If you're a business professinal who could benefit from a more thorough grasp of
financial statements, this course is tailor-made for you!
You'll quickly master financial statement fundamentals and develop a comprehensive
understanding of how they work, learn how to interpret them accurately, and discover
how to use their information to make more effective, better-informed business decisions
that have a positive impact on your organization's bottom line.
Here's just a sample of what you'll learn:
- How to decipher general accounting terminology and gain a clear understanding of
the language of finance and accounting
- Gain insights to vastly improve your working knowledge and interpretive ability
for balance sheets, income statements, and cash flow statements
- How to use your enhanced knowledge of financial statements to develop better budgeting,
projection, and forecasting skills
- Interpreting annual reports: how to translate their deluge of information into knowledge
that can help you make informed decisions
- How to better communicate with accountants, bankers, comptrollers, and other finance
professionals
- Using financial ratios to analyze trends, conduct industry comparisons, and predict
financial problems before they become insurmountable
In this powerful one-day seminar, you'll take a guided tour through the complexities
of the financial statement. In clear, easy-to-understand language, we'll explain
how to read financial statements, interpret their data, and put that information
to positive use.
This course is designed to give business owners, managers, and other non-financial
professionals an arsenal of tools for understanding, analyzing, and interpreting
financial statements. As a result of this course, you'll have a better understanding
of not only financial statements, but of how their information fits into the "big
picture" at your organization. You'll be able to use the information gleaned
from financial statements to plan ahead for your organization, ensure that cash
flow is regulated, and make timely, educated decisions regarding new product lines,
equipment purchases, business expansion, increasing personnel, borrowing capital,
and much more.
Read Seminar Agenda
How to Read and Understand Financial Statements Seminar Overview
First Things First — Basic Accounting Principles for Non-Financial Professionals
- How to use general accounting terminology (GAAP) like a pro
- Become familiar with the underlying assumptions accountants use when preparing financial
statements: historical cost, revenue recognition, matching principles, product costs,
period costs, full disclosure, conservatism, materiality, and accrual accounting
- What the FASB, SEC, and AICPA are and how they govern accounting methods
- Two primary groups who are users of financial information — who they are,
what they need to know
- The difference between managerial accounting and financial accounting
The Balance Sheet
- Discover what a balance sheet is, and what sets it apart from othe financial statements
- Decipher how accounts are classified within the balance sheet
- "Current," "fixed," and "other" assets — what
they are, how to assess their value to the company
- Use comparative analysis to analyze an organiztion's financial picture over a specified
period of time
Back to Seminar Overview
The Income Statement
- Identify the components of a classified income statement
- Understand why tax expense on the income statement is not always the same as taxes
paid during the year
- Distinguish gains and losses categorized as "extraordinary" and how they
are reflected on the income statement
- Cost of Goods Sold — learn what this means to an analysis of expenses
- Leatn how to determine gross profit, compare to net profit, and draw conclusions
about a company's operating environment
Understanding and Analyzing Financial Statements
- What financial statements can't tell you — review the limitations
of financial analysis
- Using horizontal analysis to determine increases or decreases in income, profits,
and expenses
- Using vertical analysis to compare individual income and expens amounts with net
sales
- An introduction to ratio analysis
- Using ratios to determine profitability: proven formulas for net profit margin,
net operating margin, return on assets, return on equity, earnings per share, and
more
Back to Seminar Overview
Fred
Pryor Seminars and CareerTrack are registered with the National Association of State
Boards of Accountancy (NASBA) as a sponsor of continuing professional education
on the National Registry of CPE Sponsors. State boards of accountancy have final
authority on the acceptance of individual courses for CPE credit. Complaints regarding
registered sponsors may be submitted to the National Registry of CPE Sponsors through
its website: www.learningmarket.org.
This course qualifies for 6 Intermediate Accounting CPE credits. Already attended
this course? You can obtain a certificate documenting your CPE credits by visiting
our certificate page. Certificates
will be available 10 days after your event has ended. You can find more information
on CPE credits, including a complete list of eligible courses, in our
FAQs.
To find out more about How to Read and Understand Financial Statements, contact
our customer service department at customerservice@pryor.com
or by phone at (800) 780-8476.
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