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READING & UNDERSTANDING FINANCIAL STATEMENTS – Virtual Courses
November 29, 2022 @ 9:00 am – November 30, 2022 @ 4:00 pm
You pay all kinds of money to your accountant to prepare annual financial statements for your business, but do you really know how to read them? This workshop goes through the sections of basic financial statements including balance sheets, income statements and supporting documents to give you a thorough understanding of the information they contain. You will learn how to use common ratios used by lenders and investors to determine the health of your business, as well as ways to thoroughly analyze the information contained in the statements.
Course Objectives
- To learn how the double entry accounting system works
- To develop an understanding of the principles of accounting used in financial statements
- To learn what information is included in a balance sheet
- To learn what information is included in an income statement
- To learn how to analyze the information in financial statements
- To learn how to prepare a statement of cash flows
Course Outline
A. Bookkeeping Basics
- Double entry accounting – a simple explanation
- Assets, liabilities, equity, income & expense accounts
- Debits and credits
B. Generally Accepted Accounting Principles (GAAP)
- Common GAAPs used in accounting
- How does this apply to your business?
C. Basic Financial Statements
- Balance SheeT
- Income Statement
- Statement of Cash Flows
D. Understanding the Financial Statements
- How can you use this information to manage your business
- What do the numbers tell you?
- Using financial ratios to analyze the business
E. Be the Banker
- Practice sessions analyzing a variety of businesses
Date: November 29 & 30, 2022
Time: 9:00 a.m. – 4:00 p.m.
Location: Aurora College, Yellowknife Campus
Cost: $600.00
Instructor: Heather Lyon
