Excel
How do you solve for Food Cost %?
Total Room Rev / Total # Rooms Sold
A system for compiling and reporting an organization's monetary information for making economic decisions.
The assessment of businesses monetary affairs, financial statements, budgets, and other finance-related reports for decision making purposes.
Total Room Rev / Total # Rooms Available
A subdivision of Managerial Accounting, which focuses on cost control.
Financial statements provides a simplified way to use Microsoft Excel or any other spreadsheet to create and analyze financial statements.
Occupancy rate * Total # Rooms Available
Focuses on reporting an organization's transaction, performance, and financial position.
Are based on the reading and understanding of numbers. Some of the more common financial reports that are based on the comparison of numbers of one specific period to another include (1) financial statements (2) forecast and (3) budgets.
Av Customer Expenditure * Volume (# cus served)
Is based on the identification, analysis, and interpretation of historical and/or projected financial data, which are used by the management for making daily and future operational plans.
In the hospitality industry are operating departments that produce revenues (sales) by providing products and/or services that generate revenue to clients.
Rev - COGS
One of the major objectives of business owners. The words profit, income, and earnings are the same and can be used interchangeably.
In the hospitality industry are the staff departments that support the operating departments that generate sales.