Accountants Love Months: The Hospitality Industry Shouldn’t
The Gregorian calendar has been around since 1582. Even then, there was controversy. Some parts of the world waited four centuries to adopt the new calendar. To Fiscal or Not to Fiscal It now seems quite natural that we’d split our fiscal years into these same 12 months of the year. But this […]
How Standard Costing Helps Increase Restaurant Profitability
Have you ever wished for a magic tool that forecasts costs and profit—and predicts the future? Since time travel doesn’t exist, there is no instant fix. But restaurants do have an incredibly powerful tool for looking ahead that’s underused: Standard Costing. You’re probably familiar with the importance of COGS (Cost of Goods Sold). Industry […]