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Cost accounting: the vital link to cost effectiveness
Journal of the American Dietetic Association
|August 1, 1980
Summary
Cost accounting is essential for foodservice management, providing data to improve both effectiveness and efficiency. Mastering cost accounting ensures financial success and informed decision-making for professionals.
Area of Science:
- Foodservice Management
- Health Services Administration
- Accounting Information Systems
Background:
- Cost accounting is crucial for foodservice operations.
- It complements cost-effectiveness analysis.
- It aligns with the expertise of dietitians and administrators.
Purpose of the Study:
- To highlight the role of cost accounting in foodservice.
- To demonstrate its utility in decision-making.
- To emphasize its importance for professional success.
Main Methods:
- The study defines cost accounting principles.
- It discusses the integration of cost accounting with foodservice management.
- It emphasizes practical application for professionals.
Main Results:
- Cost accounting provides essential data for effective and efficient foodservice operations.
- It supports informed decision-making to enhance operational outcomes.
- It is a vital tool for financial management and strategic planning.
Conclusions:
- Cost accounting is indispensable for foodservice administrators and dietitians.
- It enables professionals to achieve both operational efficiency and effectiveness.
- Applying cost accounting principles is key to professional survival and success.