How to Prepare Financial Statements

Course Description

Financial statements are written records that convey the business activities and the financial performance of a company.

Financial statements include:

• Balance sheet
• Income statement
• Statement of Cash Flows
• Statement of Shareholders' Equity
  

The financial statements are used by investors, market analysts, and creditors to evaluate a company's financial health and earnings potential. This CPE course covers the basics of financial reporting and analysis. This continuing education course demonstrates the process of preparing a complete set of financial statements, including discussions of the basic accounting equation, journal entries, ledgers, and contra accounts (e.g., accumulated depreciation and treasury stock). The last two videos address the differences between accruals and cash flows, and the items that reconcile net income on the income statement with net cash from operating activities in the operating section of the statement of cash flow.             

Designed for Accountants in public practice and industry who need to gain an understanding of the basic financial statements, the CPE course features the following:

• Form and style considerations (standardization and presentation considerations)
• A detailed review of classification, measurement, and presentation issues specific to accounts in each of the basic financial statements
• Issues associated with the presentation of supplementary information

Join us for this CPE Accounting webinar and you will learn to effectively prepare financial statements.

Learning Objectives

• To state the basic accounting equation and explain how it relates to the financial statements
  
• To apply the basic accounting equation to transactions that lead to a simple balance sheet.
• To apply the basic accounting equation to transactions that lead to a complete set of financial statements.
• To describe the structure and role of journal entries and ledgers.
• To determine the use of journal entries and ledger accounts to prepare a simple balance sheet.
• To describe the use of journal entries and ledger accounts to prepare a complete set of financial statements.
• To determine how closing entries transition the financial statements from one period to the next.
• To define contra accounts and the role it plays in the financial statements.
• To define treasury stock and describe where it can be found on the financial statements.
• To demonstrate how the sale of non-inventory assets affects the financial statements.
• To discuss and illustrate the difference between the accrual basis and cash basis of accounting.
• To demonstrate using several examples how net income on the income statement can be reconciled with net cash from operating activities on the statement of cash flows.

Recommended For

• This accounting CPE course for CPAs is recommended for CMAs, CVAs, CIAs, Accountants, Staff of Accounting Firms, and Accounting Freshers desiring to learn to prepare financial statements.
  

Who Should Attend?

Webinar Qualifies For

• 2.5 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
• 2.5 CPE Credit of Accounting & Auditing for Certified Management Accountants (CMA)
• 2.5 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
• 2.5 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
• 2.5 CPE Credit for Internal Audit Practitioner (IAP)
• 2.5 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
• 2.5 CPE Credit of Financial accounting for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
• 2.5 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
• 2.5 CPE Credit for Certified Government Financial Manager (CGFM)
• 2.5 CRE Credit for Certified Corporate FP&A Professional (FPAC)
• 2.5 PL Credit for Chartered Financial Analyst (CFA)
• 2.5 PL Credit for Certificate In Investment Performance Measurement (CIPM)
• 2.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
• 2.5 CE Credit for Certified Wealth Strategist (CWS)
• 2.5 General Credit for Accountant/Bookeeper
• 2.5 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)
• 2.5 CPD Credit of Accounting for Chartered Professional Accountant (CPA Canada)
• 2.5 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
• 2.5 CPD Credit for CA - ICAEW
• 2.5 CPD Credit for Chartered Certified Accountants (ACCA)
• 2.5 CPD Credit for Chartered Accountants - Ireland (CAI)
• 2.5 CPD Credit for Chartered Accountants - Scotland
• 2.5 CPD Credit for CPA - Ireland

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