Operations and FinanceOP 202

P&L and Cost Control for Managers

Managers read a P&L line by line and find the costs they can control.

Financial reports, a calculator and a laptop on a desk
Duration
2 Day, 16 hours
Level
Intermediate
Mode
Classroom
Class size
Up to 20 learners
Certification
Certificate of Completion

Who Should Attend

Managers and owners of small businesses. You do not need an accounting background.

Entry Requirements

Minimum qualification
GCE 'O' Level, Higher Nitec or equivalent
Language
Able to listen, speak, read and write in English
Prior skills
Basic spreadsheet skills, such as entering data and simple formulas

If you do not meet the minimum qualification, we may still accept you based on your working experience. Contact us before you register.

Learning Outcomes

By the end of the course, you will be able to:

  • Read a profit and loss statement and explain each line
  • Calculate food cost, labour cost and rent as a percentage of sales
  • Trace cost variances using stock counts and sales data
  • Work out break-even sales for a business or site
  • Build a monthly cost control plan with targets your team can track

Course Outline

Day 18 hours
01How a business makes money2 hours

Revenue, gross margin and the main cost lines.

02Reading the P&L3.5 hours

A real P&L, line by line, with the questions to ask of each.

03Cost of goods and wastage2.5 hours

Recipe costing, stock counts, variance and wastage logs.

Day 28 hours
04Labour cost and productivity2.5 hours

Rostering to sales, overtime and the mix of full-time and part-time staff.

05Break-even and unit economics2 hours

Fixed and variable costs, break-even sales and margin of safety.

06A cost control plan1.5 hours

Targets, owners and a monthly review your team can keep.

07AssessmentFinal session2 hours

See the assessment section below.

Assessment

Method

Analysis of a sample P&L, with a written cost control plan.

When

Final session, 2 hours

Operations and Finance

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