How to read a Profit & Loss Account and Balance Sheet
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The course is about how to read a Profit & Loss Account and Balance Sheet. Learn how to read the numbers for both a business and for individuals i.e. yourself. The principles are still the same and this is what this course teaches you.
We cover terminology such as profit, loss, income, expenses, assets, liabilities and net assets and net cashflow.
If you have to read the numbers on accounting reports, or indeed if you want to read your own financial report card to understand what it means and what is going on, then this course is for you.
There's a video to explain each concept, and the course materials includes an example of a Profit & Loss account and a Balance Sheet and one to download for you to be able to fill in personally.
The course will take approx 1 hour to complete.
It's an ideal course if you are working in the accounts / finance department and/or if you are thinking of embarking on a career in accountancy or bookkeeping and part of your requirement is to produce the accounts and report back to the owners of the firm.
If you are thinking of starting your own business and want to understand what your figures mean and whether or not your business is doing well, and how you can improve upon those numbers, then this course is for you.
We explain the material and then you get an opportunity to fill out your own financial report card for yourself (hence you will need to get access to your bank statements).
This course is useful for everyone who has any money coming into or out of their bank account. Its important to be able to read your own figures, because this indicates how financially healthy you are. Your balance sheet is an immediate snapshot, and we'll show you how you can read the numbers to know whether things are good, or bad, and how you can improve the picture.
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Certificate of completion.
|Section 1: Introduction|
|Section 2: The numbers tell a story|
How to read a profit and loss account.
How to read a balance sheet.
Reading the numbers on your own personal profit and loss account.
Portman Meadow IT - Balance Sheet thoughts
Reading the numbers on a sample profit and loss
Grangeworth Kitchens Balance Sheet - comments
|Section 3: The background|
Effects of accounting adjustments
|Section 4: Number crunching|
Interpreting the numbers
Portman Meadow IT analysis
Grangeworth Kitchens Ltd analysis
|Section 5: Conclusion|
Where can you go from here?
Lisa Newton BA MSc FMAAT has a masters degree in Investment Management and a first class honours degree in Accounting with Marketing. She formed her first company in 2004 with £150 in the same month of graduating from City University, London UK. Lisa has never had a full time 9 to 5 job in her life. She's a serial entrepreneur and author who holds directorships in various industries including telecoms, software, hair & beauty as well as finance. She has won various awards in Business including: Young Entrepreneur of the Year Award 2007 and in 2008 Enterprising Business Award and has been nominated and shortlisted in numerous others. In 2011 and in 2012 one of her companies won Best Accounting Franchisor Award.
Lisa's books include: How to write a book in two weeks, Constant Cashflow, Make the most of your money, How to start your own bookkeeping business, Cosmic ordering with Vision Boards and Quickbooks Online The Handbook. Some of the books are in audio-format on itunes and audible.
Lisa supports the charity The MS Society. A speaker, coach, consultant and an avid networker, Lisa enjoys meeting people and working on projects with like-minded individuals.
In her spare time, Lisa likes traveling, dancing salsa, writing books, learning languages, meditation and cosmic ordering.