FDST 1603 - Cost Control

Description
This course provides the students the basics of financial accounting and best practices in purchasing in the hospitality industry, including hotels, restaurants, and clubs through the use of hospitality industry examples and illustrations. This course introduces the fundamentals of accounting and purchasing through examples from hotels, restaurants, and clubs. This course reveals how vital accounting and proper purchasing practices are in assisting managers of hotels and restaurants in developing budgets, controlling cash flow and inventory, reaching profit and cost control goals, and making effective business choices based on the numbers that affect daily operations.

Pre-Requisite
Completion of MATH 1003 or higher-level mathematics course with a grade greater than or equal to C.

3 Credit Hour(s)

Contact Hours
45 lecture hours

3 Faculty Load Hour(s)

Semesters Offered
Fall, Spring

ACTS Equivalent
N/A

Grade Mode
A-F

Learning Outcomes
Students completing this course will:

Analyze cost control information from various sources, and use that information to adjust costs and uses of resources to ensure fiscal sustainability and optimize profitability
Communicate cost control findings and recommendations clearly and succinctly
Identify ethical and unethical cost control decisions
Follow directions and self-evaluate own work/teamwork

General Education Outcomes Supported

Students develop higher order thinking skills.
Students demonstrate information literacy

Standard Practices
Topics list

Importance of Cost Control
Forecasting, Budgeting, and Income Statements
Calculating Food Cost
Standardized Recipes and Plate Costs
Determining Menu Prices
Analyzing the Menu Mix
Purchasing and Ordering Systems
Purchasing Ethics
Receiving, Storage and Inventory Systems
Food Production
Beverage Costs and Controls
Controlling Costs During Service and Sales
Controlling Waste and Theft
Labor Costs
Protecting Revenue

Learning activities

Lectures
Applied Math
Assigned readings
Videos
Student projects
Participation in Brightwater/NWACC service- learning activity

Assessments

Quizzes/exams
Assignments
Projects or Presentations

Grading Guidelines

Grading Scale/Course Evaluation Methods - A=90-100, B=80-89, C=70-79.9, D=60-69.9, F=0-59.9