Just like words, the numbers in a business tell a story. And our job today is to learn the language of finance. A Profit & Loss Account: shows at a glance how much profit has been made, from a calculation of the total ______________ from business activities minus the total ______________ incurred in running costs. What You'll Learn: Fundamentals of Financial Statements: Grasp the basic components of a Profit & Loss Account and Balance Sheet, and understand how they reflect financial health. Analyzing Business Performance: Explore how to dissect corporate financials, assessing profitability, liquidity, and stability. Personal Finance Insights: Apply financial statement analysis to your personal life, making informed decisions and setting financial goals. Key Ratios and Metrics: Learn how to calculate and interpret crucial financial ratios to gauge performance and potential. Forecasting and Planning: Use financial statement insights for forecasting and strategic planning in both business and personal contexts. Risk Management: Identify financial warning signs and develop strategies to mitigate risks, safeguarding your financial well-being.