Understanding Financial Statements

$60.00
no certificate

- OR -

$85.00
with CEU Certificate*

Start Right Now!

Taking multiple courses? Save with our platinum program.

12

Lessons
13

Exams &
Assignments
7

Hours
average time
0.7

CEUs
80

Students
have taken this course

Course Description

Accounting is the language of business. However, the real language of business lies within accounting--inside the financial statements and financial reporting system. The purpose of this course is to provide a business financial communication tool. Financial statements such as the balance sheet, income statement, statement of cash flow, and the statement of stockholders' equity are all used as communication tools to answer questions about the state of a company's financial well-being; they provide insight into the financial position and the financial health of a company over a defined period of time.

This course walks the learner from the beginning stages of accounting and GAAP principles, through the balance sheet, income statement, statement of cash flow, and statement of stockholders' equity. Next, the course discusses applied financial statement analysis involving the movement of cash flow through a company and its effects, along with financial ratio analysis which greatly helps stock investors make investment decisions. Finally, the course covers accounting fraud, the mechanisms of fraud, how to spot fraud, and even the methods that are used by unscrupulous accountants and business managers to commit fraud or "cook the books".

This course provides learners with a solid understanding of financial statements. This financial knowledge is used by accountants, managers, and investors to make smart and strategic business decisions.

Completely Online
Self-Paced
6 Months to Complete
24/7 Availability
Start Anytime
PC & Mac Compatible
Android & iOS Friendly
Accredited CEUs

Universal Class is an IACET Accredited Provider

Course Lessons

Average Lesson Rating:

"Extraordinarily Helpful"

(110 votes)

Lesson 1: Understanding GAAP and FASB

The best way to understand accounting is to think of it as a language. Accounting is the language of business and it allows people to communicate with the operations and transactions of a business, or even an entire industry. 10 Total Points

Review 3 Articles: General Accepted Accounting Principles or GAAP: What does it mean?; The Four Basic Financial Statements: An Overview; Elements of the Income Statement
Complete: Exam 1

Lesson 2: The Financial Statements Included in an Organization's Financial Reporting Structure

In order to keep an accurate and efficient record of ongoing financial activities, every enterprise will prepare standardized documentation known as financial statements 10 Total Points

Review 2 Articles: The Four Basic Financial Statements: An Overview; Complete Guide To Corporate Finance
Complete: Exam 2

Lesson 3: How to Itemize and Interpret the Information Provided in the Income Statement

An income statement, also commonly called a profit and loss statement, reflects a businesss expenses and revenues over a specified period of time. 10 Total Points

Review 2 Articles: Understanding The Income Statement; Income Statement Format Example
Complete: Exam 3

Lesson 4: The Balance Sheet

The simplest way to understand a balance sheet is to think of it as a snapshot of a company's financial position at a particular point in time. 10 Total Points

Review 2 Articles: Breaking Down The Balance Sheet; What balance sheet formats are available?
Complete: Exam 4

Lesson 5: The Statement of Stockholders' Equity

The statement of stockholders' equity can help investors, managers, and accountants get a clear picture of a business's ownership profile. 10 Total Points

Review Article: Format and Example of Statement of Stockholders Equity
Complete: Exam 5

Lesson 6: The Statement of Cash Flows

The main goal of the statement of cash flows is to provide information regarding how a business generates cash, the cash receipts, and cash payments of the business during a given time. 10 Total Points

Review 3 Articles: Cash Flow Statement- Explanation; What is cash from operating activities?; What are cash flows from investing activities?
Complete: Exam 6

Lesson 7: The Impact of Working Capital and Business Activities on Cash Flow

Cash is generally regarded as the most liquid of all assets that a business can own, so many managers and business owners have a particular interest in exactly how much cash is available to their business at any given time. 10 Total Points

Review 2 Articles: How do changes in working capital affect a company's cash flow?; Understanding Cash Flow Analysis
Complete: Exam 7

Lesson 8: Financial Ratio Analysis and Its Objectives and Limitations

The term financial analysis refers to collecting the financial data for a business, and then making comparisons among different variables in either the same financial statement, across multiple financial statements, or across the business, as a whole. 11 Total Points

Review 2 Articles: Ratio Analysis: Using Financial Ratios; Four Basic Types of Financial Ratios Used to Measure a Company's Performance
Complete: Exam 8

Lesson 9: The Different Types and Categories of Financial Ratios

Financial ratios are a type of quantitative analysis for financial statements. 10 Total Points

Review 2 Articles: Categories of Financial Ratios; Financial Ratio Tutorial
Complete: Exam 9

Lesson 10: Performing Calculations Using Financial Ratios

Financial ratios are used to measure a company's productivity in terms of how well it is using assets, profits generated from each unit of sale, rate of inventory turnover, etc. The ratios are indicators for current financial health, as well as a company's potential. 10 Total Points

Review 3 Articles: Financial Ratios Based on the Income Statement; Trend Analysis; 16 Financial Ratios for Analyzing a Company?s Strengths and Weaknesses
Complete: Exam 10

Lesson 11: Financial Statement Fraud, Reasoning, and Consequences

As technology increases and the world becomes more reliant on financial data for global interaction, there is a greater risk for financial fraud to occur. 10 Total Points

Review 3 Articles: Detecting Financial Statement Fraud; Examples of Corporate Fraud Investigations; Warning Signs of Fraud on an Income Statement
Complete: Exam 11

Lesson 12: What Does Cooking the Books Mean?

