Cost accounting as a management accounting tool for monitoring restaurant profitability

Abstract

Research objective: This article discusses the concept of one of the management accounting methods of cost accounting and identifies the use of this method in the management of a catering business. Methodology: The analysis of cost accounting in the context of restaurant profitability management covers various aspects of cost accounting, such as cost classification, direct cost analysis, indirect costs, and methods to control raw material and labour costs. Main conclusions: This study focuses on the role of cost accounting as a key tool for restaurant management. A precise analysis of raw material costs, labour costs, and other factors affects the profitability and competitiveness of a catering business. By using cost accounting, restaurateurs can make more informed decisions, adapt to changing market conditions, and thus contribute to the long-term success of their business. Application of the study: The study illustrates how the effective use of restaurant cost accounting contributes to better management of a catering business, improving customer service, increasing profitability, and maintaining competitiveness in the market. Originality/Novelty of the study: The work combines theoretical and practical approaches to the subject of cost accounting with a particular focus on the catering industry. The study provides an in-depth analysis of restaurant cost accounting and provides practical tips for optimising costs and increasing the profitability of a catering business.