HTM 2030 Lecture Notes - Lecture 1: Fixed Cost, Net Income, Income Statement

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

Document Summary

Revenue amount of money earned over a period of time; sets context within which decisions about expenses happen. Expenses money spend in order to earn revenue. High income level gives us a higher expenditure level. Revenue = things you earned (i. e. you made revenue when you worked) Cash = amount in your hand (i. e. you made cash when you get paid) Sales can be discussed in many ways: income=revenue=sales= transactions = purchases. Sales are most often discussed in different terms: monetary terms. Total sales: total amount earned in a given period of time, expressed in dollars, only tells sum total without any details of the pieces. Total sales by category: sales per items or areas (total food; total beverage, etc. , more valuable when seeking to understand what was sold. Total sales by server: to evaluate productivity for individual servers within a time period.