Understanding financial statements
Cover the basics around the terms and concepts of 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.