Small Businesses usually are not able to use accounting and finance as a tool to understand and manage their business effectively and optimum profitability. Usual problems include Lack of understanding of basic accounting principles and a general mindset that accounting is cost center and only useful for filling tax returns. Poor setup of accounting process […]
Food and Beverage cost are biggest cost for any restaurant and it affects restaurant’s profitability to a significant level. Usually cost are volatile, hence need to be controlled.
Profts like in any industry is key driver of hospitality Industry as well. However traditional method of calculating profit can be damaging for hotel industry. Have a look at this article why!