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So you’re thinking about applying for the new job with the big multi-national corporation, and the owners of the hotels where the employees are located just happen to be your future financial advisors. You’ve been brought in as their eyes and ears in regards to the profitability of their new hotel business venture, but you need to know how to handle the information in the sample hotel profit and loss statement because you’ll be reading it every single day in the client documents you’ll be receiving.
Statement of Account Sample and Template from sample hotel profit and loss statement , source:beginner-bookkeeping.com
The typical General Ledger Statement comes with a copy of the internal audit and stock sales sheet. You should be familiar with that – what you don’t know is the format of that document and how you should read it. In this article, I’ll discuss the format of the hotel profit and loss statement and how you can incorporate it into your financial reports.
In the General Ledger Statement (GLS), the most important section is the General Information list, which is displayed at the top of the page. The second section is the itemized financial summary, which contains the profit and loss statement for each hotel. The remainder of the document generally contains a statement of statistics and information on the company, the subsidiaries it owns or operates, and its location.
Hotel Maintenance Management Practices from sample hotel profit and loss statement , source:omicsonline.org
Since the financial statements contained in a Hotel Profit And Loss Statement are not pre-set, the writer was left to improvise. He or she was only allowed to include the figures and data in the hotel’s bottom line information, so they had to come up with something to fill the gaps and go beyond the norm. This document is a compendium of numbers, graphs, and data from each hotel’s general ledger, to give a complete picture of the hotel’s operations.
To put that information into your hotel profit and loss statement, it’s important to make sure you take the time to understand the meaning of the financial reporting used in the hotel profit and loss statement. For instance, in the example given above, the write up reported that the two top performers for the previous year were the New York-New Jersey and San Francisco-San Mateo chains. Unfortunately, the profit and loss statement also lists the New York-New Jersey chain as a substantial loss, but since the hotel was only one of their subsidiaries, it was counted as a partial loss.
Power Corporation of Canada from sample hotel profit and loss statement , source:powercorporation.com
To get around the problem with the subsidiary’s loss, it’s essential to know how to interpret how the hotel profit and loss statement are formatted. It’s not enough to read the short financial summary and decide whether or not the subsidiary is a loss. You need to know how to determine the significance of the numbers that appear within that financial summary.
The language that the hotel profit and loss statement use are heavily influenced by the type of financial information, it’s attempting to display. If you are seeking to learn how to write your hotel profit and loss statement, you’ll want to check out these sample hotel profit and loss statements to help you understand exactly how the hotel profit and loss statement are written.
Revenue Management and Pricing Software for Hotels from sample hotel profit and loss statement , source:ideas.com