Idiots Guide

[ysnnim]

Gents,

I need a real basic idiots guide to what appears on a P&L statement and a balance sheet. The basics only.

Can anyone advise, point in right direction?

Thanks

David

[srebbe64]

P&L - Turnover, profit before Tax, Profit after Tax, Interest paid, Retained Profit.

B/S - The company's assets and liabilities (Stock, Cash, Borrowings, Buildings, Equipment, Debtors, Creditors, etc.) The company's "Shareholders Funds" are the total assets less liabilities.

The above is a REALLY low tech answer to your question, I don't know how "simple" you want it to be.

[jamesw2000]

wikipedia has some stuff on there, not sure how good it is but remember having a look at it a month or so ago.