Understanding Your Financial Statements - Part 1
Does the thought of discussing your financial statements make you cringe?
Do you know what your financial statements say about your company?
Do you understand the terms Assets, Liabilities, Equity and Net Income?
This is a two-part workshop that will help you understand the basic financial statements and make you familiar with (1) the information required to prepare the financial statements, (2) how to interpret the financial statements and (3) how decisions are made from the information provided in the financial statements.
The first workshop will cover the Income Statement - the statement of operations. You will learn the information reported on the Income Statement. We will discuss revenue, expenses and net income, and how this information is interpreted by users like banks and lenders.
