Legal Eagle
The three digit code on the back of most credit cards
Card verification value (CVV)
An internal threat to protecting revenue of a foodservice operation
Employees
Managers and owners eat for free
Manager meal comps
The amount of money that is spent for employee wages
Payroll cost
Desired yield ÷ Recipe yield =
Conversation facor
A program for retirement and medical benefits administered by the federal government.
Federal Insurance Contribution Act (FICA)
The third component of effective revenue control
Protecting cash assets.
Discounts applied to a specific item or is given away with the purchase of an item
Marketing and promotional comps
These benefit costs are often used interchangeably.
Labor cost and payroll cost
Food cost ÷ Number of days in period =
Average daily food cost
Uniform Commercial Code (UCC)
An external threat to food service operations revenue is
Guests/customers
DAILY DOUBLE: A meal that is discounted 100%
Comp
A program for retirement and medical benefits administered by the federal government.
Federal Insurance Contributions Act (FICA)
(Opening inventory + Purchases ) - Closing inventory =
Cost of goods sold
DAILY DOUBLE: A data security standards. Technology requirements for retailers and companies that process credit cards.
Payment Card Industry (PCI)
Money that is produced to resemble official legal tender
Counterfeit currency
Managers may discount a meal because guest is not satisfied
Guest relation discount
These costs consume the second largest part of a food service operations budget
Labor cost
Average check entrée + Average check appetizer + Average check dessert =
Average check food
Contributions are money set aside for health benefits for people age 5 and older, or with disabilities
Medicare
When two or more employees work together for dishonest purposes
Collusion
Coupons are to be handled as this.
Cash
The amount of money that is spent for employee wages.
Payroll costs
(Weight of ingredient ÷ Weight of total flour) x 100 =
Ingredient percentage