Consider the following in determining how optimally your restaurant is managed:

• Is your accounting system based on the National Restaurant Association's Uniform System of Accounts for Restaurants?
• Is a complete physical inventory of all food & beverage items taken at the end of each reporting period?
• Are your financial statements completed and reviewed within seven days after the last day of the reporting period?
• Is your food cost broken down into meat, seafood, dairy, poultry, grocery, etc. to identify and isolate food cost problems or irregularities?
• Do you understand your balance sheet and review it in each period?
• Do you compare profit-and-loss statements to a budget or prior period?
• Do you calculate and track your inventory turnover (number of days of inventory on hand) on food and beverage?
• When reviewing sales, do you also consider the impact of customer counts and check averages?
• Do you know your weekly and monthly sales break-even points?
• Does your outside accountant understand the restaurant industry and demonstrate it by giving you valuable feedback on a regular basis?