- As a p&l manager, your major duties are increasing your business revenue and minimizing the expenditure to the barest minimum. Therefore, you can easily make use of your organization's current profit and loss statement to determine if your business is running at a profitable stage or not.
- Understanding your p&l statement would also give you insight into what needs to change, where you need to cut down expenses, and the best way to maximize your company income. So here are some major responsibilities assigned to a p&l manager in any organization she/he might be functioning.
- Creating p&l statement for the organization monthly. Of course, for a business to be profitable, its income must be more than the expenses incurred monthly, and this is one of the major ways to determine how the business is thriving. Therefore, a p&l manager must develop the monthly p&l statement to understand which department spends more, which spends the least and which department earns more, and which one earns the least. Although many business owners might prefer to have the p&l statement weekly, some prefer to have it bi-weekly, monthly, bi-monthly, quarterly, or annually.
- The reports break down the expenses in an easier way to read and understand for the business owner. With the breakdown done by the p&l manager, the business owner can easily see the sector that makes the most money and the sectors that make the least money in the organization. Meanwhile, investors and lenders such as financial institutions can easily determine how viable the business is through the p&l statement developed by the p&l manager.
Skills: Accounts, p&l, Profit And Loss, Construction Management
Experience: 3.00-7.00 Years