Combi pack of courses PnL 1 & 2
Time & Location
About the Event
One day dissecting the core PnL unit of shipping, the Voyage Calculation; second day deep dive into the potential and the pitfalls of PnL when managing the business of Tanker, Dry Bulk, Ro-Ro, Containers, Parceling and Project; and what else Systems - human and IT - could be doing for your business.
Who is it for?
- Dry, Tanker, Container, Ro-Ro, Breakbulk, Parceling, Project and Heavylift
- Those who carry PnL Responsibility; Chartering and Operations Directors and Managers: structure and refresh their knowledge (CPD); learn of other sectors and broader industry practice
- All Postfixture professionals, Operators, Marine Accountants: structure and refresh their knowledge (CPD); learn of other sectors and broader industry practice
- CFOs, Financial Controllers, Accountants, Management Accountants, and Analysts in Shipping
- Services to Shipping: P&I loss adjusters, Audit and Accounting firms, Financial Analysts, Asset Managers
- Technology providers to Shipping: CIOs, IT Managers, Data Scientists, A.I. Analysts, Software houses
Learning outcomes
On completing this course, we expect you to be able to
- Explain the interests of formal Accounting and Management Reporting, and reconciliation points between the two
- Reflect on potential for realtime reconciliation of Voyage Management and Voyage Accounting with formal Accounting
- Reflect on potential for capturing estimates of PnL components and progressing them to actual in both, and reporting
- Be aware of technological possibility and industry best practice, and how it is applicable to particular sectors and business models
Investment:
GBP 500 + VAT for the two days
Includes written course materials, coffee breaks, sandwich lunch, and follow-up email tuition with the Instructor.
If you prefer that we invoice you or your company rather than paying online here, please use the "Contact" form on the site.
Full-time students have a concessionary rate of GBP 200 + VAT, on verification from the institution they are attending.
DAY ONE:
Content
may vary, depending on the mix of attendees
- Fundamentals
o Revenue, accounts receivable
o Expense, accounts payable
o “Positive and Negative”
o Time, timezones, calendar year
o Why TCE
o Weighted Averages
o Smallest PnL unit
o Decision-making: the Dendrogram
o Accounting Periods; IFRS; Management Reporting
- Estimation to Actual
o Reconciliation with Accounts
o Status in relation to Accounts
- Expense
o Cost of Vessel Time
Real
Convention
o Bunker cost
o Port costs and RoEx
o Cargo costs
‘Voyage level’
‘Cargo level’
o Overheads and apportioned costs
- Revenue
o Hire
‘Due in advance’ x Invoice Status
Lumpsums versus rates
Commissions and applicability
o Freight
Cargo quantity
o Laytime versus delays
- Settlements and Claims
DAY TWO:
Content
- Fundamentals
o Smallest PnL unit
o Why TCE
o Accounting Periods
o IFRS x Management Reporting
o Decision-making: the Dendrogram
o Costing the vessel
Real
Convention
o Overheads
- Estimation to Actual
o Reconciliation with Accounts
o Status in relation to Accounts
Accounts maps
- Accrual policies
o Level of detail
o Estimation versus Commitments
o ‘Speculative’ Ballast leg
- Period cutoff
o Management Reporting
o IFRS
o Reconciliation
- Forecasting
o Current commitment of vessels
o Revenue short-term
o Revenue medium-term
o Bunkers
o Cashflow forecasting and Working Capital
- Variance as a Control
- Performance
o Equalising or Benchmarking
o “Key” vessel, Vessel Rating
o Internal and External benchmarks
C/P performance actual and claimed
- Data (technology)
o Warehousing
o End User Layer
- Reporting
o Dashboards
o Published reports
o What-if/Sensitivity
o Ad-hoc reporting
- Shipping PnL 1 and 2 combined£600£6000£0
- Shipping PnL 1 and 2 - Student£240£2400£0
- PnL 1+2 - Request Invoice£0£00£0