Limited company and its owner are separate entities. No matter how much the firm sinks due to debts, the owners liability is limited to his initial capital. This limit explain the very name ‘limited company’. (Location 275)

Note: Limited liability company

(there hardly is any wife on the surface of the planet who have not called her husband ‘You are a fit for nothing useless fellow” at least once in life) (Location 462)

Float stock is that portion of the company’s share that is held outside promoters, executives, director and their close associates. (Location 871)

Note: Floats

Book value and net worth are one and the same. (Location 2423)

Note: Book value

The ratio between EBIT and sales amount is referred as operating margin(OPM). (Location 2452)

Note: OPM

Operating margin is a great indicator of managerial abilities as it demonstrates the knack of reducing non value adding activities and constructively utilizing resources by generating effective sales or business. (Location 2455)

Note: OPM

P&L account is for the whole year unlike BS which is for a particular moment. (Location 2464)

Note: P&L vs Balance Sheet