Term
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Definition
total Labor $/Total Sales $ = Labor Cost %
the formula is the same whether you are looking at daily, weekly, or monthly amounts |
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Term
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Definition
Total Sales $ x Food Cost % = Food $ (Cost)
How you figure out how many $$ to spend |
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Term
| Sales Trend (Forecasting) |
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Definition
Last year x Sales increase (for this year/projected)
ex. $10,000(last year) x 1.06(6% sales increase)
should be based on the last 45-60 days as well as seasonal trends. |
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Term
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Definition
Food Cost $ / Food Sales $ = Food Cost %
Total of Food Cost accounts divided by Food Sales |
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Term
| Alcohol Beverage Cost (Percentage) |
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Definition
Alcohol Beverage Cost $/Alcohol Beverage Sales $
Total of Alcohol Beverage Cost accounts divided by Alcohol Beverage Sales |
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Term
| Non-Alcohol Beverage Cost (percentage): |
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Definition
Non alcohol beverage cost $/non-alcohol beverage sales $
toal of non alcohol beverage cost accounts divided by non alcohol beverage sales |
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Term
| retail cost (percentage) - |
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Definition
total of retail cost account divided by retail sales
Retail Cost $/Retail Sales $ |
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Term
Total Cost of Sales (percentage)
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Definition
Food Cost $ + alcohol beverage cost S + Non-Alcohol Beverage Cost $ + retail cost $ (all costs) / Total Sales $
Total of all costs divided by total sales |
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Term
| Variance in Performance: to calculate the increase/decrease of this year's (TY) actual performance over last year's (LY): |
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Definition
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Term
Variance in Performance: to calculate an increase or decrease of this year's (TY) actual performance over budget:
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Definition
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Term
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Definition
| The practice of using journal entry (GL - General ledger) to recognize costs and expenses into the accounting period in which the goods/services were rendered. Accurals will reverse as a credit when the actual expense is paid, creating an offsetting entry |
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Term
| Accural Basis of Accounting |
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Definition
| A method of accounting in which you recognize revenues in the accounting period you earn revenues and recognize expenses in the accounting period in which you incur the expense |
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Term
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Definition
The portion of a selling store not generally open to a customer (e.g. stock rooms, mailroom, tailor shop, kitchen)
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Term
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Definition
| From the profit and loss statement; B is for Better, (W) is for worse, better shows a positive number worst shows a negative number |
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Term
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Definition
| From the profit and loss statement; Basic point change, Better or (Worst), Basis points are ((TY Actual % to Sales - TY Budget % to Sales) x 100) |
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Term
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Definition
| A financial plan detailing expected expenses and/or revenues for a specified time period |
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Term
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Definition
| An Accounting method where a company purchases an item at a given point in time but recognizes the cost of that purchase as a monthy expense spread out over a longer period of time. The time period is generally determined based on the average time the type of asset is expected to be in use before needing to be replaced or upgraded. Different types of equipment have their own useful life schedule. This time period is called the "life" of an asset and the monthy expense is called depreciation |
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Term
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Definition
| comparable stores are stores open to the entire prior fiscal year and the current year. For event reporting, a comp store must participate in the event in both the current and previous year |
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Term
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Definition
| the total of all expenses in the 50000 account series. Cost of sales includes; food costs, non alcohol beverage costs, alcohol beverage costs and retail costs. These costs are directly related to the purchase of products that are resold to the customer |
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Term
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Definition
| The annual time period for which financial performance is tracked and reported |
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Term
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Definition
| A system that allows a Salesperson, Buyer, Manager, etc. "to the minute" sales figures and LY Sales figures for the top of the hour for that particular day, by Territory, Area, Store, Division, Functional Area, Department |
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Term
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Definition
| The total dollar amount of expenses in accounts 50310 -50318 these costs are directly related to the purchase of food products that are resold to the Customer. To get the Food Cost percent divide this total by food sales. |
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Term
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Definition
| An estimate for a future value of a metric, such as inventory or sales, based on historical actuals. Forecast values may differ from the budgeted figures |
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Term
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Definition
| The standard retail industry calendar for reporting Sales and Income. The 4-5-4 Calendar |
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Term
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what is the temperature range for the danger zone?
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Definition
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Term
at what internal temperature should raw meat, poultry, and seafood be stored?
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Definition
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Term
raw or undercooked dishes made for high-risk populations must use eggs that have been__.
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Definition
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Term
TCS food must be reheated to what temperature for 15 seconds within 2 hours
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Definition
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Term
what is the minimum internal cooking temperature for poultry?
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Definition
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Term
the first step in cooling TCS food |
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Definition
| cool food from 135 to 70 within 2 hours |
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Term
the second step in cooling TCS food
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Definition
| cool it from 70 to 41 in the next four hours |
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Term
minimum internal temperature for poultry, stuffing, stuffed meat or seafood or pasta, dishes that include previously cooked, TCS ingredients
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Definition
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Term
minimum internal temperature for ground meat or seafood, injected meat, and eggs for hot held service
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Definition
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