
Accounting Recipe for Restaurants
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering Finding the right formula for revenue, cost of goods sales (COGS), labor costs, promotional giveaways, controllable overheads and non-controllable overheads is essential in running a restaurant entity. The reason for most restaurants being short-lived is not the taste of food or the service level….