Core Financial Statement Concepts
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Core Financial Statement Concepts

This course discusses key concepts of the primary financial statements used by every company.
0.0 (0 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
6 students enrolled
Last updated 6/2017
English
Current price: $10 Original price: $50 Discount: 80% off
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Includes:
  • 1.5 hours on-demand video
  • 2 Articles
  • 2 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Explore the components of assets, liabilities and equity and varying formats of presentation.
  • Identify what “balancing” the balance sheet means.
  • Discover the relationship to income statement components.
  • Identify what comprises revenue.
  • Explore varying types of income statements.
  • Identify expenditures.
  • Recognize Net Income/Loss and flow through to balance sheet.
  • Explore why the cash flow statement is king.
  • Discover what the cash flow statement tells the company.
  • Recognize how the cash flow statement links to the balance sheet and income statements.
View Curriculum
Requirements
  • Exposure to basic accounting, including the main financial statements.
Description

Accountants and finance personnel are schooled in the basics of the concept of financial statements during their educational years. The focus is often on the calculations, format and purposes of the statements. Once professionals enter the working world they find that the financial statements are truly an integral tool for managing and monitoring the financial health of an organization.

This course is focused on discussing the concepts of the primary financial statements utilized at every company: balance sheet, income statement, cash flow statement and retained earnings statements. Many professionals feel uncomfortable with trying to read and interpret the financial statements. In reality, if you can read a nutrition label you can learn to read the financial statements.

Rather than focus on the computations and tactics of each of the statements, we will cover the important concepts of how the statements interact and relate to each other providing management with the critical information needed to manage financial stability of their organization. It is important professionals recognize that no one statement tells the complete story, but combined they provide a powerful tool for management.

Who is the target audience?
  • Anyone interested in accounting, finance, and related fields.
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Curriculum For This Course
9 Lectures
01:31:07
+
Introduction
7 Lectures 01:31:05


The Income Statement
09:57

Cash Flow
03:26

Footnotes and MD&A
09:43

Course Summary
04:05

Critical Concepts Full Video
45:31
+
Supporting Materials
2 Lectures 00:01
Slides: Critical Concepts
00:00

Critical Concepts Glossary Index
00:01
+
REVIEW AND TEST
0 Lectures 00:00

REVIEW QUESTIONS: Critical Concepts to Understand on the Balance Sheet, Income Statement, Cash Flow and Retained Earnings

REVIEW QUESTIONS
3 questions

FINAL EXAM: Critical Concepts to Understand on the Balance Sheet, Income Statement, Cash Flow and Retained Earnings

FINAL EXAM
5 questions
About the Instructor
Illumeo Learning
4.2 Average rating
51 Reviews
554 Students
159 Courses
Condensed and Efficient Courses for Busy Professionals

Illumeo, incorporated in 2009, is revolutionizing the hide-bound world of corporate learning. Illumeo works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job.

Based in Silicon Valley, CA, Illumeo serves thousands of corporations and corporate professionals across Finance, Accounting, Human Resources, Sales and Marketing. The platform offers assessments, industry-benchmarked competency analyses, hundreds of expert-developed courses, collaborative tools, and the ability for companies to self-publish internal courses that promote institutional knowledge retention and dissemination.

Illumeo is the place for expertise management and we are dedicated to the proposition that everyone can be an expert at their job.

Lynn Fountain (Illumeo)
4.5 Average rating
3 Reviews
39 Students
6 Courses

Ms. Fountain has over 30 years of experience in the business profession, which includes public and industry accounting and over 20 years within internal and external auditing combined. She is a nationally recognized trainer and speaker and also a published author. She is a subject matter expert and specializes in Internal Audit, Sarbanes-Oxley, Enterprise Risk Management, Fraud, Governance and Compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. She currently performs consulting for companies on internal audit, risk management, internal controls, financial reporting and accounting along with performing training. She has also been instrumental in the establishment of ERM, Sarbanes-Oxley and Governance frameworks

Ms. Fountain has developed and delivered leading edge training sessions on COSO, Internal Audit, ERM, Accounting, Leadership, Governance, Compliance and Ethics. She has numerous recorded webinars on Illumeo dot com.

Ms. Fountain has authored a publication for the Institute of Internal Auditors Research Foundation (IIARF) titled “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”. The publication will be released April 20, 2015. In addition, she is authoring a publication for Auerbach on “The Realities of performing the Chief Audit Executive Role”. The publication will be released in the Fall 2015. In addition, she has performed as an adjunct instructor for the School of Business for Grantham University and the School of Business at the University of Kansas.

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate.