Understanding financial statements

Cover the basics around the terms and concepts of financial statements.

Want a session in your area? We will provide a CPA volunteer to lead the session with a prepared presentation, activities, handouts and worksheets.
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Time frame: 60 mins

Learning objectives for participants:

  • review and understand financial statements
  • be able to ask informed questions of financial professionals

Outline:

  • How’s the business doing?
  • Did we make money this year?
  • What does my P&L tell me?
  • Why do I need a balance sheet?
  • Where is my cash coming from?
  • Where is my cash going to?
  • Why isn’t my cash equal to my profit?

Learning Materials:

  • Profit and Loss Statement — gives operating results for a specific period
  • Balance Sheet
    • shows the assets, liabilities, and capital of a business or other organization at a particular point in time
    • details the balance of income and expenditure over the preceding period
  • Cash Flow Statement
    • shows how changes in balance sheet accounts and income affect cash and cash equivalents
    • breaks analysis down to operating, investing and financing activities

Questions?

For questions, please email us.

Highlights

Update your knowledge and strengthen your network at this must-attend conference covering the most important issues and trends affecting audit committee members.

It’s probable that someone you know is deep in debt. If you are observant, you might see one of these seven signs.