Introduction

HA401 : The Class : Finance : Profit and Loss : Introduction

Introduction

This section will present information on Profit and Loss (P&L) Statements for resorts. The P&L is a financial document that is used in every department and consolidated into a "Cover or Consolidated" P&L that summarizes the total resort financial operation. There are two primary uses for P&L statements.

Financial Reporting Document - The Profit and Loss statement provides the financial performance for a particular department or hotel for a specific period of time. It includes revenues, expenses and profits. Anyone reading the P&L for the month or period will know if actual financial performance met, exceeded or missed guidelines.
Management Tool — The Profit and Loss statement also provides useful operating information that management can use in planning, problem solving and decision making. Information in the P&L can assist in adjusting expenditures and labor schedules to higher or lower volumes of business

Once you have completed this module you should:

Go on to Reading 2: Format and Structure of a P&L Statement
or
Go back to Topic 2: Profit and Loss

E-mail Lloyd Shelton at Lloyd.Shelton@nau.edu
or call (928) 527-7518