PnL 2: Forecasting, Management Reporting vs formal Accounting, full PnL

A one-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 shipping; and what 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

- CFOs, Financial Controllers, Accountants, Management Accountants, and Analysts in Shipping

- Services to Shipping: 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 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 very according to the mix of attendees

- 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