| FOR IMMEDIATE RELEASE
Sept. 30, 2009
TORONTO – Although good food and great customer service are the “bread and butter” of any foodservice operation, few restaurants can succeed long-term without sound accounting principles.
In Canadian Restaurant Accounting (Second Ed.), restaurateurs of all types now have access to the latest standards – whether the issue is bookkeeping, accounting or internal controls – in one comprehensive, easy-to-use guide.
Published by the Canadian Restaurant and Foodservices Association (CRFA), the 175-page book addresses the specific business concerns of foodservice operators while conforming to generally accepted accounting principles of the Accounting Standards Board.
The author, Douglas P. Fisher, draws on 25 years of industry experience to demystify the often daunting and complex field of restaurant accounting. Using sample balance sheets, practice calculations and real-life examples, Canadian Restaurant Accounting answers these questions and more:
Chapter 1: Financial statement reporting
What is an income statement? How do I factor in wages, food and marketing expenses? What about income taxes?
Chapter 2: Basic books of account
How do I reconcile sales? How important is automation? What is a trial balance?
Chapter 3: Internal controls
What can I do to control food and beverage costs? How do I create an inventory report?
Chapter 4: Restaurant valuation
How much is my business worth?
Reviews of Canadian Restaurant Accounting are unanimous in their support for the latest edition:
“Canadian Restaurant Accounting is the pre-eminent book on restaurant accounting standards in the country. Books such as this provide clarity on the challenges of restaurant bookkeeping, accounting and internal controls. It is an excellent resource, and a ‘must have’ reference tool for students, foodservice managers and restaurateurs. I would highly recommend that it become a fixture in everyone’s library.”
John Walker, Dean
Centre for Hospitality & Culinary Arts
George Brown College, Toronto
“Canadian Restaurant Accounting is a must for any restaurateur operating in today's market. It provides clear and necessary guidance with regard to restaurant accounting, bookkeeping, and internal controls.”
Grey Sisson, Chairman
SIR Corp. (Service Inspired Restaurants)
“It takes careful planning and well-informed decisions to manage a profitable restaurant or foodservice business. Canadian Restaurant Accounting is an invaluable resource, whether you’re operating a restaurant now, or getting ready to enter the business.”
John Rothschild, Chairman and CEO
Prime Restaurants of Canada
“This is the quintessential resource for teaching introductory accounting and internal controls to Canadian hospitality students. The content is to the point and focused on our industry.”
Griff Tripp, Hospitality Management Instructor
Vancouver Island University
Canadian Restaurant Accounting is now available to the general public for $39.95 per copy. CRFA members can purchase the book at a discounted rate of $32.95. For more information about the book or to order a copy online, visit http://crfa.ca/products/canadianrestaurantaccounting.asp.
CRFA is one of Canada's largest business associations, with 33,000 members representing independent and chain restaurants, bars, caterers, institutions and other foodservice providers. Canada's $60-billion foodservice industry employs more than one million people in communities across the country.
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