Glossary Term Explanation An item of value that is owned by an organisation or Assets business Any form of payment including but not limited to, Cash notes and coins, cheques, credit card payments, electronic transfers and vouchers Costs incurred in the normal course of operations to Expense support the production of revenue Fraud Fraud is intentional deception for personal gain The collection of accounts that capture all the financial General ledger activities of an organisation List of goods ordered and received by the customer that Invoice includes with prices charged and the total amount owing A record of all initial financial transactions is kept in a book Journals or similar system called a journal Labour Work, especially physical work Liabilities A debt or obligation which is owed and must be settled A standard recipe will yield a set number of serves; Portion control portion control requires that number of serves to be attained Refers to the system used to process customer or guest POS system sales amount of earnings received by a business for Revenue providing goods and services for a certain period A paper based or computer record that provides evidence Source documents that a transaction has occurred List of ingredients and methods of cooking to produce a Standard recipe set quantity of food at a specific standard
Glossary Term Explanation Assets An item of value that is owned by an organisation or business Cash Any form of payment including but not limited to, notes and coins, cheques, credit card payments, electronic transfers and vouchers Expense Costs incurred in the normal course of operations to support the production of revenue Fraud Fraud is intentional deception for personal gain General ledger The collection of accounts that capture all the financial activities of an organisation Invoice List of goods ordered and received by the customer that includes with prices charged and the total amount owing Journals A record of all initial financial transactions is kept in a book or similar system called a journal Labour Work, especially physical work Liabilities A debt or obligation which is owed and must be settled Portion control A standard recipe will yield a set number of serves; portion control requires that number of serves to be attained POS system Refers to the system used to process customer or guest sales Revenue amount of earnings received by a business for providing goods and services for a certain period Source documents A paper based or computer record that provides evidence that a transaction has occurred Standard recipe List of ingredients and methods of cooking to produce a set quantity of food at a specific standard
TM_Monitor_catering_revenue_&_costs_refined.docx