RESTAURANT M(MIDTERM) Flashcards
is a certificate issued by Liquor Licensing & Regulatory Board that serves as your official permit to sell, serve, and dispense liquor and other intoxicating goods within the Philippines.
Liquor License
DTI MEANS
Department of trade industry
SEC MEANS
Securities and exchange commission
For sole proprietorship
DTI(Department of trade and industry
For partnership or corporation
(SEC) Securities and exchange commission
BIR MEANS
Bureau of internal revenue
LGU MEANS
local government unit
(LLRB) APPLICATION FORM MEANS
Liquor licensing regulatory board
(BPLO) Permit MEANS
Business Permit Licensing office
a complete list of items such as property, goods in stock, or the contents of a business.
Inventory
is the process of tracking the ingredients coming in and out of your restaurant.
Inventory Management
is the act of buying the goods and services that a company needs to operate and/or manufacture products.
Purchasing
has to analyze and decide the best suppliers as per the quality of products and most reasonable cost
PURCHASING MANAGEMENT
is a method of restaurant inventory management, wherein restaurant owners establish a minimum level of inventory required at any particular period of time
Par Inventory
is used to determine the quantity of inventory on hand that an organization should have at all times
PAR Level
is the ratio of a restaurant’s cost of ingredients (food inventory and purchases) and the revenue (food sales) generated when the menu items are sold.
Food Cost
- the account of items at the start of an accounting period.
Beginning Inventory
– the account of items left or goods on hand at the end of a reporting period.
Ending Inventory
– list of bought items (purchase receipt)
Purchases
-Revenue
Total Food Sales
