PnL 1: The Complete Voyage Calculation

Post-fixture at a professional level: going deeper and broader than your Voyage Management system, into the core Profit and Loss unit of managing the business of Tanker, Dry Bulk, Ro-Ro, Containers, Parceling and Project shipping

Who is it for?

- Dry, Tanker, Container, Ro-Ro, Breakbulk, Parceling, Project and Heavylift

- All Postfixture professionals, Operators, Marine Accountants: structure and refresh their knowledge (CPD); learn of other sectors and broader industry practice

- Accountants, Bookkeepers and Management Accountants in Shipping

- Services to Shipping: P&I loss adjusters, Audit and Accounting firms, Financial Analysts, Asset Managers

- Technology providers to Shipping: Data Scientists, A.I. Analysts, Software houses, IT Support to Voy Mgt Systems, Training Providers

Learning outcomes :

On completing this course, we expect you to be able to

- Identify the universal components of Revenue, Expense and Variance of a piece of shipping business

- Be aware of the most common challenges in capturing estimates of these components, and progressing them to actual

- Explain the interests of Accounting and Management Reporting, and reconciliation points between the two

- Reflect on industry best practice and how it is applicable to particular sectors and business models

Investment:

GBP 300 + VAT for the full day

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 100 + VAT, on verification from the institution they are attending.

Content :

may vary dependant 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