation of the income statement in a food and beverage context with a view to attaining business goals.
• The costing of various functions and events aimed at increasing profitability.
• The ability to make sound financial decisions related to the operations of a hospitality business.

*Please note that no refund is given once the short learning programme has been purchased.