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Food and Beverage Operation Management

In: Business and Management

Submitted By stavreva
Words 1387
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Introduction:
This report aims to describe and evaluate the financial statements in food and beverage operations, the process of cost and pricing and its specifications and to analyse the steps in purchasing process.

2.1. Demonstrate the use of financial statements in food and beverage operations

Various food and beverage establishments publish their financial reports and statements like balance sheets or cash flow in the end of each tax year, simply for the aim of evaluating their progress in comparison with the previous tax years. Financial statements are counted for productive in any company’s financial history. Their aim is to assess the performance of the company when compared to other companies. Financial statements also serve for judging the financial location of the company in a certain year. Financial reviews are also used to provide shareholders with an approximate idea of the establishment’s performance and dividends. Financial statement consists of three parts:
-cash flow
-income statements
-balance sheets
Consequently financial statements are the most significant fragment of any company’s future plans. They are the single direct source for evaluating business’s economic performance-they give information about the effectiveness, financial health, and the capability of paying obligations. Some of the people who count on financial statements are managers, experts, advocates, investors, creditors, clients and suppliers. The four types of financial statements - balance sheet, income statement, statement of cash flow, and statement of shareholders’ equity- insist on addition, deducting, multiplication, and division. Every statement gives particular information regarding the company, but no financial statement reveals everything itself. On the contrary, most of the information is acquired by comparing the numbers from one statement with these on…...

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