quoted from John Nessel - Restaurant Resource Group
- Absence of a well organized and implemented accounting system
- Key operating expenses too high relative to gross sales
- Menu items not accurately documented, costed and updated
- Food & beverage inventory levels not counted and costed at the end of each accounting period or recorded in your accounting software
- Food and beverage inventory levels too high relative to corresponding sales
- Daily & weekly financial operating data not collected, reviewed or acted upon
- Inaccurate posting of financial information to your accounting system
- Current liabilities sufficiently greater than current assets as to impair future ability to pay bills
- Owner relying on online bank balance to determine available cash to pay bills
- Overall lack of understanding as to how to read and interpret period ending Financial Statements
