Understanding Financial Statements FREE
Updating your learning record... Please wait.
Learning SummaryDescription:
This module provides an overview of the financial statements prepared according to generally accepted accounting principles (GAAP) in the United States. It explains the information contained in the balance sheet, the income statement, and the statement of cash flows. It also explains how this information can be used to make better business decisions.
Prerequisites:
None
Who should complete this module:
Managers, supervisors, entrepreneurs, and professionals in any discipline who would like to increase their financial literacy; educators and students in business and accounting.
Learning Objectives:
In this module, you will learn to:
1. Identify the basic financial statements.
2. Recognize the accounting terminology used in financial statements.
3. Define the basic accounting equation.
4. Calculate net income.
5. Describe the information contained in each statement and how it can be used for decision-making purposes.
6. Recognize the importance of the notes to the financial statements.
1. Identify the basic financial statements.
2. Recognize the accounting terminology used in financial statements.
3. Define the basic accounting equation.
4. Calculate net income.
5. Describe the information contained in each statement and how it can be used for decision-making purposes.
6. Recognize the importance of the notes to the financial statements.
Competencies Acquired:
Basic financial literacy that involves being able to identify the financial statements, the information presented in each statement, and obtain a general understanding of how these statements can be used for management decision making.
Program Level:
Basic
Duration of Video:
10:16
CPE Credit:
0.5
Delivery Method:
Self Study
Field of Study:
Accounting
Additional Info:
For general information regarding our training modules, including practice exercises and assessments, or information on refunds, concerns and program cancellation policies, please see our Help section under the Resources menu.
Last Revision Date:
1 Oct 2018
ALSO IN THIS TRAINING SERIES
Sign Up