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Introduction to Financial Statements and the Environment of Financial Reporting

  • ACCT/BK
  • CPA/ABV
  • CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • CFA
  • IAP
  • QIAL
  • ACCA
  • CIPM
  • CBA/MCBA
  • FPAC
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • 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

Overview

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

Additional details

  • Course Level :
    Basic
  • Credits :
    3
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

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 through its website: www.NASBARegistry.org.

Presenter

About Presenter

Lambers, Inc.

Owner, 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.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.6

5 Ratings

Excellent

3

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2

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HB

Harvey Busby, CPA (US), CVA

Apr 5th, 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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