Profit and Loss secrets explained

Unravel the mystery behind profit and loss statements in this engaging video! Learn the secrets of business success by understanding the fundamentals of financial statements. Subscribe now to uncover the hidden gems of the business world!
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00:00 Introduction and Overview
00:50 Your Business Scoreboard and the language of business.
01:50 Domains of time for financial statements
02:11 The 5 parts of a profit and loss statement
05:28 Difference between net and gross profit
06:40 Working out benchmarks
08:14 Different business types and the P&L
10:25 The other financial statements covered in other videos

[@itsashleygisell]

2:04 explanation begins

[@Voorhees613]

For the first time ever, reading the comments has actually benefited me. Thank you Ms Ashley. you saved me 2 minutes of my life.

[@DistantTower]

I love your straight forward explanations.

[@lisaray987]

Easy explanation--Great job!

[@mariagrigorescu5447]

This was really great. Very easy to understand and in a nutshell all what you need to know. Thank you.

[@anilsharma-ks5br]

Maria Grigorescu

[@Estateandassetsmaster]

Thank you, Brad. Your explanation was very clear and concise.

[@cjseestadt8820]

Thank you. Most helpful video I have seen.

[@DrewEastmead]

Thanks - very clear and easy to follow and understand. Nice video!

[@twiggers23]

Really helpful for a beginner like me. Thank you.

[@excelforaccounting]

ua-cam.com/video/V9xkOatAN3A/v-deo.html

[@manniesreactionchannel3808]

Nice! Clear and concise and straight to the point.

[@ranjitkumar-lj3yv]

good understanding sir slow and steady

[@Fudgeey]

Great video, Brad. I'm trying to help my mom understand P&L's, and this is perfect.

[@excelforaccounting]

ua-cam.com/video/ms3CCsyXLQs/v-deo.html

[@prasadgcm714]

Thank You very much for this video, easy to learn and understand

[@jemelagelan2145]

Thank you for the explanation.

[@prabowoturwiyono7627]

Thank you Brad.. It's very clear.

[@alden2826]

Man, you made the beat video on youtube about this sir. Thanks so much

[@bradflynnofficial]

Thanks Alden 🙏

[@puyi18]

Awesome video Brad! Very clear and to the point.

[@bradflynnofficial]

Thanks Luis, appreciate the feedback.

[@excelforaccounting]

ua-cam.com/video/ms3CCsyXLQs/v-deo.html

[@Kingkongzilla999]

Thanks for keeping it simple. given me a better understanding to make sense from revision.

[@bradflynnofficial]

My pleasure Imrn, let me know if there are any other topics that may be of value to you and i may be able to do some more videos.

[@bradflynnofficial]

Hi K P, a cashflow statement is a record of the difference in account balances in the balance sheet between 2 different points in time, you can't use a P&L for this. A P&L can be used as a guide for a cashflow projection though. But key point here is a cashflow projection, is different to a cashflow statement, also called a statement of cash sometimes, that shows how the cash actually flowed between 2 points of time, as opposed to a P&L statement which is essentially a record of promises. Hope this helps.

[@ColetteSummerland]

Well explained. Thank you so much.

[@michaelward3132]

Very clear explanation thanks

[@bradflynnofficial]

Glad it was helpful!

[@andrewhou7]

Great video, thanks very much!

[@bmzanzibar3028]

Very helpful videos and it's good!

[@bradflynnofficial]

Thanks Baitul 🙏

[@thememelord5353]

Really helpful Brad! Thank you :)

[@bradflynnofficial]

You are welcome Hard Nut, appreciate the feedback.

[@7orcas]

Very helpful, cheers mate

[@excelforaccounting]

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[@sreekanthmallela3977]

Thanks for sharing Video ..great insight !!

[@excelforaccounting]

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[@tolaogunniyi4592]

Excellent video with a great overview that is easy to understand....thanks a lot

[@bradflynnofficial]

Glad it was helpful!

[@yogeshramrao5312]

fantastic video and easily understand 10q brad

[@amkni2505]

You’re God sent. Thank you! 🙌🏾😊

[@bradflynnofficial]

Not sure about that Am, but appreciate your kind words.

[@DavidLopez-ou8di]

great Video 👍

[@mirde8453]

fantastic, thank you so much for detailed explanation.

[@bradflynnofficial]

Mirde you are welcome 👍

[@ad2957]

Great Job

[@thealgonquin1]

Great stuff Thanks !

[@tendamutende7481]

very clear explanation. god bless you

[@bradflynnofficial]

tenda mutende thank you for your comments.

[@ronan.7089]

Thanx very much sir , nice clear and straight to the point

[@bradflynnofficial]

Rona N. You are very welcome, thanks for the feedback.

[@chefkamoonig2485]

Thank you very much

[@brampyvich]

Thank you Brad, the video was very valuable.

[@ryadsahraoui737]

thank you so much help me a lot

[@excelforaccounting]

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[@anjorapada5423]

Salute Sir! It helps me a lot. :)

[@khallok8689]

wow this was so usefull thanks man

[@bradflynnofficial]

Glad to hear it was helpful 💪

[@derekevans7780]

Excellent job!

[@bradflynnofficial]

Derek Evans appreciate your feedback 🙏

[@MohamedHassan-km5uo]

Really fantastic and great

[@bradflynnofficial]

Thanks Mohamed, appreciate the feedback.

