The Making of Financial Statements

OVERVIEW

All businesses have financial transactions. These transactions are transformed into three financial statements that indicate the financial results produced from these transactions. Results are expressed in required statements: Balance Sheet, Income Statement, and Cash Flow Statement.  These statements provide the language that communicates the financial health of the company to its managers and stakeholders.

The transformation process is called accounting and viewed by most non-financial professionals as a complicated scientific process that is difficult to comprehend. This webinar converts that myth to real meaning and indicates how transactions are transformed into financial statement in simple, easy to understand and apply tools and techniques using interactive exercises and examples. 

It’s guaranteed that you will be amazed and impressed at how simple it is to understand the process of transforming transactions into statements!

WHY SHOULD YOU ATTEND

Non- Financial professionals need the skills and tools to analyse financial statements in the management control and application of resources for which they are responsible. There are several myths about accounting that must be overcome to gain a basic knowledge of accounting and how transactions are transformed into statements. These myths are converted to meaning. Doubt and uncertainty about accounting are removed with simple to understand and apply tools and technique.

AREAS COVERED

 What You Will Learn:

• The overall connection of financial transactions to required statements of:
• Balance Sheet
• Income Statement
• Cash Flow Statement

The basic framework of finance and accounting and the concepts and principles used to transform transactions Components of each financial statement using sample statements  Six Generic type of transactions in every company Simple comparison of business to personal financial statements Simple meaning of finance and accounting Simple meaning of cash vs. accrual accounting Simple explanation of debits and credits with actual exercises to illustrate their application in transforming transactions to statements Simple examples of accounts and how transactions are recorded using debits and credits with actual attendee exercises and sample transactions Simple explanation of double entry accounting and why it is key to the process of accounting accuracy

LEARNING OBJECTIVES

Overall you will lean in simple to understand and apply tools and techniques how business financial transactions are transformed to financial statements.

WHO WILL BENEFIT

This Webinar is primarily designed for all Non-Financial Professionals who have the management and control of resources. Financial professionals can also benefit as a refresher. Primary focus is on Non-Financial Professionals. It is Accounting 101 made simple!!