Welcome to ATS' own wiki.
Read and remember the rules and conventions, they can be found at Help
So if you read the sensor readout, and wondering what the flags on the far right mean, here are what they mean:
3 Ship 100 4 65 115.912 P 112 48 75.00i V OSS Gold Longsword ABEeMS (as an example readout, but this isn't all the flags)
A - it is active, the ship is on
a - ship is accelerating
b - beam weapons are armed
B - beam weapons are locked on you
E - EWS (Electronic Warfare System) is on
e - reactors are powered
m - missiles are armed
M - missiles are locked on you
t - tractors are on
T - tractors are locked on you
X - ship is disabled