Public Lectures

What is a profit and loss account?

Looking to understand profit and loss accounts?

26 Apr 2023 - 26 Apr 2023

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Financial data being analysed

Event Overview

Looking to understand profit and loss accounts?  

At some point you need to understand statements and how you affect the numbers.   

A profit and loss account (also known as the income statement) is one of three key documents that show you the health of your businesses finances.    

This session will take you through the profit and loss account so that you can understand the key financial terms. It will provide with an understanding into tax, gross profit and net profit.  

No prior knowledge of finance or of profit and loss accounting is necessary for this session. 

More information about the finance forum can be found here:



The Finance Forum is a discussion on financial topics of general interest to the public.  The Finance Forum is delivered by academic staff at the University of Cumbria and is not a financial advice service. Participants use the information at their own risk and the University cannot accept liability if things go wrong. 

The information discussed does not constitute financial advice, it is for general information only.  It is not intended to amount to advice which you should rely on.  Everyone’s financial circumstances are different, so participant’s should obtain separate professional financial advice on their specific circumstances.  No undertaking, representation, warranty or other assurance, express or implied, is made or given by the University or on our behalf or any of our officers, employees, agents or advisers or any other person as to the reliability, accuracy or completeness of any content contained on the Finance Forum. 

Always obtain independent financial advice to ensure any conclusions you draw or decisions you make based on the Finance Forum topics are appropriate for your specific circumstances.  No responsibility is accepted by the University for any action taken on the basis of the content of the Finance Forum (to the extent permitted by applicable laws/regulatory rules). Our liability to you as explained above remains unaffected by this. 


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