HTM 2030 Lecture Notes - Lecture 16: Institute For Operations Research And The Management Sciences, Accountant, Inventory Turnover

• School: University of Guelph
• Department: Hospitality and Tourism Management
• Course: HTM 2030
• Professor: Iain Murray

Document Summary

Htm chapter 8 monitoring foodservice operations 1: monthly inventory and. We will look at the techniques and procedures used by managers to monitor an entire operation: many procedures and calculations be done at the end of every month, use 13 four-week units instead of 12 calendar months. Calendar month is the basic unit of time in the accounting process. Monthly reports may not be sufficiently detailed, but they are good in estimating overall financial health. Even though, they don"t show where the problem is, they are good at identifying the fact that there is a problem, before it is too late. Some operations to weekly or bi-weekly reports. These accounting procedures are useful for assessing the different control procedures established. To monitor and assess control procedures, we need to determine: Determine the physical inventory and its value. Permanent business record: calculating the value of the goods.