HTM 107 Hospitality Cost Control

Lecture Hours: 4
Credits: 4

Covers principles and practices of profit management for the hospitality industry. Explains cost control and yield analysis processes from purchasing through receiving, storage, issuing, preparing and serving. Includes inventory control techniques. Explores labor cost control, revenue forecasting, income statement analysis and budgeting.

Student Learning Outcomes:

Describe the management processes in the hospitality industry under which profitability and return on investment are maximized.
Discuss the need for business reporting standards and the use of Generally Accepted Accounting Principles (GAAP) standards.
Evaluate effective cost control systems and identify critical process components such as purchasing, receiving, and inventory management.
Conduct yield cost analysis using principles and factors for cost control.
Describe recipe costing procedures and cost ratios for a foodservice operation.
Use predictive analysis to forecast revenue.

Content Outline

Value and Importance of Cost Controls 
Basic Math: Rounding, Fractions, Percentages 
Unit and Recipe Conversions 
Yield Cost Analysis 
Recipe Costing, Sales Price, and Food Cost 
Beverage Control 
Purchasing 
Inventory Management: Receiving, Issuing 
Labor Scheduling 
Labor Management and Control 
Internal Controls 
Revenue Management for Food and Beverage 
Income Statements and Budgets