The Controller's Guide to Financial Statement Preparation and Presentation 2.5 Credits
The Controllership Series
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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.
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 2.5 CPE | Approved |
| Financial Accounting for Certified Internal Auditors (CIA) | 2.5 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 2.5 CPE | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 2.5 PL | Eligible |
| Accounting for Delaware Licensed Public Accountant (DE-LPA) | 2.5 CPE | Eligible |
| Accounting for Certified Government Financial Manager (CGFM) | 2.5 CPE | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 2.5 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 2.5 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 2.5 CPD | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 2.5 CPE | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 2.5 CPE | Eligible |
| Accounting for Iowa Licensed Public Accountant (IA-LPA) | 2.5 CPE | Eligible |
| Accounting for Maine Licensed Public Accountant (ME-LPA) | 2.5 CPE | Eligible |
| Accounting for CIPM | 2.5 PL | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2.5 CPE | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 2.5 CE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 2.5 CPE | Approved |
| Financial Accounting for Certified Internal Auditors (CIA) | 2.5 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 2.5 CPE | Eligible |
| Financial Reporting for Accredited in Business Valuation (ABV) | 2.5 CPD | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 2.5 PL | Eligible |
| Accounting for Delaware Licensed Public Accountant (DE-LPA) | 2.5 CPE | Eligible |
| Accounting for Certified Government Financial Manager (CGFM) | 2.5 CPE | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 2.5 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 2.5 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 2.5 CPD | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 2.5 CPE | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 2.5 CPE | Eligible |
| Accounting for Iowa Licensed Public Accountant (IA-LPA) | 2.5 CPE | Eligible |
| Accounting for Maine Licensed Public Accountant (ME-LPA) | 2.5 CPE | Eligible |
| Accounting for CIPM | 2.5 PL | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2.5 CPE | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 2.5 CE | Eligible |
Credits
2.5
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
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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.
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How are credits reported to governing bodies?
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
AB
Preparation and Presentation of Financial Statements are very important for Controller and it includes preparation of Income Statement, Balance Sheet, Cash Flow Statement, Foot Notes and Financial Ratios. This webinar and Handout is very helpful in understanding the subject matter with lots of examples and illustrations included in it for anyone could grasp and understand the subject matter very well just concentrating on the Lecture. Also the Cheat Sheet for preparation of cash flow statements are useful tools for construction of Cash Flow statements based on the Logics mentioned on the Cheat Sheet. I really enjoyed watching the Webinar which was almost for 2 hours but i didn't realize how soon it got finished as I was totally engrossed in listening the Lecture and learning the core subject matter!
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.
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