UNDERSTANDING FINANCIAL STATEMENTS, PT2

Using Dangote Sugar Refinery Plc

Hi ya,
It’s a new week again… where does it end? 😂

I am officially done reading The 12 Week Year. I even went ahead to vibe-code an app based on the concept. My friend, Emmanuel, helped make the app live, and here’s a link for anyone looking to try it out.

The app has sections for weekly goals (Week 1–12), to-do lists, a goals tracker, an accountability squad, focus mode (to block distractions from other apps), and some inspiring quotes.
I think technology is amazing, and I am so excited for what’s to come.

Anyhoo, check out my app and do well to share it with your friends.

Today, I want to show you how the elements appear in a financial statement. We talked about the elements last week (A.L.I.C.E), I hope you still remember.
I’ll be using Dangote Sugar’s audited financial statement to illustrate this.

Assets, Liabilities and Capital (Equity, as seen above) can be found in the Statement of Financial Position (commonly known as the balance sheet).

While Income (Revenue and any other type of Income) and Expenses are found in the Statement of Profit or Loss, as seen above.

Note: These are 2/5 components of the financial statement and i’ll talk more on the components in my next article. In the meantime, you can try to make sense of the elements in the financial statement.

This is a pretty short article but i hope you take time to put 2 and 2 together.

Have a fantastic week ahead.

Ciao!

Song of the week: Tony on the Road by Igwe Aka