This course progresses from accounting to financial analysis and explains their application specifically to food service operations. In addition, students will create food service-specific managerial reports from internal POS system reporting and apply their analysis to operational problem solving. Students will learn the fundamentals of hospitality accounting and how to develop and interpret financial balance sheets, income statements, profit and loss statements, and statements of cash flow. Upon successful course completion, students will be able to create and analyze budget reports, forecast revenues and costs, and interpret key operational cost ratios that financial managers use for effective long-term decision-making.
FSM320 Food Service Financial Management