How to read your company's financial report

Article Abstract:

Selected accounting terms and concepts are described for the benefit of managers who do not have an accounting background, but do want to understand their companies' financial reporting. The three essential financial statements to be found in an annual report are the balance sheet, the income statement, and the statement of changes in financial position. The balance sheet gives the financial position of the firm: what the company owns and what it owes as of a certain date. The income statement, or profit and loss statement, tells what the company has earned and spent over a given period of time. The statement of changes shows the sources and uses of the company's money. It is also likely that the financial report will have footnotes explaining the accounting methods used, and that it will use ratios to chart financial performance.

Interpretation and construction, Reports, Accounting, Financial statements, Corporation reports, Company reports

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Employee ownership: we're the bosses now

Article Abstract:

An assessment of the current management system in Tower Colliery and Brighton Transport reveals the working patterns of employee-owned companies. Neither company has changed its management structure much. In Tower Colliery the work culture has changed in that employee-owners and management relate on a more equal footing than before. In Brighton Transport because both management and employees were involved in the buyout, there is no visible change in culture. The trade unions are said to play a role in both companies. However, the role of the trade unions is stronger in Tower Colliery than in Brighton Transport.

United Kingdom, Analysis, Management, Employee ownership, Tower Colliery, Brighton Transport

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