Accounting for Restaurants and Bars
Restaurants and bars typically produce low profit margins, so they need a strong accounting system to help identify ways to improve those profits. In the Accounting for Restaurants and Bars course, we cover all aspects of the necessary accounting systems, as well as the controls needed to keep fraud in check. Course materials include the accounting for inventory, fixed assets, leases, revenues, expenses, and payroll, as well as a discussion of how to close the books and produce performance metrics.
Format
PDF Course
Level
Overview
Duration
4 Hours
Course Information
Author: Steven Bragg
Course Number: AC1174
Learning Objectives
- Cite the accounts that can be included in the chart of accounts for a restaurant or bar.
- Specify the structure and content of the financial statements for a restaurant or bar.
- Identify how a similar unit comparison can be employed by the manager of a restaurant or bar.
- Specify how the par level is used in inventory monitoring.
- State the main characteristics of a system of fixed asset depreciation.
- Identify the accounting for a leasehold improvement.
- Identify the accounting for a lease by the lessee.
- Specify how guest checks and house accounts are used.
- Define expendable items in a restaurant.
- Specify the accounting for mandatory gratuity charges.
- Identify the accounting for a restaurant’s web site.
- Specify the accounting for a payroll, including the treatment of tips.
- Recognize the types of fraud found in a restaurant or bar.
- Specify the metrics used by restaurants and bars, and how they can be misleading.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: March 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
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