Financial Reporting
The Basics of Financial Statements
The Income Statement, Balance Sheet, and Cashflow Statement Explained
1 CPD credit on completion
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Certificate on completion
Downloadable resources
Self-paced learning
About This Course
Course Information
The learning outcomes from this CPD refresher training course include understanding the roles of the: Income Statement Balance Sheet Cashflow Statement
Certificate on Completion
This course is made up of videos, questions and additional reading materials, and accounts for 1 unit of CPD. One unit is the equivalent of one hour of learning.
Course Sections
This course is made up of the following sections:
- The income statement (video)
- The income statement (quiz)
- The balance sheet (video)
- The balance sheet (quiz)
- The cashflow statement (video)
- The cashflow statement (quiz)
What You Will Learn
- Calculate net revenue using the formula: income from ordinary business minus discounts minus returns
- Explain the income statement equation and how revenue, expenses, and net income relate to each other
- Describe the accounting equation and how assets, liabilities, and equity connect on the balance sheet
- Identify the three categories of the cashflow statement: operating, investing, and financing activities
- Apply revenue recognition timing rules, including when risks and rewards transfer to the buyer
Who This Course Is For
- Professionals new to accounting who need a grounding in the three primary financial statements
- Finance team members who want to refresh their understanding of income statement and balance sheet basics
- Non-finance managers who need to read and interpret financial statements in their roles
Prerequisites
- No prior accounting knowledge is required
- This course is designed as a starting point for those new to financial statements
Frequently Asked Questions
Course Details
CPD Credits1
CertificateYes
Pricing
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Everything included in your subscription:
CPD certificate on completion
Downloadable resources
Self-paced learning
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