0402 Financial Statements

Part of the Accounting Section of the CEA Curriculum


Most business owners and their advisors are familiar with the traditional model of financial statements. The problem is that even accountants tend to get lost in the details and fail to see the overall wealth of business intelligence that can be gleaned from them, if analyzed correctly. This section presents a revealing new view on financials that CPAs and new entrepreneurs alike will benefit from. In this course, we’ll show you how to make sense of the information.

Learning Objectives:  
After completing this course, you will be able to:

  • Articulate the features of each of the five basic financial statements and what they are
  • Define the difference between GAAP, cash-basis, and tax accounting
  • Define the basic categories of a balance sheet
  • Classify assets, liabilities and equity into proper categories
  • Review a balance sheet and identify problems
  • Construct informative comparative balance sheets
  • Analyze and critique the construction of a balance sheet

Course Curriculum

Introduction to Financial Statements FREE 00:02:00
Financial Statements and the Balance Sheet 00:05:00
Looking at the Balance Sheet 00:03:00
Dividing Up the Balance Sheet 00:04:00
Looking at the Different Sections of the Balance Sheet 00:04:00
Problems with Understanding the Balance Sheet 00:04:00
How to Look At The Balance Sheet 00:05:00
How to Read a Balance Sheet 00:16:00
Reading the Balance Sheet for NonCurrent Assets 00:08:00
Reading the Balance Sheet at Liabilities 00:06:00
Reading the Balance Sheet and Long Term Liabilities 00:06:00
Observations about the Balance Sheet 00:08:00
Cost of Goods Sold Equation 00:05:00
Understanding Gross Margin 00:03:00
Construction Accounting 00:04:00
Looking at Expenses 00:04:00
Strange Acronyms and Methods of Accounting 00:03:00
Problems to be Aware Of 00:02:00
The Cash Flow Statement and the Indirect Method 00:05:00
The Cash Flow Statement and the Direct Method 00:03:00
Cash Flow Activities and the Statement of Owner’s Equity 00:04:00
Notes to Financial Statements 00:02:00
The Accountant’s Report 00:03:00
The Compilation Financial Statement 00:10:00
Reviewed Financial Statement 00:06:00
Audited Financial Statement 00:06:00
Accounting Services 00:03:00
The Accounting Pyramid and Summary of Course 00:04:00

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  • Price Options +
  • 1 year
  • Program Level: Fundamentals/Beginner

    202 minutes | CPE = 4 units

    Field of Study: Finance

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