How to read a Profit & Loss Account and Balance Sheet

How to read a Profit & Loss Account and Balance Sheet

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.

Interpret the figures on a profit and loss account and a balance sheet for both businesses and for yourself (personal)

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What you will learn

• By the end of the course you will be able to read a profit and loss account
• By the end of the course you will be able to read a balance sheet
• You'll be able to read your own personal profit and loss account and balance sheet

Rating: 4.05

Level: All Levels

Duration: 2 hours

Instructor: Lisa Newton