Understanding Financial Statements

This course is designed for the individual who needs to understand basic accounting in order to interpret financial statements. It is ideal for individuals who are accountable for public funds but are not accounting experts!

Basic terminology and normal account balances are covered.
Please note: No computers are used in this course.

Admission Requirements:

A sample of your organization’s balance sheet, income statement or other financial statements for clarification.

Course Outline and Information:

Topics Include:

  • Financial accountability and responsibility
  • Principal users of financial statements
  • Principal financial statements
    • The balance sheet
    • The income statement
  • Assets
  • Liabilities
  • Equity and retained earnings
  • Revenue
  • Expenses
  • Surplus/Deficit
  • Review of financial statements
  • Flagging the obvious
  • Asking questions – it’s your responsibility!
  • Executive summary/abstract

Hours and Duration:
full day [six hours] – 9am to 4pm
can also be delivered in two half-day sessions.