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Restaurant Financial Basics Paperback – October 2, 2002

ISBN-13: 978-0471213796 ISBN-10: 0471213799 Edition: 1st

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Frequently Bought Together

Restaurant Financial Basics + Running a Restaurant For Dummies + The Restaurant Manager's Handbook: How to Set Up, Operate, and Manage a Financially Successful Food Service Operation 4th Edition - With Companion CD-ROM
Price for all three: $90.13

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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.
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Product Details

  • Paperback: 352 pages
  • Publisher: Wiley; 1 edition (October 2, 2002)
  • Language: English
  • ISBN-10: 0471213799
  • ISBN-13: 978-0471213796
  • Product Dimensions: 6.2 x 0.7 x 9.2 inches
  • Shipping Weight: 1 pounds (View shipping rates and policies)
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (15 customer reviews)
  • Amazon Best Sellers Rank: #96,237 in Books (See Top 100 in Books)

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Customer Reviews

4.6 out of 5 stars
5 star
67%
4 star
27%
3 star
7%
2 star
0%
1 star
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See all 15 customer reviews
Great overview of what is needed for basic financials in a restaurant.
Alex
A must read for anyone interested in restaurant management or restaurant start-up.
August Hock
(Formulas and all) It reads like a text book because well, it's a text book!
Junabelle

Most Helpful Customer Reviews

19 of 19 people found the following review helpful By Willy Huang on March 18, 2009
Format: Paperback Verified Purchase
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.
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32 of 35 people found the following review helpful By Pablo Montaldo on March 10, 2006
Format: 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.
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36 of 45 people found the following review helpful By A Customer on October 10, 2002
Format: 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.
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6 of 7 people found the following review helpful By XngVue on December 10, 2012
Format: Paperback
I am 19-years-old, and am part-owner of a privately owned restaurant. I do not have any professional background knowledge whatsoever of accounting, but I am self teaching through books and advice from other professionals along the way. I bought this book in high hopes that it will at least introduce me to Accounting, specifically towards restaurant accounting and which it has. This is a great book for beginners, simple enough to understand, love how the author defines the terminology and how he gives examples, especially when it comes to the financial statements. I am a person who needs details and cannot miss the details or else I will not understand what I am trying to learn. I plan to go back to school to get my Bachelor's of Business Administration, concentrating in either Accounting or Marketing and Advertising to further my education in business, and would like to help open up a chain of restaurants hopefully in the next couple of years. No doubt, I will be referencing back towards this book and even as I gain more knowledge through classes.
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6 of 7 people found the following review helpful By Junabelle on April 24, 2011
Format: Paperback Verified Purchase
I am a culinary student who is working in the industry. Being in culinary school also requires management courses other than cooking classes so any helpful textbook that relates to the real world helps. I am not that great with math and this book breaks down profit and loss statements. (Formulas and all) It reads like a text book because well, it's a text book! (It's easy to follow) I definitely plan on using the book as a reference as a future manager/owner in the industry.
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12 of 16 people found the following review helpful By Lynette on June 26, 2007
Format: Paperback Verified Purchase
I am an accountant and this books gives me great ideas to share with my restaurant clients
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2 of 2 people found the following review helpful By Alex on July 21, 2013
Format: Kindle Edition
Great overview of what is needed for basic financials in a restaurant. It shows what most operators should be familiar with in order to have a successful restaurant.
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5 of 7 people found the following review helpful By Tachyon on February 4, 2013
Format: Paperback Verified Purchase
This is a must have, if you want to make money, track money, project money or whatever you do with money in a restaurant.
this is the book you need to have in your office even if you pass GMAT, GRE or you are a freaking CPA and CFA.
All this book is straight to the point about financial management however it doesn't come with recipes and culinary tools.

My recommendation get it or nuff said.
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