Why Understanding Profit and Loss is Important in Hospitality

Understanding Profit and Loss (P&L) and how to read financial statements is a critical skill, and absolutely vital for managerial staff. Supervisors and managers in charge MUST view their department as their business. If a supervisor or manager does not know where their department or business is standing financially, they are far away from success.


Yet, the skill of understanding P&L is not always explained or taught, and meanwhile it may still be expected to somehow be inherently known. Understanding the P&L, what it is, how to read financial statements, or what they are used for, are critical skills for managers. How can you know if your department is gaining or losing, if you do not know how to evaluate financial results?


Consider taking a class that will teach the critical skills of reading and understanding basic financial statements. Here is an option for you to learn more in just an hour or more.


CLIMB is a library of hospitality classes, all of which are one-hour in length, and delivered in an interactive, online platform. CLIMB training classes are comprised of selected topics that are essential to the success of a hospitality professional. With CLIMB, you can learn the essentials of understanding Profit and Loss, and why it is important in hospitality. 


CLIMB classes are self-paced, low cost, and accredited. Each class grants Continuing Education Units (CEU’s), and all classes are developed by hospitality professionals for hospitality professionals.


Upon completion, all participants may download a summary action sheet with quick tips and techniques from the class that allow for immediate application of the Knowledge, Skills, and Abilities (KSA’s) learned.  Participants may also print out a customized evidence of completion automatically.


CLIMB classes are available for associate, supervisory and managerial levels. CLIMB can be purchased by individuals, managers for their department and HR professionals for organizational deployment.


CLIMB is a service offered by TISOH: The International School of Hospitality. Established in 2005, TISOH is an accredited hospitality continuing education institution located in Las Vegas, Nevada. Developed for the industry and by the industry, TISOH offers quality short-term, practical training and career development programs in hospitality. Programs include concierge, conference management and event planning, catering, exhibition & tradeshow management, hospitality leadership and supervision, hospitality human resources, hospitality marketing & sales, hotel operations, and wedding coordination and design. TISOH offers individualized student support, small class sizes, and online courses. Diploma graduates, trained by working experts in the field, enjoy an 85 percent job placement rate. TISOH is accredited by the Accrediting Council for Continuing Education and Training. For more information, visit www.tisoh.edu or call (702) 947-7200.

Learn more at www.hospitalityclimb.com