This text is intended to provide spa beginners and veterans alike with a better understanding of financial management.

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A financial report, in simple terms, is your success scorecard. "Financial reports provide information on the health of the business. They are your measure of success," says Rose Fernandez. vice president of sales for North America at Jurlique, based in Santa Monica, California. 

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Money, like politics and religion, is one of those things that isn’t supposed to be discussed at the dinner table. That said, we’re about to dive into the dollars and cents of the spa industry, so if you happen to be reading Pulse at a dinner table, now might be a good time to relocate.

The 2019 ISPA U.S. Spa Industry Study Compensation Supplement may not provide ideal mealtime conversation fodder, but it does offer a clear breakdown of how spa employees are compensated, what they earn and what the staffing picture looks like across the industry. A closer look at the numbers reveals some notable recent trends.

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A uniform system of financial reporting establishes standardized formats and account classifications to guide individuals in the preparation and presentation of financial statements.

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