HOW TO UNDERSTAND SMALL BUSINESS ACCOUNTS – PROFIT AND LOSS
Most owners hear they need to get better at ‘knowing your numbers’, but where do you start? In the video Dan runs you through how to read a Profit & Loss report.
Topics include:
How to read a profit and loss
Where to find a profit and loss report
What a profit and loss report shows you
What is NOT on a Profit and Loss
What to look for in a Profit & Loss report
Owners Drawings
Dividends and directors Salary
How to understand accounts
How to understand business finance
00:00 Intro
00:47 Where to find your Profit and Loss Report
01:38 What is a Profit & Loss (P&L)
04:00 What is NOT on a P&L p1
04:37 What to look for on your P&L
05:29 What is NOT on a P&L p2
06:29 How to use a P&L example
08:09 Action points
… and more!
If you have any questions on this, please comment below.
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