Question by mr.grammar: finance management?
I earn a lot but can’t resist to spend. Please tell me what to do?

Best answer:

Answer by paula d
Give yourself an allowance. Figure out what you need for bills, what you need to SAVE, and give yourself fun money (a daily or weekly amount). That way you won’t feel deprived, but you’re still being responsible.

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Question by wenbin l: Can anyone tell me more about restaurant finance management?
I would like to know more about how to manage the finance, cash flow and other management issues for a restaurant.

Best answer:

Answer by Scott H
Financial management of restaurants varies depending on the type or restaurant. A fast food restaurant will have different targeted goals than a full service restaurant.

If you are looking for targeted numbers for your variable costs such as labor cost, food cost, liquor cost, beer cost, and wine costs you can use a the industry averages of 30%, 31%, 22%, 28%, 35% respectively.

If you are looking for a more extensive look at restaurant financials I would suggest checking out the site http://www.foodandbeverageunderground.com where you can get all the food and beverage knowledge to run a restaurant for free.

Good luck and cheers!

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Question by Munch_101: Finance Management?
Why do you think expenses should not simply rise proportionately with sales growth and/or, what do you think would happen to management if they allowed all expenses to increase at the same rate as sales, over an extended period of time?

Best answer:

Answer by jtribbbiani
Expenses shouldn’t rise proportionately with sales growth because in some businesses certain costs are fixed and aren’t affected by sales. However, it is usually desired that most of your costs are variable, that way you can manage your business accordingly and control your costs throughout the business cycle more effectively. Also, expenses won’t rise at the same rate as sales because of productivity gains in an economy. This is basically why we can have GDP growth at rates higher than inflation (I’m talking nominal terms which then translates into real GDP growth). If expenses increase at the same rate of sales, that is not necessarily a bad thing. That could mean that management has done a good job of scaling back their fixed costs and are better able to manage the business through downturns. An important measure to look at is what is the return that management is generating relative to the capital levels invested in the business.

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