Accounting for Restaurants and Bars (CPE Course)

CPE Credit: 4 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $45

Course Description
Restaurants and bars typically produce low profit margins, so they need a strong accounting system to help identify ways to improve those profits. In the Accounting for Restaurants and Bars course, we cover all aspects of the necessary accounting systems, as well as the controls needed to keep fraud in check. Course materials include the accounting for inventory, fixed assets, leases, revenues, expenses, and payroll, as well as a discussion of how to close the books and produce performance metrics.

Author: Steven Bragg

Course Number: AC1174

Learning Objectives

  • Cite the accounts that can be included in the chart of accounts for a restaurant or bar.

  • Specify the structure and content of the financial statements for a restaurant or bar.

  • Identify how a similar unit comparison can be employed by the manager of a restaurant or bar.

  • Specify how the par level is used in inventory monitoring.

  • State the main characteristics of a system of fixed asset depreciation.

  • Identify the accounting for a leasehold improvement.

  • Identify the accounting for a lease by the lessee.

  • Specify how guest checks and house accounts are used.

  • Define expendable items in a restaurant.

  • Specify the accounting for mandatory gratuity charges.

  • Identify the accounting for a restaurant’s web site.

  • Specify the accounting for a payroll, including the treatment of tips.

  • Recognize the types of fraud found in a restaurant or bar.

  • Specify the metrics used by restaurants and bars, and how they can be misleading.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Latest Review Date: March 2024

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

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AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.