Understanding financial statements

Time frame: 60 mins

Learning objectives for participants:

• review and understand financial statements
• be able to ask informed questions of financial professionals

Outline:

• How’s the business doing?
• Did we make money this year?
• What does my P&L tell me?
• Why do I need a balance sheet?
• Where is my cash coming from?
• Where is my cash going to?
• Why isn’t my cash equal to my profit?

Learning Materials:

• Profit and Loss Statement — gives operating results for a specific period
• Balance Sheet
  • shows the assets, liabilities, and capital of a business or other organization at a particular point in time
  • details the balance of income and expenditure over the preceding period
• Cash Flow Statement
  • shows how changes in balance sheet accounts and income affect cash and cash equivalents
  • breaks analysis down to operating, investing and financing activities

Questions?

For questions, please email us.

Want a session in your area?

We will provide a CPA volunteer to lead the session with a prepared presentation, activities, handouts and worksheets. Note: If more than one session is needed, please fill out a second form and submit.

Request guidelines:

• 12 weeks’ notice needed to setup a session.
• Requests must be submitted by the request deadline.
• If more than five sessions are needed, please contact us directly.

For more information, visit setting up a financial literacy session.