Financial Statements training
Our Financial Statements course looks at the prime sources of financial information. Throughout the course, we must keep in mind the importance of maintaining good cash flow to avoid the pressure of unexpected demands on the financial resources of a business which may, in extreme cases, lead to its failure.
The preparation of the three key statements is described in detail and a number of examples are suggested for study. Knowledge of the interpretation of balance sheets and profit and loss accounts is essential for effective decision making, as well as the statutory requirements for reporting, and are discussed in this course.
The interpretation of these statements is explained, mainly through the use of a range of ratios which indicate the effectiveness of the financial management of the business and its stability. With reference to these, the effects that budgets have on operations are described, along with the topics of depreciation and the importance of working capital management.
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Aims of the Financial Statements course
The learning material has been developed by UK university professors and is mapped against OFQUAL awarding body learning outcomes and assessment criteria.
By the end of this course you will be able to:
- Be able to prepare simple financial statements in appropriate formats
- Be able to investigate the use of each of the key financial statements for decision making
- Understand the limitations
- Understand the different methods commonly used to report financial information
- Understand the concepts of going concern and accruals
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