Food and beverage (F&B) departments are critical revenue centers within the lodging industry, requiring precise financial management to maximize profitability. This course begins by introducing the F&B profit and loss statement template, explaining revenue streams, cost of sales, and allowances. Learners will gain a clear understanding of how different components contribute to overall financial performance in F&B operations.

The course delves into the detailed cost analysis of food and beverage sales, along with other revenue streams, providing techniques to monitor and control costs effectively. Labor expenses, including salaries, wages, supplemental pay, and employee benefits, are thoroughly examined to help managers optimize staffing budgets without compromising service quality.

Operating expenses in F&B departments are explored extensively, covering a wide range of costs from banquet services, cleaning, catering, to management fees and utensils. Understanding these costs through USALI metrics and profitability statistics enables precise financial planning. You will also learn essential formulas for calculating key performance metrics and analyzing fixed versus variable expenses, which are crucial for informed decision-making and boosting departmental profitability.

By mastering these financial management techniques, hospitality professionals can enhance operational efficiency, improve cost controls, and contribute significantly to the success of their lodging establishments.