IT NEVER HAD A CHANCE TO BE SOLD Today’s post covers fraud and theft of stock items before they are sold or used in your establishment. These types of fraud relate to purchasing, receiving and inventory stock keeping. Subsequent posts will cover additional types of fraud and theft. These posts discuss one of the most [...]
Archive for January, 2011
Restaurant Fraud & Theft – Part I
Posted in Alcohol Costs, Cost Control, Food Costs, Internal Controls, Sales Taxes, Theft, tagged Cost Control, Food Costs, Internal Controls, Liquor Costs, Profitability, Theft on January 30, 2011 | 4 Comments »
Restaurant Theft Findings
Posted in Alcohol Costs, Cost Control, Customer Comps, Internal Controls, Theft, tagged Cost Control, Internal Controls, Liquor Costs, Operations, Over-pouring, Theft, Variance Analysis on January 29, 2011 | 4 Comments »
Most restaurateurs know that theft is a problem in the hospitality industry, but very few know how much is going on in their own establishments. According to the U.S. National Restaurant Association, approximately 4% of all revenue is lost to in-house theft. The latest figures from Statistics Canada, NPD Group and the CRFA, indicate that [...]
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