[@yousefgamil9901]

i love what you did mr Brad , thanks so much

[@bradflynnofficial]

Thanks for the feedback Yousef, glad it was of value to you :-)

[@yousefgamil9901]

you are most welcome my lovely lecturer
love you so much ,

[@dandreiagonzalez5921]

Thank you thank you thank you

[@mrinmoychaudhury3671]

Very Nice...

[@mohamadykamal4616]

thank you for profisional informations

[@bradflynnofficial]

Your welcome Mohamady, glad to hear it was helpful for you.

[@LoneWolfRiders]

Hey Brad,
Do you know where I would find the standard percentages for a given industry that you reference in the video for Canada? Or perhaps what key words I should search for online

[@LoneWolfRiders]

Matthew Brooks Never mind, I found it. For anyone else looking in Canada here is a link:
www.ic.gc.ca/eic/site/cis-sic.nsf/eng/home

[@RanjitSingh-dw5dw]

Thank you Brad!

[@dginvestor6483]

all of video of investment is great what you teach sir thank you sir sharing this video its help me very so much....

[@bradflynnofficial]

Daniel Gumiran your very welcome, I appreciate your feedback.

[@joereza1505]

Hello Brad, thank for the video simplicity. Just a question, do i include my bank loan (equity) inside my P&L statement and the monthly repayment of bank loan i took ?

[@bradflynnofficial]

Hi Jokiva, no bank loans are on your balance sheet as a liability or cash in assets or combo of both. As you pay off a loan you transfer money from cash in assets to the loan in liabilities in the balance sheet. The interest however can go on the P&L. Hope this helps.

[@joereza1505]

@@bradflynnofficial thank you.

[@stephaniesmith5245]

thanks!

[@isaiahhoover3996]

this was an amazing video I love the way you broke thins down specifically from top to bottom, but of course all profit and loss statements are different depending on the business that the individual is operating, Because I have a transport business an i don't have to buy any goods so my profit statements are done just a little bit differently, but thank you for giving your analogy on this topic .

[@bradflynnofficial]

Isaiah hoover grateful to help you along.

[@99105945M]

Great brother

[@redcliffepeninsulachambero1902]

Thanks Tamer

[@maslamtry]

Thanks

[@coco_munroe]

Brad - what is we had a bad month and we didn’t pay a lot of those fixed expenses that month but the following. Should those fixed exp still be expenses in the month invoice as received or when the payment was made?
Thanks!

[@bradflynnofficial]

Great question Coco. If it’s ok I will do a video as it may make it easier to understand the answer. Thanks for bringing it up.

[@niroshanthambirajah]

Hi , can you do a video on ebitda please

[@vanishamiranda8807]

if you are producing a 6 month profit and loss statement for a start up business would you include start up capital as income in the profit and loss account or not

[@bradflynnofficial]

Hi Vanisha, start up capital will be an asset as cash in your balance sheet and should not go on P & L. Check out my videos on balance sheets.

[@dginvestor6483]

great.. ilove it

[@bradflynnofficial]

Daniel Gumiran thank you :-)

[@hamaddaud174]

Thank you it is a wonderful video

[@taiwofakoya3706]

Hi Brad,
I can't seem to find your cash flow statement video, only the cashflow projection one. Does the CFS video still exist?
Thanks.

[@bradflynnofficial]

Hi Taiwo, I cant seem to find it either. I will do up another one to replace it. Keep an eye out, thanks for the headsup, in the meantime, you can take a look at my video on connecting financial statements which, shows how the statements work together.

[@taiwofakoya3706]

@@bradflynnofficial Thank you.

[@JK-mt7nd]

Hi Brad...Can you explain flow through please? Thanks!

[@bradflynnofficial]

John Kukreja

[@randistinson6815]

Thanks Brad, as a newbie to business accounting, particularly profit and loss, you made this a bit easier for me to write one for my business!

[@bradflynnofficial]

Randi Biba many thanks for your feedback, glad to help out.

[@plusxme4283]

nice

[@DavidLopez-ou8di]

great Video

[@RageOfFireX]

Does purchases go into the expenses because my teacher said purchases goes in the expenses

[@bradflynnofficial]

RageOfFireX Cant give you a definitive answer on this one, depends on the definition of a a purchase. Check out this site for more info on the specifics of terms though www.accountingcoach.com/terms/P/purchases

[@kpmehendaleandco5938]

we should use profit & loss item in making cash flow statement

[@italianmoviemaker]

How is that you are australian and I can understand you so well? Usually I can't get a word from australians :)
Btw very usefull video.

[@piqapika989]

I want to ask a question..what if the wages not fixed for every month? Where should I put it?

[@bradflynnofficial]

PiqaPika 98 great question. I will do a quick video in the next couple of days to help you out. Keep an eye out for it.

[@bradflynnofficial]

PiqaPika 98 hope I answered your question in my new video I posted yesterday. Have a great day.

[@AlMoshari]

Really thanks from my heary . you make it simple for me . perfect Sir.

[@assdforst5891]

Thanks
I appreciate you time and efforts
your student
Siddig Ahamed Mohamed Marketing professionals

[@khairulfarkhan5290]

U teach better than my bloody lecturer lmaooo!

[@bradflynnofficial]

Haha, thanks for the compliment Khairul :-)

[@mariasunasisse7878]

Save my life

[@bradflynnofficial]

Happy my video helped 🙏

[@assdforst5891]

How to send my Cv

[@waitnotable]

THIS IS INCOME STATEMENT NOT PROFIT AND LOSS ..

[@bradflynnofficial]

Thank you Sammy, can you please explain what you consider as the difference between an income statement and a profit and loss statement?

[@DavidLopez-ou8di]

great Video 👍