V. FINANCIAL MANAGEMENT
Learning Objectives
- Explain the fundamental principles of accounting and their importance
- Identify the different types of financial statements that may be used by businesses.
- Understand the role of revenue and expense management in financial success.
- Explore strategies for pricing items and controlling costs.
- Describe the budgeting process and its significance for managing operations.
- Analyze the factors influencing labor and material costs.
- Develop strategies for effective financial management.
Key Terms
|
Finances Resources |
Money |
Management |
|
Profits |
Accounting |
Taxes |
|
Statements |
Pricing |
Expenses |
|
Revenues |
Inventory |
Costs |
Source: Egan, B. (2012). Introduction to Food Production and Service. The Pennsylvania State University, CC-BY. Retrieved from https://psu.pb.unizin.org/hmd329/
