Food Management Flashcards
Accounting Document
Income Statement: income/profit for an organization in an acct. period. net income/loss is shown
Statement of Financial Changes
Reflects cash fund or flow
Balance Sheet/ Asset-Liability Statement
Shows assets, liabilities, and owners equity
Just in Time Purchasing
Purchasing the minimum amount of goods to meet customer demand and acknowledging all other issues
Cost plus pricing
cost-based method for setting prices
Prime Vendor
the supplier that provides the materials or products
Blanket Agreement
Simplified method of filing anticipated repetitive needs for supplies or services by establishing large accounts
Purchasing specifications
size of container, brand, quality designation, market form
Product labels
nutritional info, serving size, ingredient listing
Inventory sheet
tracking device is used for monitoring and ordering food/supplies
Percent weight change
the difference in weight over the normal weight x 100
FDA
Laws and regulations pertaining to food
Food and Drug cosmetic act
standards of identity
Agricultural Marketing Act
grading system for agricultural products (Voluntary)
Par Stock system
required minimum number for each product stock
Receiving area
located close to delivery dock, near storage. Must be inspected before for accuracy and quality. Frozen goods should be inspected before being moved to make sure they have been frozen the whole time.
Americans with disabilities act
prevents discrimination based on disability, equal opportunity employment. Renovations must follow the laws in providing reasonable accommodation.
Dishwasher prewash temp
110-140 F
Dishwasher wash temp
140-160 F
Dishwasher rinse temp
170 F
Capital Budget
money for purchasing/replacing equipment (long term financial planning)
Operating budget
day to day operation costs
Cash budget
incoming and outgoing cash
master budget
capital, operating, and cash budgets
What to do if labor costs are over budget
review schedules, work flow, production standard. avoid down time by assigning additional tasks. Be sure employees are properly trained. try self service counters. review customer usage of services
Merchandising
Marketing, promotions, and selling. product placement to increase sales, making the product look better to the eye
Institute of medicine 6 quality aims
patient safety, patient centered, effectiveness, efficiency, timeliness, and equity.
Worker Investment act of 1998
seeks to meet the needs of employers and employees by setting guidelines for education and training
Job breakdown
takes every listed duty in the description and details exactly how each task is done
Job enlargement
adds variety to assigned tasks to prevent boredom
Job enrichment
builds additional responsibility and independence into a a job to add employee satisfaction
Cross-training
team members who have similar jobs are trained on each others duties and tasks.
Full Time Equivalent
compares management of regular full time workers to management of part time workers
Bona Fide occupational Qualifications (BFOQ)
qualifications which under different circumstances may be considered discriminatory but are absolutely necessary to perform a job.
Indirect Costs
incurred by operations that are fixed and remain the same regardless of how much revenue is earned
direct variable, flexible costs
vary according to sales and production
semi-variable
have both fixed and variable components (electric: a set amount to keep the lights on but amplified by equipment usage)
Sunk costs
purchases that have already been made and cannot be reversed or altered
Differential cost
difference in cost between two comparable alternatives
General ledger
history of food service operations financial dealings throughout the life cycle of the business
Daily food cost report
percent of income was spent on food (daily food cost/daily income)
Profit margin
net profit/revenue
Factor pricing method
calculate mark up factor (100/food cost percentage) x raw food cost = price
Prime cost pricing method
multiply prime cost (raw food plus labor cost) by mark-up factor
Cost of profit pricing method
total food cost/desired cost percentage
Laissez-faire management style
team members are not directed by management
open-door policy
encourages employees too speak freely to management about any business or product
authoritarian management style
manager tells team members what is expected of them with specific guidance, scheduling, and direction
autocratic management style
manager makes all decision and keeps tight control over the team
Blake and mouton managerial grid
2 axis of managers concern for people and concern for production
traditional /classical approach
top-down authority, hierarchy approach
systems approach
open and interactive, system will be affected by each part
situational leadership
many methods are affective for different situations
transactional leadership
bottom line focus. short term goals are important above long term satisfaction
transformational leadership
meaning and purpose focused. long term organization view
Maslow’s hierarchy of needs
physiological needs at the bottom, then safety, belonging, esteem, self-actualization
herzberg’s theory and motivation
motivating elements are those that relate to a sense of achievement.
