US $19.97

How to read a Profit & Loss Account and Balance Sheet

——   Created by Lisa Newton

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

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1h 52m
Lesson time
Skill levels

More about this course

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.

13 Lessons

3 mins
free preview
The Numbers Tell a Story
11 mins
How to Read a Profit & Loss Account
free preview
17 mins
How to Read a Balance Sheet
12 mins
The Portman Meadow IT Ltd story (PnL)
11 mins
Portman Meadow IT - Balance Sheet Thoughts
6 mins
The Grangeworth Kitchens Ltd story - PNL Analysis
6 mins
Grangeworth Kitchens Balance Sheet - Comments
The Background
11 mins
Financial Language
17 mins
Effects of Accounting Adjustments
Number Crunching
9 mins
Interpreting the Numbers
6 mins
Portman Meadow IT Analysis
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About the instructor

Lisa  Newton
Lisa Newton
  • 14 courses

 Lisa Newton BA MSc AAT has a masters degree in Investment Management and a first class honours degree in Accounting with Marketing. She formed her …

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Class benefits

  • Certificate of Completion
  • 30 day satisfaction guarantee
  • 24/7 streaming access
  • Direct teacher access
  • 1h 52m of on-demand video
  • 5 downloadable files
  • 3 peers to work with
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