The Profit & Loss Account
Description
The profit and loss account is a critical tool for businesses. It provides an indication of the health of a business in relation to its financial performance, and is not only used for analysis but – in conjunction with other financial documents – for strategic planning also. One year's profit and loss account provides a snapshot of performance over a short period of time, but it is when comparisons can be made across years that it becomes a particularly significant forecasting and budgeting tool. This film looks at the profit and loss account. The University of Westminster's Senior Lecturer, Jonathan Pike takes us through the different components of financial activity and analysis arising from profit and loss accounts, including total turnover, gross profit, operating profit, interest and tax, dividends and retained profit. A number of terms are clearly defined and explained, using simple generic examples, making this resource ideal for students of business and accounting.
Runtime
19 min 8 sec
Subjects
Database
Films on Demand
Direct Link
Similar Films
Elliott Garlock Discusses Lack of Time For Contemplation While a College Student
Ecological issues in Kenya
Tasha Lewis Discusses Apparel Disposal
Niraj Shah Provides Background on Company, Wayfair
Caroline Starner Shares Academic and Professional Background
Neil Parikh Discusses Maintaining Company Culture
Aaron Chatterji Shares Example Of The Fogarty Catheter As By-product of Industry Collaboration
Micah Rosenbloom Shares Challenges And Paths To Success
In Search of Foreign Investment
David Bornstein Discusses Disillusionment With Career In Journalism
Tricia Barry Discusses Business Leverage of Social Media
Maria Verrigni States Logic and Emotion Must Be Balanced In Decision Making
Nora Poggi Discusses Financing And Funding Her Project
Economics U$A. What did we learn? The Great Depression and the Keynesian revolution. 17
Steve Shapiro Discusses Importance Of Perseverance