Finance Fundamentals

The 2 modules in this series are intended to lay a strong foundation for understanding the financial principles discussed in subsequent sessions. Using easy to understand jargon-free language, Dr. Lamba introduces the two most important financial statements & eliminates a number of misconceptions usually associated with commonly-used-yet-often-misinterpreted terms.

Module 1 – Understanding Financial Statements

In this session Dr Lamba introduces the P/L A/c and B/S explains how to make these statements with the help of a three-minute formula demystifies the two dreaded words, Debit and Credit, that create confusion in the minds of many and discusses the similarity and distinction between terms like Expenses, Assets, Incomes and Liabilities.

Module 2 – What is Profit?

Every business is run with the objective of making profit. However the term itself is often misconstrued. In this session Dr Lamba explains the ‘concept of profit’, and takes a philosophical look at the role of ‘Expenses’ and the part played by ‘Inventory’ in arriving at, and sometimes manipulating, profit.

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