How to Read and Understand Financial Statements
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- Apr 27 · CLEVELAND, OH
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Learn how to make sense of complex financial reports and discover what they really mean -- no prior knowledge of finance or accounting is required. If you're a business professional 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. 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. 6 CEUs. Fee per person: $249; $229 each for three or more attendees.
Fred Pryor Seminars
Finance & Accounting
Who Should Attend?
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.
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Learn how to make sense of complex financial reports and discover what they really mean -- no prior knowledge of finance or accounting is required.
If you're a business professional 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.
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 other 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 organization's financial picture over a specified period of time
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
- Learn 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 expense 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.
Fred Pryor Seminars and CareerTrack, divisions of PARK University Enterprises, Inc., create one of the most respected international providers of professional seminars. Since pioneering the one-day seminar in 1970 as Fred Pryor Seminars, our organization has built a reputation for high-quality, convenient, and practical business-skills training around the world, in every industry and sector.
Today, with more than 5,000,000 satisfied customers, we continue to pride ourselves in providing the superior training you’ve come to expect from Fred Pryor Seminars and CareerTrack. Our cutting-edge research and course development are designed to meet the adult learning needs of your employees and your organization.
Fred Pryor and CareerTrack are your number one choices for training because we offer:
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As we continue to grow, expand, and change to meet client and market needs, we always remember that every individual customer matters and that collectively, they are our most valuable assets. That’s why our goal is the same today as it was 30 years ago – to provide the best choice in business skills training with maximum convenience to help you – our customer – achieve success!
Cancellation Policy: You may cancel your registration up to 10 business days before the seminar. Your registration fee will be refunded less a cancellation fee. If you need to cancel less than 10 business days prior to the seminar you may (1) send a substitute from your organization or (2) transfer your registration fee within 12 months to another seminar or conference of your choice. Please note that if you don't cancel and don't attend, you are still responsible for payment. Substitutions may be made at any time.
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