How to Make Business Decisions Using Financial Statements? (Part 1: Introduction of Financial Statements)

Instructed by BlackStorm Consulting - Online Classes

USD99.90 USD19.90
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Lecture count: 18
Description:
2 Week(s) | 2 Hour(s)

About the Course

Solving the right problem in the company starts with understanding the financial performance and correctly identifying tell tales, and interpreting the data that you have collated. After that, it is a multi-step process involving understanding, calculating, and analysing within the financial statement.

Financial Statements accurately reflect the business performance and financial position of the company. Hence, it's very important to help all the company stakeholders evaluate and make suitable financial decisions by comparing the company's performance over a time period. Analysing and reporting financial statements can offer a level of insight that helps businesses remain compliant while streamlining their income or expenditure-centric initiatives across the board.

Course Overview  

In this course,

(1) Understanding your Tools
Before even attempting to prepare or analyse your organisation's financial statements, you will first learn to identify the different purposes of each financial statement to utilise them better. We will do so by going through the uses and limitations of each statement.

(2) Generating the Statements
To start preparing the financial statements, you will need to understand the layout of the financial statements. We will do so by going through the key elements that make up each statement and the calculations involved when preparing the statements.

(3) Analysing Financial Data
After gaining a better understanding of preparing financial statements, you'll also learn how to avoid common mistakes. Subsequently, you'll be able to learn how to interpret analysis drawn from the statements using financial ratios.

By the end of this course, you'll have the skills and confidence to prepare and interpret financial statements for your organisation properly.

 

What is going to be covered

  • Differentiating the types of financial statements
  • Understand the purpose of the financial statements
  • Understand the uses and limitations of each financial statement
  • Learn to prepare the layout of each financial statement
  • Understand the key elements of each financial statement
  • Identify common mistakes made when preparing financial statements
  • Learn ways to interpret each financial statement

Learning Resources  

  • (Slide) Courseware — How to Make Business Decisions Using Financial Statements
  • (Excel) Worksheet — Financial Toolkits — Profit & Loss Statement
  • (Excel) Worksheet — Financial Toolkits — Balance Sheet
  • (Excel) Worksheet — Financial Toolkits — Cash Flow Statement
  • (Slide) Information Sheet — Financial Statements & Financial Ratios

Suitable For  

  • Business owners who wish to gain a better understanding of using financial statements and their analysis
  • Individuals seeking to gain insights into the different types of financial statements and calculations methods

Learning Outcomes  

By the end of the course, you’ll be able to:

  1. Know how to differentiate each financial statement
  2. Identify the key elements of each financial statement
  3. Perform necessary calculations on each financial statement
  4. Avoid the mistakes made when preparing financial statements

Meet your Instructor  

 Shelby Tee
Managing Partner of BlackStorm Consulting

Shelby Tee is the Managing Partner of BlackStorm Consulting. Shelby is always keen on exploring, learning new things, and nothing excites her more than a new challenge. Her expertise lies in corporate and product marketing, project management, business operations and crisis management. Being in the cut-throat world of retail marketing and project management for nine years has allowed Shelby to quickly identify clients’ needs and deliver the best for them. In addition, her experience in a wide variety of industries has led her to adapt to any situation and environment.


Instructor

BlackStorm Consulting


BlackStorm Consulting is a boutique growth consultancy firm that helps organisations grow through our extensive knowledge and by tapping on our network of alliances and partners.We encourage innovation by maintaining an ecosystem for our stakeholders to communicate and collaborate. Our clients and partners are internationally present and range from small and medium-sized businesses, corporates,to government agencies.

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