Element 2: Create financial control system Manipulate catering financial data refers to: Develop, or confirm an existing, effective Updating budgets and producing regular updated budgets to reflect current actual versus projected financial control system to record and track the figures and performance performance of the catering department Generating performance reports, including income statements, labour reports, cost of goods sold, Input financial data into the catering department department performance figures and percentages and department profit and loss. computerised control system must include: Financial data Element 3: Create production control system Revenue generated by the department, including cash and credit which must address internal Develop, or confirm an existing, effective sales and external sales production control system to record and the Cost of goods sold incurred by the department performance of the catering department Repairs and maintenance, as appropriate, according to internal accounting and allocation procedures Input production data into the catering department computerised control system Replacement of items, as appropriate, according to internal accounting and allocation procedures Element 4: Respond to the results produced by Tracking and recording stock returned to suppliers for credit the established control systems Timely inputting of data. Take action to address expenditure figures that Production data must include: are deemed unacceptable Development of food production controls, including standard recipes, production sheets, quantity and Take action to address revenue figures that are quality criteria and production schedules deemed unacceptable Development of work flows to optimise production efficiency Negotiate with management to obtain revised budget figures Minimising labour costs while maintaining production levels, required food standards and quality Tracking to enable amendments to production quantities, changes to menu items and reflection of emerging customer demand and preferences Monitoring of stock losses, including losses in storage, damaged products that become unfit for sale and product wastage. may relate to: Taking action to address expenditure figures Reducing serve sizes Changing suppliers or re-negotiating prices
Element 2: Create financial control system Develop, or confirm an existing, effective financial control system to record and track the performance of the catering department Input financial data into the catering department computerised control system Element 3: Create production control system Develop, or confirm an existing, effective production control system to record and the performance of the catering department Input production data into the catering department computerised control system Element 4: Respond to the results produced by the established control systems Take action to address expenditure figures that are deemed unacceptable Take action to address revenue figures that are deemed unacceptable Negotiate with management to obtain revised budget figures Manipulate catering financial data refers to: Updating budgets and producing regular updated budgets to reflect current actual versus projected figures and performance Generating performance reports, including income statements, labour reports, cost of goods sold, department performance figures and percentages and department profit and loss. Financial data must include: Revenue generated by the department, including cash and credit which must address internal sales and external sales Cost of goods sold incurred by the department Repairs and maintenance, as appropriate, according to internal accounting and allocation procedures Replacement of items, as appropriate, according to internal accounting and allocation procedures Tracking and recording stock returned to suppliers for credit Timely inputting of data. Production data must include: Development of food production controls, including standard recipes, production sheets, quantity and quality criteria and production schedules Development of work flows to optimise production efficiency Minimising labour costs while maintaining production levels, required food standards and quality Tracking to enable amendments to production quantities, changes to menu items and reflection of emerging customer demand and preferences Monitoring of stock losses, including losses in storage, damaged products that become unfit for sale and product wastage. Taking action to address expenditure figures may relate to: Reducing serve sizes Changing suppliers or re-negotiating prices
TG_Monitor_catering_revenue_&_costs_refined.docx