Online Class: Understanding Financial Statements

no certificate
with CEU Certificate*
-
12Lessons
-
14Exams &
Assignments -
533Students
have taken this course -
7Hours
average time -
0.7CEUs
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.
Course Motivation
- Completely Online
- Self-Paced
- 6 Months to Complete
- 24/7 Availability
- Start Anytime
- PC & Mac Compatible
- Android & iOS Friendly
- Accredited CEUs

Course Lessons
Lesson 1: Understanding GAAP and FASB
Lesson discussions: Reasons for Taking this Course
Complete Assignment: Motives for Taking this Course
Assessment: Exam 1
Lesson 2: The Financial Statements Included in an Organization's Financial Reporting Structure
Assessment: Exam 2
Lesson 3: How to Itemize and Interpret the Information Provided in the Income Statement
Assessment: Exam 3
Lesson 4: The Balance Sheet
Assessment: Exam 4
Lesson 5: The Statement of Stockholders' Equity
Assessment: Exam 5
Lesson 6: The Statement of Cash Flows
Assessment: Exam 6
Lesson 7: The Impact of Working Capital and Business Activities on Cash Flow
Assessment: Exam 7
Lesson 8: Financial Ratio Analysis and Its Objectives and Limitations
Assessment: Exam 8
Lesson 9: The Different Types and Categories of Financial Ratios
Assessment: Exam 9
Lesson 10: Performing Calculations Using Financial Ratios
Assessment: Exam 10
Lesson 11: Financial Statement Fraud, Reasoning, and Consequences
Assessment: Exam 11
Lesson 12: What Does Cooking the Books Mean?
Lesson discussions: Course Completion Poll: Your Thoughts; Course Comments; Program Evaluation Follow-up Survey (End of Course)
Assessment: Exam 12
Assessment: Final Exam
Learning Outcomes
- Define understanding GAAP and FASB.
- Summarize the financial statements included in an organization's financial reporting structure.
- Describe how to itemize and interpret the information provided in the income statement.
- Recognize The Balance Sheet.
- Identify The Statement of Stockholders' Equity
- Summarize The Statement of Cash Flows.
- Describe the impact of working capital and business activities on cash flow.
- Describe financial ratio analysis and its objectives and limitations.
- Describe the different types and categories of financial ratios.
- Summarize performing calculations using financial ratios.
- Summarize financial statement fraud, reasoning, and consequences.
- Define what cooking the books means.
- Demonstrate mastery of lesson content at levels of 70% or higher.
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

Choose Your Subscription Plan
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Includes certificate | X |
Includes CEUs | X |
Self-paced |
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Instructor support |
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Time to complete | 6 months |
No. of courses | 1 course |
Certificate & CEUs
This course only
Includes certificate |
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Includes CEUs |
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Self-paced |
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Instructor support |
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Time to complete | 6 months |
No. of courses | 1 course |
Certificates & CEUs
Includes all 600+ courses
Includes certificate |
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Includes CEUs |
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Self-paced |
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Instructor support |
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Time to complete | 12 Months |
No. of courses | 600+ |
Certificates & CEUs
Includes all 600+ courses
Includes certificate |
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Includes CEUs |
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Self-paced |
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Instructor support |
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Time to complete | 24 Months |
No. of courses | 600+ |
Student Testimonials
- "The course was very informative and helpful as a personal investor. I appreciated the lessons' content and format. Equally, the written content is easy to follow and reader friendly. Also, quick feedback on exams are insightful." -- Larry J.
- "It was very helpful - particularly the SOX discussion and the financial ratios." -- Mike B.
- "It was very helpful for someone of my limited knowledge on the subject." -- Christopher G.
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