Understanding Your Part in Profit and Loss
PM235E01

Course format: Online training with posttest
I-CAR Credit Hours: 1 hour
Estimated Duration: 1 hour
Pricing
Gold Class: $50.00
Platinum: $50.00
Standard: $60.00

This course helps satisfy ProLevel training requirements for the following roles:
Production Management

This course is an Annual Training option for the following roles:
Estimator
Production Management

Learning Objectives

  • Learn how to perform gross profits and net profits calculations
  • Determine how to use a P&L statement to monitor labor gross profits
  • Understand how to monitor parts gross profits
  • Discuss ways of positively impacting sublet gross profits

Module 1 – Profit and Loss (P&L) Statement Overview
Examine the main sections of a profit and loss statement. Identify the importance of dividing each of the main sections into accounts and sub-accounts to detail your business. Sales and income, cost of goods sold (COGS), and overhead expenses will be discussed in detail to understand the relationships between them. Learn how to perform gross profits and net profits calculations. This module concludes with examining what sections of a P&L statement a manager can influence.

Module 2 – Monitor Labor Gross Profit
Take a deeper dive into the accounts that make up labor gross profits. The module explains how to use a P&L statement to monitor labor gross profits. This module ends with identifying the most common factors that a manager can monitor to influence labor gross profits.

Module 3 – Monitor Parts Gross Profit
Examine the accounts that make up parts gross profits. The module explains how to use a P&L statement to monitor parts gross profits. This module ends with identifying the most common factors that a manager can monitor to influence parts gross profits.

Module 4 – Monitor Paint and Materials (P&M) Gross Profit
Review the most influential KPIs used to manage materials in the refinishing department. The module explains how COGS will impact P&M gross profits. This module wraps up with identifying factors that influence P&M gross profits.

Module 5 – Monitor Sublet Gross Profit
Learn how to use a P&L statement to monitor sublet gross profit. The module provides some examples of how to positively effect sublet gross profits.

Course outline containing topics and subtopics.