Pubs and restaurants : an industry accounting and auditing guide

Author(s)

Bibliographic Information

Pubs and restaurants : an industry accounting and auditing guide

Grant Anthony, Zahir Fazal, Ted Sloper

Accountancy Books, c1997

  • : pbk

Available at  / 3 libraries

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Note

On cover: The Institute of Chartered Accountants in England and Wales

Description and Table of Contents

Description

Following the introduction of government beer orders, owner-managed businesses are now the largest area of growth in the industry. Designed as a financial guide for accountants and auditors as well as owners and managers, this book covers the successful management of pubs and restaurants, providing sound practical advice as well as technical information, worked examples and specimen letters. The areas examined include: strategic planning; the best ways to structure a group; tax planning and common pitfalls; information systems, including the benefits of EPOS and other integrated systems; operational financial management; performance measurements; and risk management.

Table of Contents

  • Introduction and background: history post MMC "supply of beer" report including "headline" statistics
  • OFT enquiry February 1995
  • regulatory framework - UK and EEC
  • future expectations
  • purpose of the book and how to use it. Current markets: number of outlets
  • tenated and managed pubs
  • turnover bandings for independents, small groups and nationals
  • meals eaten out
  • average spend, etc
  • theme restaurants and pubs. Operational financial management: performance management
  • use of budgets and cashflows
  • gross and net margins
  • drink versus food - profit mix. Performance measurement: return on capital employed
  • cashflow
  • incremental return on capital expeniture
  • profitability by pub or restaurant. Small groups: structure
  • branding
  • economies. Information systems: EPOS
  • software packages
  • planning and implementing a strategy for IT. Risk management: adequacy of records
  • specialist stocktakers
  • stock control
  • EPOS
  • cash. Financial reporting: reported margins
  • accounting for tronc
  • accounting for goodwill
  • non-depreciation of property
  • valuatin of property
  • pre-opening expenses
  • accounting for franchising fees. Taxation: PAYE - employed and self-employed, tips and tronc, work permits etc.
  • VAT
  • corporation tax - assets qualifying for capital allowances. Audit: objectives
  • auditing guidelines on small businesses
  • planning
  • procedures
  • reporting. Strategic planning and other considerations for the owner-managed pub and restaurant: valuations for sales or IHT
  • structuring for sale
  • succession planning
  • bonuses
  • PRP and other incentives
  • dividends and salaries.

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