This lesson is designed to show you methods of cooking the books -- not to facilitate you in preparing fraudulent financial reports, but rather to help you spot signs of fraud in a business and its financial reports. 70 Total Points

Take Poll: Course Completion Poll: Your Thoughts
Complete: Exam 12
Complete: Final Exam

181

Total Course Points

Additional Course Information

Document Your Lifelong Learning Achievements
Earn an Official Certificate Documenting Course Hours and CEUs
Verify Your Certificate with a Unique Serial Number Online

View and Share Your Certificate Online or Download/Print as PDF
Display Your Certificate on Your Resume and Promote Your Achievements Using Social Media

Course Title: Understanding Financial Statements

Course Number: 8900343

Languages: English - United States, Canada and other English speaking countries

Category:

UniversalClass.com > Accounting and Bookkeeping > Basic Finance Skills

Course Type: Professional Development (Self-Paced, Online Class)

CEU Value: 0.7 IACET CEUs (Continuing Education Units)

CE Accreditation: Universal Class, Inc. has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET).

Grading Policy: Earn a final grade of 70% or higher to receive an online/downloadable CEU Certification documenting CEUs earned.

Assessment Method: Lesson assignments and review exams

Instructor: UniversalClass Staff Instructor

Syllabus: View Syllabus

Duration: Continuous: Enroll anytime!

Course Fee: $60.00 (no CEU Certification) || with Online CEU Certification: $85.00

Choose Your Subscription Plan

Course Only

One Course
No Certificate / No CEUs

$60

for 6 months

Add to Cart

Billed once
This course only

Includes certificate	X
Includes CEUs	X
Self-paced
Instructor support
Time to complete	6 months
No. of courses	1 course

Certificate Course

One Course
Certificate & CEUs

$85

for 6 months

Add to Cart

Billed once
This course only

Includes certificate
Includes CEUs
Self-paced
Instructor support
Time to complete	6 months
No. of courses	1 course

Platinum Yearly

ALL COURSES
Certificates & CEUs

$189

per year

You save 50%!

Start Now

Billed once
Includes all 500+ courses

Includes certificate
Includes CEUs
Self-paced
Instructor support
Time to complete	12 Months
No. of courses	500+

Platinum Monthly

ALL COURSES
Certificates & CEUs

$59 first month

$29.00 / each consecutive month thereafter

Start Now

Billed monthly
Includes all 500+ courses

Includes certificate
Includes CEUs
Self-paced
Instructor support
Time to complete	Monthly
No. of courses	500+

Related Courses

Accounts Receivable Management

Accounts Receivable management is a demanding job. You'll be making decisions that can make or break a company. Your role is unique and complex--one that is closely integrated into the overall customer service of your company. In this course, we'll ...

$75.00
0.5 CEUs 5h
Accounts Payable Management

This course is a training guide for the new manager of an accounts payable department. It will help you step into your new role and take a commanding and successful lead. This course will take what you know and enhance it by adding management princi...

$75.00
0.7 CEUs 7h
Financial Analysis 101: Planning and Control

The crux of financial analysis lies with its purpose. It may be the company's focus on short-term liquidity or its long-term planning. Financial statements provide a picture of the company's financial condition. Forecasting involves analyzing these ...

$85.00
0.7 CEUs 7h
Accounting & Bookkeeping 101 for Everyone

Accounting & Bookkeeping 101 for Everyone is a course that covers the fundamentals of accounting with the newcomer in mind. Accounting is more than just memorizing terms and procedures; it's a whole new way of thinking about finances. This cours...

$90.00
3.2 CEUs 32h
Human Resources Productivity Course Bundle

Human Resources Management 101: Today, many managers enter the world of human resources simply because they are exceptional managers. They have climbed the rank and file of the corporate ladder, succeeding at each rung, to the point where they are ...

$120.00
2.9 CEUs 29h
Writing Help Course Bundle

Writing Basics 101: Spelling, Grammar, Punctuation, Writing Structures: Most of us learned spelling and grammar in elementary school and brushed up on the rules occasionally in junior high or middle school. Once we entered high school, it was assu...

$135.00
6.1 CEUs 61h
Ultimate Secretary Bundle

General Secretary 101: If you've been thinking about becoming a secretary, you should know that times have changed. While the computer has replaced the typewriter, the secretary is still an important part of the office setting. In this General Secr...

$150.00
3.8 CEUs 38h
Marketing 101

Have you ever wondered how a product makes it to market? How a business decides what type of advertising to use, and who the ideal customer is? Are you interested in direct and online marketing, or the global marketplace? Are you looking to obtain a...

