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Reading Corporate Financial Statements

Reading Corporate Financial Statements

1h 8mIntermediate2021-03-26

Authors

Denise Probert

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

0. Introduction

  • 01 - The power of financial statements

1. The Basics of Financial Statement Preparation

  • 02 - What stories do financial statements tell
  • 03 - The role of the accounting cycle
  • 04 - Understanding year-end close
  • 05 - Finding financial statements for publicly traded companies
  • 06 - Challenge - Finding financial statements
  • 07 - Solution - Finding financial statements

2. The Basics of Income Statement Preparation

  • 08 - Recognizing revenue and understanding the revenue recognition principle
  • 09 - Recording expenses using the matching principle
  • 10 - Challenge - Working with the income statement
  • 11 - Solution - Working with the income statement

3. The Basics of Balance Sheet Preparation

  • 12 - The accounting equation and the assets section of the balance sheet
  • 13 - The accounting equation and the liabilities section of the balance sheet
  • 14 - The accounting equation and the equity section of the balance sheet
  • 15 - Challenge - Working with the balance sheet
  • 16 - Solution - Working with the balance sheet

4. The Basics of Statement of Cash Flow Preparation

  • 17 - The impact of operating activities on the cash flow statement
  • 18 - The impact of investing activities on the cash flow statement
  • 19 - The impact of financing activities on the cash flow statement
  • 20 - Challenge - Working with the statement of cash flow
  • 21 - Solution - Working with the statement of cash flow

5. The Basics of Statement of Stockholders' Equity Preparation

  • 22 - Understanding the statement of stockholder's equity
  • 23 - Challenge - Working with the statement of stockholders' equity
  • 24 - Solution - Working with the statement of stockholders' equity

Conclusion

  • 25 - Your next steps in creating financial statements

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