Understanding Financial Statements
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- Jan 16 '18 · MONTROSE, CO
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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.
Since Fred Pryor pioneered the one-day seminar in 1970, Pryor has helped more than 11 million people reach their career goals by offering comprehensive, affordable and convenient business, compliance and safety training. What began with Fred's drive to make learning accessible, efficient and economical through the founding of Fred Pryor Seminars, expanded with the acquisition of CareerTrack and has continued to grow Pryor into an industry leader offering competitive training for every industry and sector through Pryor Learning Solutions.
Staying true to Fred's mission to deliver the best and most cost-efficient continuous learning experience across the U.S. and Canada continues with Pryor Learning Solutions' true blended learning approach that includes live and online learning options. With Pryor, attend seminars, schedule on-site training, or gain access to more than 40 years of curated content in a cloud-based learning environment that doesn't obligate special IT requirements, pricey budgets or complicated timelines. You're fully operational in as little as three days and only three clicks away from unlimited learning options for your entire team.
Begin with a single seminar, or seize the opportunity to expand training to your entire team through Pryor's customer-focused Corporate and Government learning programs. Depending upon the educational opportunities you select, learning partnerships with Pryor have the potential to include:
- Intuitive and complimentary cloud-based learning environment requiring no specialized IT install, cost or downtime included with all year-long learning plans. Guaranteed access to training in three days and three clicks. Or, if you already have an LMS platform, port our content to your existing LMS and receive live training opportunities as well.
- Access to more than 4,700 online courses, with new content added at no additional charge.
- Robust training categories and meticulously curated content ranging from accounting, communication, compliance and workplace safety to customer service, HR, IT, leadership, OSHA, project and time management and more.
- Blended training options for any learning preference with in-person seminars, online quizzes, videos, webinars, and e-books.
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- Advanced administration features like single-click reporting, assignable training, employee tracking and real-time goal measurement.*
- The opportunity to schedule on-site training solutions for just-in-time learning needs, or to ensure compliance and safety reporting to minimize workplace liability.
- Continuing education credits for CEU, CPE, HRCI, PDC, PDU.
- Accessible learning across a multitude of supported mobile devices.
- Satisfaction guaranteed.
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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