Understanding Financial Statements
This one day course is part of the 3 day Certificate in Financial Management module and the 12 day Management Essential Program. While the course is designed to be independent in nature, please consider whether maximum value can be obtained by taking it as part of a broader program.
The session will cover the content, meaning and interrelationship of each of the following statements:
- Income Statement
- Balance Sheet
- Statement of Retained Earnings
- Statement of Cash Flow
Practical in-class examples and problems are used to illustrate the use of each financial statement and to illustrate the kind of management enquiry and decisions that result.
- Determine the purpose of each of the financial statements and their use in assessing the operational and financial health of a business
- Appreciate the interrelationship between the various financial statements
- Determine cash versus book income, and the critical role of cash flow in operations
- Comprehend the concept of working capital and why it is so critical to lenders.
- Understand leverage and its role in increasing return and risk.
Who should attend
- Mid-level to senior managers in non-financial areas or those needing a refresher on current financial tools and concepts
- Small business owners and entrepreneurs
- Professionals such as engineers, lawyers and consultants.