P & L management stands for profit and loss management and it has become an increasingly desired skill sought out by executive recruiters in executive candidates. P & L Management involves decreasing costs and increasing revenues, which is important for any business regardless of its field or market.Know More
In periods of recession or instability, this skill becomes an even more desired skill and executives who possess it will go far in the corporate world. Executives who are able to showcase their background in P & L management always are able to get an advantage compared to candidates who do not.
To highlight an executive's background in P & L management, they should be sure to include examples of P & L management on their resumes, online profiles and networking biographies. In order to be successful at P & L management, executives need to have complete ownership of the business unit's successes and failures of the business unit that they are in charge of managing. This means that they must have a strong command of every program and every item that either contributes to a profit or occurs an expense. The executive must also have team leadership skills and be able to communicate the P & L statement to every employee as well as ensure that all employees are invested in positively influencing that statement as best as they can.Learn more about Financial Calculations
Efficiency ratios are various types of ratios that determine how well a company uses its assets and resources to make a profit. Different types of efficiency ratios include the accounts receivable and accounts payable turnover ratios, the inventory turnover ratio and the average collection periods.Full Answer >
Divide the profit by the selling price to find the gross margin percentage for any items, according to Calculator Soup. The profit is the revenue an item brings in less the cost.Full Answer >
A profit sharing plan gives employees a percentage of the profits the company earns each year. These funds are put into an investment account for the employees.Full Answer >
Asset utilization is a ratio used by business analysts to determine how well a company is using its available assets to generate a profit. Asset-utilization ratios are used to determine the profitability of everything from inventory to accounts receivable, sales and total asset turnover.Full Answer >