Accounting Principles Flashcards
1
Q
What is a profit and loss account?
A
An income statement shows the company’s income and expenditure during a particular period (quarter / year)
Income less direct expenses = Gross Profit / Loss
Gross Profit / Loss less overheads = Net Profit / Loss
2
Q
What is a balance sheet?
A
A balance sheet shows a company’s assets, liabilities at a specific point in time
3
Q
What is a cash flow?
A
A cash statement summarises the movement of money into and out of the business
4
Q
What KPI’s are measured in your meetings?
A
Fees received in the team
Fees per agent
Monthly new customers
Monthly new leads / prospects
Profit margin
