Secrets of reading Financial Reports
How should Directors look at Profit and Loss statements, what questions should they ask of Balance Sheets, and how do we present financial reports to focus Directors on the most strategic issues? Presented by Steven Bowman from Conscious-Governance.com. Subscribe to free e-zine at www.conscious-governance.com/ezine.html
In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership, a corporation or other business organization, such as an LLC or an LLP. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a “snapshot of a company’s financial condition”. Of the three basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business’ calendar year.
Balance sheet in Spanish: Hoja de balance
Profit and Loss Statement (P&L)
An income statement (US English) or profit and loss account (UK English) (also referred to as a profit and loss statement(P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, operating statement, or statement of operations) is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period.
Profit and Lost Statement in Spanish: Cuenta de Pérdidas y Ganancias
The liquidity ratio is the ratio between the liquid assets and the liabilities of a bank or other institution.
Liquidity ratio in Spanish: Ratio de liquidez, Coeficiente de liquidez
Hit the fan
To have serious, usually adverse consequences. To become publicly known; to become a scandal.
Meaning of “When the shit hits the fan”: cuando se descubra la verdad, cuando se arme la gorda, cuando salte la liebre…
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