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All Topics  >  Accounting  > Financial Reporting

 

Featured Course - $129

Accounting Fundamentals Course - During the online accounting course you will learn the basics of accounting education such as double-entry bookkeeping, while also learning how to analyze and record financial transactions, as well as prepare various financial reports at the end of the fiscal period. Accounts receivable, accounts payable, payroll procedures, sales taxes, and various common banking activities will be discussed. Learn more or buy this course.

 

Income Statement Example

A statement that summarizes revenues and expenses.

 

Affordable Training & Certifications

Online Class: Accounting, Bookkeeping, and Finance 101 - This course covers the fundamentals of accounting with the newcomer in mind. Accounting is more than just memorizing terms and procedures; it's a whole new way of thinking about finances. This course assumes students have no prior knowledge about accounting or finance, and delivers lessons and examples to build accounting skills. Specifically, this class addresses accounting terminology, revenue, expenses, net income, the accounting equation, debits, credits, and balancing the accounting formula, the accounting structure, the accounting cycle, journals, ledgers, the trial balance and more. It also guides students to learn how to read financial statements properly, and how to grab meaningful information from the balance sheet, income statements and cash flow statements.

Accounting for Non-Accountants - Accounting for Non-Accountants is a 20-hour strictly online accounting course that requires no textbook or live instructor. It is a self-paced accounting tutorial that can be taken 24/7 conveniently in your own home, office, or from any computer that has access to the Internet.  Click here to view more details

What Executives Need to Know About Interpreting & Analyzing Income Statements (ExecSense Webinars) - In What Executives Need to Know About Interpreting & Analyzing Income Statements, ExecSense examines how to understand the most important parts of an income statement that impact executives, their department, their company, competitors and even their industry as a whole. Take the 60 minutes to view this webinar (on your computer, mobile phone, iPod or printed out) to update your knowledge on income statements so you can understand the impact of key indicators as well as hold your own in a conversation on the topic with your CEO, CFO and other executives.

Accounting Fundamentals Course - During the online accounting course you will learn the basics of accounting education such as double-entry bookkeeping, while also learning how to analyze and record financial transactions, as well as prepare various financial reports at the end of the fiscal period. Accounts receivable, accounts payable, payroll procedures, sales taxes, and various common banking activities will be discussed.

 

Balance Sheet Examples

A statement listing the total assets and liabilities, indicating the net worth of the company for the given time period.

 

Statement of Owner's Equity Example

A statement that summarizes the owner's net worth.

 

Income Statement

The income statement is one of the major financial statements used by accountants and business owners. (The other major financial statements are the balance sheet, statement of cash flows, and the statement of stockholders' equity.) The income statement is sometimes referred to as the P&L (profit and loss statement), statement of operations, or statement of income.

 

Evaluating Financial Performance

Free short course on how to evaluate financial statements using ratio analysis, vertical analysis, and horizontal analysis

 

Common-Size Financial Statements

An easy way to spot trends in your balance sheet and income statement data from a number of years, or to compare your information with that of another company or industry group, is to use "common size" financial statements.

 

 

Balance Sheet

Also called a statement of financial position, a balance sheet is a financial "snapshot" of your business at a given date in time. It lists your assets, your liabilities, and the difference between the two, which is your owner's equity, or net worth.

 

Guide to Understanding Financial Statements

This Guide is for people with little experience reading financial statements or annual reports.

 

Income Statement

Also called a profit and loss statement, or a "P&L," an income statement lists your income, expenses, and net income (or loss). The net income (or loss) is equal to your income minus your expenses.

 

Statement of Cash Flow

Sample of how to create a Cash Flow Statement

 

Statement of Changes in Equity

This type of financial statement is used to bridge the gap between the amount of equity the owners have in the business at the beginning of the accounting period and the amount of their equity at the end of the period.

 

Statement of Changes in Position

The statement of changes in financial position provides data that are not explicitly present in the balance sheet or the income statement. This statement helps to explain how your company acquired its money and how it was spent. This statement can also help to identify financing needs, to identify cash drains, and to identify holes in the cash budgeting process.

 

What to do with Your Financials

The creation of your financial statements is largely a mechanical exercise. The numbers to be used are found in your accounting records after the books are closed at the end of the period; to draw up the statements, you, your accountant, or your accounting software simply look up the numbers and plug them into the statement.

 

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