Restaurant Financial Basics [Paperback]

Raymond S. Schmidgall (Author), David K. Hayes (Author), Jack D. Ninemeier (Author)

Book Description

ISBN-10: 0471213799 | ISBN-13: 978-0471213796 | Publication Date: October 2, 2002 | Edition: 1

A complete, practical guide to managing restaurant business finances
One of the keys to a successful restaurant business is strong financial management. This book equips readers with the tools needed to manage the finances of foodservice establishments effectively. Written by expert authors with extensive experience in the field, this accessible resource is filled with valuable information that can be applied to day-to-day operations. It offers concise, down-to-earth coverage of basic accounting topics-including pricing, budgeting, cost control, and cash flow-as well as more specialized information, such as how to establish menu prices.

Editorial Reviews

From the Back Cover

The complete, practical guide to managing the business side of a restaurant

The success of a restaurant depends not only on great food and outstanding service, but also on sound financial management. Restaurant Financial Basics gives restaurant managers the financial knowledge and tools they need to understand, analyze, and report their restaurant's finances accurately-and use that data to help run the business effectively.

Written clearly and with a minimum of jargon, this down-to-earth guide focuses on the crucial information busy managers must know-for both day-to-day operations and long-term planning. It covers the full range of crucial basic accounting principles, including cash flow, pricing, budgeting, cost control, equipment accounting, and cash and revenue control. It completely demystifies the two most important financial statements for a restaurant business: the balance sheet and the income statement. Throughout, Restaurant Financial Basics offers valuable practical tools, including:
* Manager's Briefs that summarize critical accounting principles and practices
* Ready-to-use forms for record-keeping and accounting
* Easy checklists to help improve operations and planning
* Web site resources for fast, up-to-date access to further information

The Restaurant Basics Series provides restaurant owners and managers with expert advice and practical guidance on critical issues in restaurant operation and management. Written by leading authorities in their respective areas of expertise, these easy-to-use guides offer instant access to authoritative information on every aspect of the restaurant business and every type of restaurant-independent, chain, or franchise.

About the Author

RAYMOND S. SCHMIDGALL, PhD, CPA, is the Hilton Hotels Professor of Hospitality Financial Management at Michigan State University.

DAVID K. HAYES is the managing owner of the Clarion Hotel and Conference Center in Lansing, Michigan. He is the coauthor of Restaurant Law Basics and Food and Beverage Cost Control, Second Edition, both published by Wiley.

JACK D. NINEMEIER, PhD, is a professor at Michigan State University.

Product Details

• Paperback: 352 pages
• Publisher: Wiley; 1 edition (October 2, 2002)
• Language: English
• ISBN-10: 0471213799
• ISBN-13: 978-0471213796
• Product Dimensions: 9.2 x 6.1 x 0.7 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (9 customer reviews)
• Amazon Best Sellers Rank: #85,475 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

22 of 25 people found the following review helpful:

5.0 out of 5 stars Highly recommendable, March 10, 2006

By 

Pablo Montaldo (Uruguay) - See all my reviews
(REAL NAME)   

This review is from: Restaurant Financial Basics (Paperback)

I used this book to teach financial management of restaurantes to pupils in a culinary school. It was very usefull and I highly recommend it, especially the chapter where you find the different forms of calculating the price of a dish.

30 of 39 people found the following review helpful:

5.0 out of 5 stars Helpful, October 10, 2002

By A Customer

This review is from: Restaurant Financial Basics (Paperback)

This book provides confidence for people out here (like myself) that are considering starting their own business. No other texts on the subject have covered the pertinent issues as comprehensively as I would have liked. Very information and truly helpful.

5 of 5 people found the following review helpful:

5.0 out of 5 stars Restaurant Financial Basics, March 18, 2009

By 

Willy Huang (Hong Kong) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Restaurant Financial Basics (Paperback)

I have read a few titles in regard to restauarnt management and start up to fine tune my restaurant management know how to better my odds at this cut throat industry. After going thorugh this book, it gave some really good insight, and more importantly knowing the numbers really helped provide substance for the strategy and management mantra from other reading. This is more like a textbook, so it is not for everyone, but for what the authors set out to achieve - Restaurant Finacial Basic it is pretty spot on.
To improve, I will suggest some simple but intersting case study to supplement, this will really engage the reader and tied up the teaching in the book nicely.