“If you don’t have regular and accurate financial statements, you’re driving your business 100 miles an hour down a one-way street the wrong way, at night, in the fog, without lights.”, — Jim Blasingame said.
Solving the right problem in the company starts with understanding the financial performance and correctly identifying tell tales, and interpreting the data that you have collated. After that, it is a multi-step process involving understanding, calculating, and analysing within the financial statement.
Financial Statements accurately reflect the business performance and financial position of the company. Hence, it’s very important to help all the company stakeholders evaluate and make suitable financial decisions by comparing the company’s performance over a time period. Analysing and reporting financial statements can offer a level of insight that helps businesses remain compliant while streamlining their income or expenditure-centric initiatives across the board.
In this course,
- Understanding your Tools
Before even attempting to prepare or analyse your organisation’s financial statements, you will first learn to identify the different purposes of each financial statement to utilise them better. We will do so by going through the uses and limitations of each statement. - Generating the Statements
To start preparing the financial statements, you will need to understand the layout of the financial statements. We will do so by going through the key elements that make up each statement and the calculations involved when preparing the statements. - Analysing Financial Data
After gaining a better understanding of preparing financial statements, you’ll also learn how to avoid common mistakes. Subsequently, you’ll be able to learn how to interpret analysis drawn from the statements using financial ratios.
By the end of this course, you’ll have the skills and confidence to prepare and interpret financial statements for your organisation properly.
What is going to be covered
- Differentiating the types of financial statements
- Understand the purpose of the financial statements
- Understand the uses and limitations of each financial statement
- Learn to prepare the layout of each financial statement
- Understand the key elements of each financial statement
- Identify common mistakes made when preparing financial statements
- Learn ways to interpret each financial statement
Learning Resources
- (Slide) Courseware — How to Make Business Decisions Using Financial Statements
- (Excel) Worksheet — Financial Toolkits — Profit & Loss Statement
- (Excel) Worksheet — Financial Toolkits — Balance Sheet
- (Excel) Worksheet — Financial Toolkits — Cash Flow Statement
- (Slide) Information Sheet — Financial Statements & Financial Ratios
Suitable For?
- Business owners who wish to gain a better understanding of using financial statements and their analysis
- Individuals seeking to gain insights into the different types of financial statements and calculations methods
Learning Outcomes
By the end of the course, you’ll be able to:
- Know how to differentiate each financial statement
- Identify the key elements of each financial statement
- Perform necessary calculations on each financial statement
- Avoid the mistakes made when preparing financial statements
Visit this link on Techgoondu to enrol in this course today!
About BlackStorm Consulting
BlackStorm Consulting (http://blackstormco.asia/) is a Singapore-based boutique growth consultancy firm that specialises in corporate strategy, profit management and investment management. We scale businesses in Southeast Asia.Our clients and connections are internationally present and range from small and medium sized businesses, MNCs, to government agencies.
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