Understanding your profit and loss statement
Are you a new service manager and that first P&L has landed on your desk and you have no idea where to begin? Perhaps you are a more experienced service manager but no-one ever had the time to talk you through what the P&L means and you’d like to better understand the core principals? This course will show you how.
One of the biggest challenges in service leadership roles is that we are expected to be masters of many aspects of service operations. From resource planning through to P&L and balance sheet management. Yet, in amongst the ‘day job’ of fighting fires and keeping the workforce on track and the customers happy, often we are left with big gaps in our training on the ‘business’ side of the role.
Managing budgets a keeping the P&L and balance sheets, well balanced, is often something that is a critical part of our performance evaluations, yet also something we’re just left to work out on our own.
That is where this Field Service News Service Leadership course comes in – it is designed to quickly give you the key fundamentals you need to better understand your profit and loss statements.
In this course you will learn:
- How a payslip can show us the fundamentals of a P&L
- How to understand a simple P&L
- Extrapolating that understanding to more complex corporate profit and loss sheets
- Managing the balance sheet
As an FSN Service Leadership course you can expect...
Steve Cummins has over 40 years of financial experience including; Auditor, Budgeting, Forecasting, Tender Application Pricing, Costing, Profit and Loss, Balance Sheet, Published Accounts and Credit Management.
Overlaid with over 25 years Operations and Service Management experience in a wide range of industries including Mechanical Engineering, Civil Engineering, Quarrying, Manufacturing, Wholesale Warehousing and Logistics. Outsourced Soft Service Facilities Management; Print, Post, Archiving and Office Services. Online Retail.
Extensive experience in analysing problem contracts, services and businesses. Identifying underlying traits/issues and determining appropriate correction techniques using tools such as Kaizen, 6 Sigma, Blue Ocean Strategy and Ratio Analysis.