HTM 2030 Lecture Notes - Lecture 1: Perpetual Inventory, Break Even, Beverage Industry

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

Document Summary

Also called: earning statement, p&l statement and operating statement. Revenue sets the contexts within which decision about expenses happening. There is a relationship between what comes in and what goes out. Number can be expressed in absolute (amount) or relative term (comparative number relative to something else) Sales can be discussed in a number of ways: revenue, income, transaction, purchase *can be switched around but mean the same. Sales are most often discussion in either: monetary terms (dollar description, non-monetary terms (non-dollar description) Total sale the total volume of sale in a given time period of time, expressed in dollars. Only tells the sum total without any details of the pieces: revenue- what you make, might not have received yet, cash- when you get paid and have it in your hand. Total sales by category sales per item or areas (total food, total beverages, total steaks (cid:895: more valuable when seeking to understand what was sold.