THE CULINARY FINANCIAL EDUCATION TO GROOM YOUR PROFESSIONAL ACCOUNTING SKILLS

Today the professional chefs need to develop culinary passion to understand procedures of culinary financial accounting various parts from purchasing point to sales point. Purchasing process is an essential part of every food service operation in most kitchens ordering are done by the executive chef and sous-chefs, He must have practical knowledge how to maintain and control these principles in culinary accounting practices. The culinary financial accounting is a set of concepts and techniques that are used to measure and report financial information to make sound management decisions. The culinary financial accounting knowledge does not come easily. You have to explore outside your comfort zone lifestyle. From your hard work only it comes to you with determination. This knowledge makes it easier to value your day to day a business improvement and mindset learning could eventually lead to new era. I actually feel this article will helps to overcome obstacles and reaching your culinary financial goal. The culinary financial education to groom your accounting skills for mastering in F& B operation.

I believe with my culinary experience in the food industry. I have acquired to achieve one of the most important financial accounting parts in the culinary business. I worked in many parts of the globe and I maintain the standard budgeted food cost in all the finest deluxe international branded hotels local and abroad. My profound knowledge about Food cost made me a proud Professional Executive Chef today. Why do we need to know about “food cost?” It is an absolute necessity for culinary and F&B staff. Food cost remains one of the most key components of kitchen and F&B management. Food service operations run to a very tight budget. How to deal with food cost is the biggest challenge in the kitchen department and how to balance the food cost is the biggest question for a chef. The first step in pricing a menu items is a difficult task that requires a great deal of strategic consideration. Pricing a restaurant menu is about finding the right balance between adhering to exceed guests’ expectations. The second step is to be loyal they are paying for the quality food they are received. These two steps represent the nuts-and-bolts of your kitchen and its presentation to your valuable guests.

An understanding of the importance of the concept of cost control and how we can actually identify the food cost and characterize using standard accounting principles is crucial for any operation. Technically, we’re referring to the costs of goods sold, in this case food, expressed as a percentage of what we sell it for. Food cost is the largest expense and one of the most important challenges for culinary staff. By managing these costs effectively in your operation will cause your business to be more profitable. If a system is not in place to control food cost it will be vulnerable to large losses from theft and waste this can affect the entire your company business. Also it can result in costly damage to your company financial assets.

 The profit planning tools is never an accident; it is always the result of high intention, sincere effort, intelligent direction, skillful execution and the professional vision and taking correct decisions. I enjoy the experience of teaching my knowledge of what has been the love of my life –As an Executive chef. I have comprised world class knowledge to share with you. As a chef you have to wear the hat of a business man, in my culinary experiences every business needs to obey one basic principle in order to survive: it must make more money than it spends. In other words, its sales, or revenue, must be higher than its costs. Revenue is the income from sales before expenses, or costs, are subtracted. Cost is the price an operation pays out in purchasing and preparing products or providing services.

It is easy to visualize and explain, but hard to put one's thoughts into action from one to one. Unless you have to develop an action plan and provide the correct training for them to understand the value of this subject of nature. Motivation training prevents all of these wasteful mishaps. Well trained staff can transform the F&B operation profit from average to outstanding. Every little detail has to be adhered to in order to do so. Speaking from my culinary background, my favorite part is teaching and coaching people about culinary financial accounting, the unique vision of how to save money is another passion apart from my successful cooking life. The primary objective of this article is to help food-service personal at all levels to understand the factors behind culinary financial accounting. And what is the better way to impress your valuable customers effectively without affecting the quality & standard of guest satisfaction.

I really hope you enjoy this article and getting to know me better and let me know what you think. I am working towards continually creating useful culinary information’s which others to enjoy!!!!

I sincerely appreciate your favorable feedback. Please do not hesitate to contact me if you have any questions.