How to Read a Profit & Loss Account and Balance Sheet: Understand Financial Statements

What You'll Learn

• Understand how to read and interpret a profit and loss account and balance sheet


• Analyze financial statements: Gain the ability to assess trends and a company's financial health


• Learn to read your own personal profit and loss account and balance sheet


• Understand accounting terminology: Learn to define key terms such as revenue, expenses, assets, liabilities, and net assets


• Apply financial analysis to business decision-making: Learn how to use financial information to make informed choices


• Manage your personal finances: Gain skills in budgeting, tracking income and expenses, and planning for future goals

Requirements

• Be prepared to gather your bank statements from the last 3 months to fill in the provided template

Description

Welcome to the "How to Read a Profit & Loss Account and Balance Sheet" course! This course is designed to help you interpret the figures on a profit and loss account and balance sheet, whether for a business or for personal use.

Whether you're a bookkeeper, accounting student, manager, entrepreneur, or someone just interested in understanding your finances, this course is perfect for you. Delivered by an experienced bookkeeping service entrepreneur, this course is full of practical, real-world insights.

We cover essential accounting terms like profit, loss, income, expenses, assets, liabilities, and net assets. You’ll also learn how to assess the financial health of both businesses and your personal finances.

The course materials include downloadable examples of a Profit & Loss account and Balance Sheet, so you can apply what you’ve learned to your own financials. You’ll complete the course with the knowledge of how to fill out your personal financial report card, which will help you track your progress and financial health.

This course takes approximately 2 hours to complete, making it an ideal option for those in the accounts/finance field or anyone starting a business and needing to understand financial reports. By the end of this course, you'll be able to confidently read and analyze financial statements to make better decisions for both business and personal finance management.

Stop letting financial statements overwhelm you! Learn the essential skills to understand your financial reports, giving you the power to improve your financial health and make better decisions.

Who This Course is For:

• Business owners looking to understand financial reports


• Accounting, finance, or bookkeeping students


• Individuals considering a career in finance or management accounting