Ep.6 Understanding The P&L Connection With Other Financial Statements

<p>Episode 6: The Profit and Loss or P&amp;L as commonly known and how it impacts the other financial statements</p><p>&nbsp;</p><p>Let me start by asking you questions to test your financial intelligence? </p><p>Email answers to <a href="mailto:roy@mmedu.co.uk" rel="noopener noreferrer" target="_blank">roy@mmedu.co.uk</a> and I will send you a couple of eBooks&nbsp;to help increase your profitability and bank balance&nbsp;for free !</p><p>&nbsp;</p><p>1.&nbsp;How do you know the profitability of your business products or services are on a weekly or monthly basis? </p><p>2.&nbsp;Why is it that you can be profitable and still run out of cash? </p><p>3.What is your cash burn rate? </p><p>&nbsp;</p><p>This episode is all about - Understanding the profit &amp; loss account </p><p>P&amp;L or Income Statement or Statement of Income – all means the same things </p><p>&nbsp;</p><p>I explain how the P&amp;L affect the Balance Sheet and vice versa</p><p>I.e. A change in one statement nearly always has an impact on other statements </p><p>So, when you are managing the income statement you have to understand the impact on the balance sheet and the cash flow statement. </p><p>&nbsp;</p><p>If you found this podcast informative, please like, share comment or subscribe/ follow my channel. </p><br><p>You can find out more about me through social media profiles or visiting my website www.racmacs.com.&nbsp;</p><p>Follow me on Social Media:</p><p>LinkedIn:&nbsp;<a href="https://www.linkedin.com/in/royston-andrew-cumberbatch-finance" rel="noopener noreferrer" target="_blank">https://www.linkedin.com/in/royston-andrew-cumberbatch-finance</a>.</p><p>Instagram: <a href="https://www.instagram.com/royston.cumberbatch/" rel="noopener noreferrer" target="_blank">https://www.instagram.com/royston.cumberbatch/</a></p><p>YouTube: <a href="https://www.youtube.com/feed/my_videos" rel="noopener noreferrer" target="_blank">https://www.youtube.com/feed/my_videos</a></p><p>Facebook: <a href="https://www.facebook.com/RoyceCum" rel="noopener noreferre