Corporate Membership – Compliance – Understanding Financial Statements

23 Feb
  23rd February 2021
  9:30am to 4:30pm
  Chamber House

Learn how to make better business decisions with financial information.

In this session we look at creating and maintaining a high-performance culture.

See what your financial statement is trying to tell you. Every business maintains financial records that help us to understand how well it’s doing. In this course, you’ll learn how to read them. You’ll explore a range of financial statements – focusing on income statements, statements of financial position and cash flow statements. You’ll also investigate the different branches of accounting and learn to identify who else in the business uses this accounting information.

What do these statements contain? What do they reveal? Who makes use of them? This course will help you to answer these questions.• 

  • Introduction to accounting and its branches
  • Identifying different users of accounting information and their requirements
  • Overview of financial statements
  • Introduction to income statement
  • Introduction to statement of financial position
  • Introduction to cash flow statement

The learning outcomes for the module will be:

  • Discuss the accounting function and explain the scope, elements and purpose, for different users, when preparing financial statements for internal and external reporting.
  • Describe the key components and purpose of a statement of financial position, income statement and cash flow statement.
  • Demonstrate the relationship between the different elements of the financial statements.
  • Calculate and interpret ratios for profitability, liquidity, use of resources and financial position.
  • Assess the purpose of interpreting ratios in a business environment and provide analysis of the results and conclusions that they have drawn to their interested parties.
  • Establish ‘where has the cash gone?’ and evaluate ways to improve cash flow.

This masterclass is presented by Sarah Harsthorn, from Dyke Yaxley