Please help me explaining what does the following code written in assembly language mean. I am a newbie to the assembly language coding so please correct if i am going wrong somewhere and I do not know whether my question is very basic or not but I really need to understand it.

:004030F3 7427 je 0040311C
:004030F3 4840 dec eax, inc eax

What does the first part in both the instructions mean i.e :004030F3 7427 (in 1st line ) and :004030F3 4840 (in 2nd line)

And then how
:004030F3 7427 je 0040311C (offset 24F3)
becomes
:004030F3 4840 dec eax, inc eax


Please help ..

Thanks in advance !!!!