Reading Corporate Financial Statements
1h 8mIntermediate2021-03-26
Authors

Denise Probert
CPA Exam Coach and Accounting Professor
Course details
Even for nonprofit organizations or charities, a careful accounting of the money that’s coming in and going out needs to be maintained. Given the importance of an organization’s finances, knowing the ins and outs of creating financial statements immediately gives you a leg up in the workplace. In this course, Denise Probert dives into various corporate financial statements, looking at the common layouts, data points, and organization. She walks you through the creation process with emphasis on the target audience and using solid data that accurately represents the financial status of your organization. Having a solid foundation in financial statements will make you more confident and comfortable in business meetings, and your contributions will bring you greater trust from your colleagues.
Skills covered
Corporate FinanceFinance and AccountingOne-Off
Concepts
Introduction
- The power of financial statements
The Basics of Financial Statement Preparation
- What stories do financial statements tell
- The role of the accounting cycle
- Understanding year-end close
- Finding financial statements for publicly traded companies
- Challenge Finding financial statements
- Solution Finding financial statements
The Basics of Income Statement Preparation
- Recognizing revenue and understanding the revenue recognition principle
- Recording expenses using the matching principle
- Challenge Working with the income statement
- Solution Working with the income statement
The Basics of Balance Sheet Preparation
- The accounting equation and the assets section of the balance sheet
- The accounting equation and the liabilities section of the balance sheet
- The accounting equation and the equity section of the balance sheet
- Challenge Working with the balance sheet
- Solution Working with the balance sheet
The Basics of Statement of Cash Flow Preparation
- The impact of operating activities on the cash flow statement
- The impact of investing activities on the cash flow statement
- The impact of financing activities on the cash flow statement
- Challenge Working with the statement of cash flow
- Solution Working with the statement of cash flow
The Basics of Statement of Stockholders Equity Preparation
- Understanding the statement of stockholder s equity
- Challenge Working with the statement of stockholders equity
- Solution Working with the statement of stockholders equity
Conclusion
- Your next steps in creating financial statements