The task of creating financial statements stands as a cornerstone in the realm of accounting, critical for effective decision-making and financial transparency. Yet, the process, from closing the books to calculating financial ratios, is often fraught with complexities and nuances that can challenge even seasoned professionals. Essentials of Creating and Analyzing Financial Statements, led by experienced instructor Steven Bragg, addresses these challenges head-on. This course guides you through the entire journey of financial statement preparation, ensuring accuracy and timeliness - key factors in management decision-making. Steven shares best practices gleaned from his extensive experience, offering a resource you'll find indispensable in this vital process. By completing this course, you'll gain not only the technical skills to produce robust financial statements but also the analytical acumen to interpret and apply the data effectively.
This course covers material also contained in Accountants' Guidebook.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
Identify terminology, core steps, and key parts of the process of closing the books and generating financial statements.
Chapter 2
Identify the different formats in which the financial statements can be constructed and presented.
Recognize the purpose, information needed, and source documents to reference for the different types of financial statements.
Recognize the formula requirements of a balanced balance sheet and how to classify asset information.
Chapter 3
Recognize the reporting requirements and issues associated with interim period information.
Recognize the components, tests, and key reporting requirements for segment reporting.
Recognize the closing process and reporting requirements for public company reports.
Chapter 4
Identify what to measure, how to measure consistently, and the timing of measurements.
Recognize the characteristics of different business ratios and the calculation methods employed for those ratios.
Major Topics
Closing Books
Financial Statements
Public Company Financial Reporting
Business Ratios
Rationales
