how to read financial statements course

Course description – How to Read Financial Statements

• Navigate successfully through the notes to the financial statements.
• Read and interpret the various items in a published balance sheet.
• Understand complex balance sheet concepts (e.g. deferred taxes, goodwill, investments, etc.)

Full Answer

How to read and understand financial statements?

Reading Financial Statements course. Learn how to read financial statements. In this 2-part free course, we use a company’s financial statements and annual report to understand the financial strength of a company and help us make informed decisions. Reading & Understanding the …

What are the four basic financial statements?

The three key financial statements. The income statement. Single step vs multi-step income statement. Cost of sales. Selling, general and administration. Gains and losses. Interactive exercise 5. Espresso Software income statement exercise. The cash flow statement.

How to understand a financial statement?

What to know about financial statements?

What you'll learn

Explain how three financial statements (balance sheet, income statement, and statement of cash flows) are used, what the three financial statements measure, and why we need three statements.

Requirements

There are no prerequisites for the course. You do not need to know anything about accounting or finance

Description

If you are in business, you need to speak the language. No matter if you’re in sales, marketing, manufacturing, purchasing, accounting, or finance, you need to speak the language of business.

Who this course is for

Business students who want a big picture view of accounting by understanding the end product, financial statements, not how the end product is created through bookkeeping

Instructor

David Johnson, Ph.D., is a retired full-time faculty member at Northcentral University.

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By the end of this course, you'll be able to

Read the 3 financial statements for every company: the Income Statement, the Balance Sheet, and the Cash Flow Statement.

This course is designed for

Elevate yourself to have a competitive edge in your career and become more effective at your job.

Curriculum

Understand the revenue and cost of “ingredients” that go into creating and delivering products to determine how much money is left over to pay for business operations.

What is financial analysis?

The term financial analysis refers to collecting the financial data for a business, and then making comparisons among different variables in either the same financial statement, across multiple financial statements, or across the business, as a whole. 10 Total Points.

What is the purpose of accounting course?

However, the real language of business lies within accounting--inside the financial statements and financial reporting system. The purpose of this course is to provide a business financial communication tool.

What is accounting in business?

Accounting is the language of business and it allows people to communicate with the operations and transactions of a business, or even an entire industry. 10 Total Points. Review 2 Articles: General Accepted Accounting Principles or GAAP: What does it mean?; The Four Basic Financial Statements: An Overview.

What is the most liquid asset in a business?

Cash is generally regarded as the most liquid of all assets that a business can own, so many managers and business owners have a particular interest in exactly how much cash is available to their business at any given time. 10 Total Points.

Overview

Boost your financial proficiency, learn to accurately interpret financial data and discover how to use your knowledge to make solid financial decisions in this financial statement analysis training.

Who Will Benefit

Small business owners, mid- to upper-level managers, department heads, non-financial professionals and others who want to gain a greater understanding of "the numbers" as they apply to their organization!

What is the difference between financial accounting and managerial accounting?

Financial accounting focuses on the reports that managers generate to provide interested external parties a summary of the firm’s financial position and operations. Managerial accounting focuses on the information and the analytical tools and techniques that help managers and employees make the right business decisions.

What is the University of Illinois?

The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.

Can you see lectures in audit mode?

Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit.