Bookkeeping and Accounting

Profit and Loss Statements Simplified (CPE27)

Unit Code: CPE
CPE Hours: 1
Enrolment term: 30 days
Fee: $45.00 inc GST
Resources: Internet and computer or tablet.

Objective: In this short program we focus on key concepts applicable to financial statements and apply a simplified approach on how to read and understand a Profit and Loss Statement.

BONUS - Learn how to create a Profit & Loss Statement using easy Excel Pivot Tables, with Slicers to make it interactive and funky with Conditional Formatting.

The program covers:
- Common terminology
- The basics of Financial Statements
- Financial Statements versus Management Reports
- Cash versus Accrual accounting methods
- Differences between service and product-based businesses
- Understand the five sections of a Profit and Loss Statement (P&L)

Duration: 40 minutes to complete the online learning module. A further 20 minutes is allocated to complete the Activities and Quiz.
Pass Mark: 75% pass mark overall.
Attempts: Two (2).

Accreditation: Approved CPE Details/Format: Online Outcome/Learning: Key concepts of financial reporting and ... Type: Unstructured Evidence of Completi...: Certificate CPE Hours: 1

  • Learner Resource
  • Quiz
  • Feedback - How did we do?
Completion rules
  • All units must be completed
  • Leads to a certificate with a duration: 1 year