Financial Reporting:
At IMAGINE Culinary Group, we have established an effective strategy for financial reporting that is timely, accurate, meaningful, and customized to meet the needs of every client we serve. Our overriding philosophy is to ensure that all financial reporting is prepared and presented using an “open book” policy. In doing this, we look to achieve three important goals:
- Trust - We believe that a successful business partnership is based on trust. Transparent financial reporting is the cornerstone in each relationship we establish.
- Understanding - We are committed to providing detailed financial reporting that allows clients to view all costs on an actual basis. This allows for more effective decision-making.
- No Surprises - Accurate financial forecasting is a critical factor in establishing successful long-term business partnerships. We use key industry metrics to control food, labor, and operating expenses as a part of our management program.
Client Reporting: At the onset of a contract, a client can expect to receive the following financial reporting information:
| Report | Frequency |
|---|---|
| Revenue and Expense Statement | Monthly |
| General Ledger | Monthly |
| Special Events and Catering Invoice | Daily |
| Subsidy Invoice | Weekly |
| Accounts Receivable Report | Weekly |
Profit Center Accounting: While developing our financial controls, we utilize a Profit Center Accounting system to achieve to two primary goals:
- To provide management tools for efficient operation
- To provide local management and clients with comprehensive reporting information that can be used to make daily operational decisions for driving quality and improved financial results
We provide extensive oversight in the financial process to educate clients with our vast experience in the design of each contract we manage.