$90.00
0.9 CEUs 9h
Habits of Millionaires

Today more than ever before, people from all walks of life are becoming millionaires. There are several explanations for this including the worth of the dollar, the internet, and the study of those who have become millionaires. Learning how a millio...

$75.00
0.5 CEUs 5h
Business Math 101

This course takes you through an overview of the wonderful world of business mathematics. The course is designed for a person of any age and anywhere in the world. All that is required of the learner are a computer, a connection to the internet, a...

$75.00
1.2 CEUs 12h
Business Consulting 101

Business consulting is a growing sector of the employment and business industry. There has been no better time to join the consulting industry, based on industry...

$95.00
1.1 CEUs 11h
Report Writing 101

Introduction to Report Writing Organizing and writing reports for business can take up a lot of valuable time and money. They are a necessary evil used to explain and/or justify expenses, events, accidents, policy changes, as well as document nume...

$75.00
1.0 CEUs 10h
Interpersonal Communication

This is a course on interpersonal communication, which is essentially a focus on communication within two-person relationships. This course presents concepts essential to understanding the complex dynamics that go into constructing and maintaining o...

$75.00
0.7 CEUs 7h
SEO Copywriting

SEO is a term you see a lot, especially if you are a freelance writer, or if you are contemplating becoming a freelance writer. SEO stands for Search Engine Optimization, and is, simply put, the way to get your content found on the Web. When adverti...

$75.00
1.0 CEUs 10h
Business Law for Entrepreneurs

This course provides the important legal information you want as an entrepreneur and business owner. The course is ideal for helping you decide important factors to consider when leaving your current employer and taking the jump to your own business...

$80.00
0.7 CEUs 7h
Debt Reduction

This course teaches the concept of debt reduction and shows students how to wisely manage credit and personal debt. It is based on the premises that there are a lot of lifestyle changes and financial decisions that one can make to take control of hi...

$75.00
1.0 CEUs 10h
Understanding Financial Statements

Accounting is the language of business. However, the real language of business lies within accounting--inside the financial statements and financial reporting system. The purpose of this course is to provide a business financial communication tool. ...

$85.00
0.7 CEUs 7h
Kaizen 101 - An Introduction

In Japan, continuous improvement has been a key part of personal development and business culture for decades, but it's a relatively new concept in the western culture. The Japanese term for continuous improvement is Kaizen which simply means change...

$75.00
0.5 CEUs 5h
Business Branding 101

Take a look around you. Everywhere you look, you are faced with brands. From the brand of your television to the brand of your car, you are constantly surrounded by brands, and the many products they represent. In this course, you will go through an...

$75.00
0.6 CEUs 6h
Business Etiquette

Proper Business Etiquette is a fundamental requirement for all jobs. Great business etiquette can set you apart from the competition and position your career in the right direction for growth and opportunity. In this course we look at several factor...

$75.00
0.5 CEUs 5h
Business Analysis

How can you make a significant difference in your organization? One way is to be part of a project that improves the company's performance or launches it in a new direction. The business analyst (BA) plays a key role in the development and execution...

$95.00
1.2 CEUs 12h
Business Writing

We live in a world where communication is paramount to survival. In a work environment where communication is equated with the professionalism and efficiency of an individual, would you jeopardize your career because of bad writing? Do you want the ...

$95.00
1.9 CEUs 19h
Sensitivity Training in the Workplace

The most successful organizations and professionals understand that being able to work well with others is critical in today's increasingly diverse workforce. If you have co-workers, employees, or managers who don't share the same beliefs, backgroun...

$75.00
0.7 CEUs 7h
Business Professionalism

From preparing for an interview to resigning from your job, this course covers the proper business etiquette and professionalism you need to know to be successful in the workplace. Information is appropriate for professionals in any position from en...

$75.00
0.5 CEUs 5h
Personal Finance 101: How to Manage Your Money

Imagine you're going on a trip…It sounds odd, but your journey to understanding, growing and maintaining personal finance starts with your imagination. That's not all it takes, but, by imagining, dreaming and believing, these intangibles will ...

$75.00
0.5 CEUs 5h
Business Ethics

Business ethics is an important part of any industry. Students or managers, unfamiliar with many ethical challenges, behaviors, or regulations will find themselves struggling in business industries that include finance, accounting or human resource ...

$75.00
1.1 CEUs 11h
Business Budgeting 101: How to Plan, Save, and Manage

This course will show you everything you need to know about business budgeting and cost cutting. You will be introduced to the different aspects of business financial tools and will have an essential primer to current business trends in cost cutting...

$75.00
0.5 CEUs 5h
Business Credit 101

Business Credit 101 provides potential and current business owners with the necessary knowledge to successfully use credit within their business. There are many reasons why business operators rely on credit to maximize their business potential, but ...

$75.00
0.7 CEUs 7h
Business Management

Introduction to Business Management The world of business management offers an array of career opportunities unparalleled among income earning possibilities. Industries from mining to waste disposal have management-level positions in many compani...

$110.00
0.9 CEUs 9h