One of the important roles of any member of the financial team, including the controller, may be involved in the preparation of the company's financial statements. Even if that responsibility falls within the office of the CFO, the controller, and other finance personnel must understand how their transitions recorded impact the financial statements.
Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form that is easy to understand.
They typically include four basic financial statements accompanied by a management discussion and analysis:
A balance sheet represents a single point in time, where the income statement, the statement of changes in equity, and the cash flow statement each represent activities over a stated period.
For large corporations, these statements may be complex and may include an extensive set of footnotes to the financial statements, management discussion and analysis, and supplementary information. The notes typically describe each item on the balance sheet, income statement, and cash flow statement in further detail. Notes to financial statements are considered an integral part of the financial statements.
Join this CPE Accounting Webinar of our Controllership Series to understand the preparation and presentation of financial statements.
Owner, Lynn Fountain Consulting and Training
Lynn Fountain has over 39 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.
Ms. Fountain is currently engaged in her own consulting and training practice. She has successfully executed on several consulting assignments spanning areas of accounting, risk, ERM and internal audit. She is a highly sought-after trainer and international speaker and has produced hundreds of courses delivered through seminars, conferences and on-demand training. She is the author of three separate technical books.
Ms.
Fountain obtained her BSBA from Pittsburg State University and her MBA from
Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.
Course Level
Credits
Instructional Method
Pre-requisites
Advance Preparation
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.
RO
Informative session that dove into the complete process of creating the financial statements as well as what metrics to use to look at varying types of businesses. The presenter was well spoken and obviously knew her material well.
JW
I really enjoyed this financial statement overview for the Controllership Series. I am enjoying the series and am looking forward to more CPE from the Controller point of view!
GP
Information was presented well and the instructor knew how deep to delve into the material with the time allotted. Very well planned.
SN
Great explanation of financial statement preparation and inter-relationship of the accounting statements
FR
Lynn Fountain is an excellent presenter. I highly recommend her Controllership Series.
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