What is a Profit and loss statement? | Accounting & Business Tutorial Basics

How to read a Profit and loss statement? | Accounting tutorial

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Book a Finance & Tax consultation with Simon Misiewicz. Use the coupon code “YouTube25” to get the 25% discount

Book your tax call now call:

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In this video you will learn from Simon Misiewicz, your Finance & Tax Director

▶ What a profit and loss account is and how it may help you to run and grow your business
▶ The components of a profit and loss statements, which includes explanations of what income, direct costs, gross profit, overheads and net profit.
▶ You will get to understand the different terminologies of the naming conventions of variable costs, cost of sales, direct costs, marginal costs, fixed costs, overheads and indirect costs
▶ You will be able to see how different industries have different margins such as gross margin % and net profit %.
▶ Simon will help explain how the financials of your business may vary from one month to another because of seasonal changes or how the weather may impact the financials of your business.
▶ By the end of the session you will be able to understand what a profit and loss account is and how you can run your business more effectively.


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Sponsor our videos: Tell us about your products and services and how they may benefit our views. Please send me an email to simon@pursertax.com

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Book a Finance & Tax consultation with Simon Misiewicz. Use the coupon code “YouTube25” to get the 25% discount

Book your tax call now call:

The tax support will take the form of:

1.You book the Finance & Tax Director call and upload your questions with relevant documentation
2.Simon will spend up to 60 minutes to go through your situation and identify the very best solution
3.You and Simon will then spend the 60 minutes call to discuss which solution works for you best and to work out the practical application
4.Simon will leave the call and spend up to another 60 minutes to write up the notes and to do further research
5.Simon will provide additional 15 minutes email support to deal with any clarification questions that you may have

Book your Finance & Tax call now call:

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