The creation of financial statements is arguably the most important and visible task the industry accountant performs. In Essentials of Creating and Analyzing Financial Statements, instructor Steven Bragg explains how to create financial statements, beginning with closing the books, progressing to creating the statements, and concluding with calculating key financial ratios. The information generated during this process is essential to management's ability to make financial decisions; it is necessary for this information to be accurate and completed in a timely manner. This course outlines the best practices Steven identified while working as an industry controller and CFO and will give you a resource that you will repeatedly turn to as you complete this vital process.
This course covers material also contained in Accountants' Guidebook.
Upon successful completion of this course, participants will be able to:
- Identify terminology, core steps, and key parts of the process of closing the books and generating financial statements.
- Identify the different formats in which the financial statements can be constructed and presented.
- Recognize the purpose, information needed, and source documents to reference for the different types of financial statements.
- Recognize the formula requirements of a balanced balance sheet and how to classify asset information.
- Recognize the reporting requirements and issues associated with interim period information.
- Recognize the components, tests, and key reporting requirements for segment reporting.
- Recognize the closing process and reporting requirements for public company reports.
- Identify what to measure, how to measure consistently, and the timing of measurements.
- Recognize the characteristics of different business ratios and the calculation methods employed for those ratios.
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