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Managerial Financial Statements
Rating: 4.5 out of 5(31 ratings)
1,272 students
Created byAlex Finman
Last updated 10/2022
English

What you'll learn

  • Managerial understanding of financial terms such as Net profit
  • Understanding the management purpose of each financial statement
  • Knowing the difference between Income and Cash flow statements
  • Transforming financial statements into Management tools
  • Basic skills in reading financial statements

Course content

1 section • 6 lectures • 45m total length

  • Question for you3:00

    This part is going to challenge your understanding  of Net Profit. Please check your confidence, knowledge and intuition at the start of this course. You can rely on your common management sense, but not only on accounting rules. Sometimes it works even better.

  • Net Profit5:35

    In this part,  you will get acquainted with the idea of the management balance sheet.  You will also know the definition of Net Profit from  the owners point of view.

  • Management Balance Sheet10:32

    In this part,  you will get acquainted with the general management balance sheet framework.

    Don't struggle too much trying to grasp and remember everything at once. Just get the general idea and enjoy the journey.

  • Balance sheet practice3:47

    In this part, we will do some practice with the balance sheet. We will define the net profit using the management balance sheet approach. 

  • Management Income and Cash flow statements9:10

    In this part, we will go through basic management ideas for the Income and Cash flow statements. 

  • Preparing Financial statements13:01

    In this part, you will get acquainted with the preparing management financial statements . We will complete this practice without traditional accounting books  to focus you more on the features of the Balance sheet, Income and Cash flow statements for management purposes only.

Requirements

  • No accounting experience needed. You will learn everything you need to know

Description

Thinking of finance, there is  always one problem for managers in the  business world. 

They are often unfamiliar with the real meaning of financial terms. This course will help those who are interested to learn the framework of managerial financial statements. The balance sheet, Income and Cash flow statements are explained here from the management and owners' point view. This knowledge would be especially useful  not so much for academic purposes but mainly for business practices.

Before we begin, It would make sense to clarify the difference between managerial and external financial statements. 

Managerial Financial Statements

The main purpose of Managerial financial statements is to provide owners and managers with timely, reliable information about business performance for decision making in the most convenient and useful format. 

External Financial Statements

External financial statements are those distributed outside of the company's management. The usual recipients of this information are government agencies, banks and other external institutions. These statements are quite strictly regulated by national legislation and international accounting standards which is not always best suitable and convenient for management purposes.

We focus on Managerial Finance in this course. 

At first, I am going to challenge your understanding  of Net Profit. Please check your confidence, knowledge and intuition at the start of this course. You can rely on your common management sense, but not only on accounting rules. Sometimes it works even better.


Who this course is for:

  • Managers and owners of small and medium-sized enterprises who do not have specialised education background in finance

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