We are more than just CPAs. We are restaurant consultants, business advisors, and advocates for your industry. We are actively involved in the California Restaurant Association and continually seek to educate restaurant operators of news and legislation affecting your industry. Our objective in this role is to inform you of issues affecting your industry and to work with federal, state, and local legislators to voice your opinions.
We are at your service. Come join our webinars and learn.
In this webinar, we will discuss the current success rate of restaurants and the primary reasons they don’t succeed. In addition, we will review how proper planning and realistic model assumptions can help to establish an objective evaluation of your viability in the marketplace. Finally, we will highlight the necessary components of what constitutes a good business proforma and how it can benefit you going forward. Learn more»
July 12, 2022 - Restaurant Site Assessment - Holding on to Your Profit's Identifying and Controlling Shrinkage, Waste and Theft in the Restaurant
During this session, industry expert, Derek Johnson, discussed the significance of budgeting and projections, how setting attainable goals influence your bottom line, while also highlighting the impacts that occurred during the COVID-19 pandemic. Budgeting and projections can be done despite difficult to interpret year-over-year comparisons by leveraging historical data and analyzing your current operating mode with a granular approach. KROST Restaurant Accountants can help. Learn more»
• How to apply for The Restaurant Revitalization Fund
• Details of the new Restaurant Revitalization Fund eligibility
• How to apply and what documentation is required
• Updates on PPP and ERTC
American Rescue Plan Act of 2021 with the CRA
The $1.9 trillion American Rescue Plan Act of 2021 (“ARPA”) is the second-largest government economic stimulus package in US history, coming a little less than a year after the $2.2 trillion CARES Act passed in 2020. ARPA includes direct payments and child credits to individuals, families, and the unemployed and money for states and local governments. For businesses, it includes additional funding for the PPP, EIDL, and SVOG programs and a new $28.6 billion Restaurant Revitalization Fund (“RRF”), which will award grants to smaller restaurants and chains based on the difference between 2019 and 2020 revenues. This webinar gave an update on the ARPA, the RRF, and the latest news on PPP loans and government aid programs such as the Employee Retention Tax Credit, which has been extended to the end of 2021.
• Define the types of loss that commonly occur in the restaurant industry
• Identify which forms are most likely taking place
• Review practical operational solutions
• Learn the basics of how to construct a yearly financial budget and the benefits of doing so
• Understand how to implement a budget into your daily operations
• Discover how to decipher the information in your Financial Statements and convert that data into beneficial business decisions
• Summarize the current rules on PPP loan forgiveness
• Address the new updates from the SBA/Treasury
• Summarize the lessons learned from loan forgiveness applications that the KROST team have been working on, on behalf of clients
Restaurant Management: Controlling COGS
This webinar series will cover having the right systems and solutions to manage the COGS portion of your restaurant and review the various expenses involved with maintaining a profitable restaurant.
Saving Time and Money with Plate IQ
This webinar will introduced Plate IQ and how it can assist with managing inventory systems.
A Fresh New Approach to Managing COGS
We invited Bill Lindsey from COGS-Well to demonstrate a fresh new approach to inventory and recipe management.
KROST’s Recipe for Accurate and Efficient COGS
Our webinar covered the real-life benefits a client can expect from KROST’s implementation of Plate IQ and COGS-Well.
Food for Thought: Basic Menu Costing & Analysis
• To help restaurant owners and operators to understand the importance of a costed-out menu
• Provide the tools and systems to help them to maximize profitability and productivity through menu analysis
Food for Thought: Understanding Restaurant Financials
• An overview of restaurant finance best practices & solutions.
• Financial solutions to increase your bottom line
• Key performance indicators and analysis to help avoid loses.