Caterer bakes flan, virtually liquid, food served in bowl (9,6)

I believe the answer is:

breakfast cereal

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'food served in bowl' is the definition.
I can't judge whether this defines the answer.

'caterer bakes flan virtually liquid' is the wordplay.
'virtually' means to remove the last letter (virtually all of the word).
'liquid' indicates anagramming the letters.
'caterer'+'bakes'+'flan'='catererbakesflan'
'catererbakesflan' with its final letter taken off is 'catererbakesfla'.
'catererbakesfla' is an anagram of 'BREAKFAST CEREAL'.

Can you help me to learn more?

(Another definition for breakfast cereal that I've seen is " dish first thing?".)

I've seen this clue in The Telegraph.

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