What types of accounting reports are likely to be most useful to the resturant managers?
What types of accounting reports are likely to be most useful to the resturant managers?
And what areas would be most important to them? explain. How might this differ from a manufacturing company manager’s reports and analysis?
You’d want your typical financial statements, Profit & Loss, Balance Sheet, and Cash Flow. But for a restaurant manager, the P&L and the Cash Flow would be more significant I’d think. Manufacturing companies are probably more concerned with materials, raw, work-in-progress, and finished goods, wheras in a restaurant the manager might be more concerned with wether or not he has enough free cash to order more ingredients.
This is my guess:
In addition to regular reports like balance sheet, P&L, cash flow, you would want detailed reports specific to your revenues and expenses. For example:
- revenue per customer for a period (to compare to other periods)
- revenue per week day (are weekends better than business days?)
- major expenses compared to revenue (payroll, utilities, ingredients, royalties, etc.)
- major expenses per square foot of restaurant premises
- gross profit (revenue – direct expenses) per customer or meal?