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Introduction to Financial Statements and the Environment of Financial Reporting

  • Accountant
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM
  • FPAC
  • CWS

Published: March, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description


  • Why financial statements are important
    1 mins
  • Financial statements for microline
    24 mins
  • How large an investment in assets was required to create those profits?
    43 mins
  • Accounting firms
    64 mins
  • Debt & Equity
    84 mins

Course Description

A financial statement is a formal report of the financial activities of a business, person, or other entity. Financial statements are a key component of accounting; the process of communicating information about a financial entity. 

Financial statements are presented in a structured manner with conventions accepted by accounting and regulatory personnel. An entity’s financial statement typically includes four basic components: a balance sheet, income statement, cash flow statement, and statement of changes in equity.

This CPE course is an introduction to financial statements and will highlight:

  • What are financial statements
  • Why financial statements are important?

This CPE accounting webinar also includes a description of the environment in which they are prepared and used as well as a description of the concept of corporate governance. It will also emphasize the role of financial statements in measuring how well companies have performed on key factors of business success. 

Speaker Jamie Pratt in this CPE course covers the preparation and use of financial statements as well as the accounting methods used in constructing the financial statements.

Major topics covered in this online Accounting CPE webinar:

  • The components of a financial statement
  • Uses of the financial statement
  • Limitations of the financial statements
  • Financial statement analyses
  • The environment of financial reporting
  • The environment of corporate governance

Learning Objectives

  • To analyze the components of a financial statement.
  • To analyze why financial statements are important and how they are used.
  • To discuss the four financial statements and explain how they differ.
  • To list the 5 basic questions, in order, that cover the concepts measured by the financial.
  • To inspect the environment of corporate governance.

Recommended For

  • This accounting CPE course for CPAs is recommended for CPA (US), CMA, CIA, QIAL, IAP, CFE, CVA, ABV, CBA/MCBA, CGFM,  FPAC, CFA, CIPM, CFF, Accountants, Staff of Accounting Firms, and other accounting professionals desiring to learn about the environment of financial reporting.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Fraud Examiner
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Young CPA

Course Qualification

Webinar Qualifies For

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

Additional details

  • Course Level :
  • Credits :
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
  • Advance Preparation :


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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 through its website:


About Presenter

Lambers, Inc.

, Lambers, Inc.

Lambers Financial is a leader in providing E-learning courses for accounting professionals looking to achieve the industry's most recognized designations such as the Certified Public Accountant (CPA) and Enrolled Agent (EA). Accounting and finance professionals around the world incorporate Lambers products into their training programs.

Lambers CPA Review was started by Vincent W. Lambers in July of 1966 in Boston, MA. The first class had six students and from that point, the program grew to be the largest live instruction CPA Review program in New England. The Lambers teaching method of illustrations, examples and working problems has helped over 250,000 candidates pass the CPA Exam since that first class in 1966.

Today, Lambers review courses deliver that same successful teaching style to exam candidates via online video, unique adaptive testing software, and textbooks. Over the last two decades, we've expanded our offerings to include the Enrolled Agent (EA), an extensive library of both IRS approved continuing education (CE) courses (including the IRS Federal Tax Refresher (AFTR) course for registered tax professionals), and NASBA approved continuing professional education (CPE).

See why Lambers Financial has remained a leader in professional education for over fifty years! Visit our website today to check out our full line of review courses and titles.


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Ratings and Review


12 Ratings



Very Good









Harvey Busby, CPA (US), CVA

Apr 4th, 2022

The presenter was excellent. a very insightful program, which demonstrated great analysis techniques. However, I couldn't take notes fast enough and the final exam did not appear at the end of the video. I would also liked to have seen my final quiz score.


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