On-demand
0 hour 36 min
$19.90
Pay
BlackStorm Consulting

BlackStorm Consulting

BlackStorm Consulting is a boutique growth consultancy firm that helps organisations grow through our extensive knowledge and by tapping on our network of alliances and partners. We scale businesses in Southeast Asia.

Solving the right problem in the company starts with understanding the financial performance and correctly identifying tell tales, and interpreting the data that you have collated. After that, it is a multi-step process involving understanding, calculating, and analysing within the financial statement.

 

Financial Statements accurately reflect the business performance and financial position of the company. Hence, it's very important to help all the company stakeholders evaluate and make suitable financial decisions by comparing the company's performance over a time period. Analysing and reporting financial statements can offer a level of insight that helps businesses remain compliant while streamlining their income or expenditure-centric initiatives across the board.

Course Overview



In this course,

 

01. Understanding your Tools
Before even attempting to prepare or analyse your organisation's financial statements, you will first learn to identify the different purposes of each financial statement to utilise them better. We will do so by going through the uses and limitations of each statement.

 

02. Generating the Statements
To start preparing the financial statements, you will need to understand the layout of the financial statements. We will do so by going through the key elements that make up each statement and the calculations involved when preparing the statements.

 

03. Analysing Financial Data
After gaining a better understanding of preparing financial statements, you'll also learn how to avoid common mistakes. Subsequently, you'll be able to learn how to interpret analysis drawn from the statements using financial ratios.


By the end of this course, you'll have the skills and confidence to prepare and interpret financial statements for your organisation properly.


••• 

What is going to be covered

·      Differentiating the types of financial statements

·      Understand the purpose of the financial statements

·      Understand the uses and limitations of each financial statement

·      Learn to prepare the layout of each financial statement

·      Understand the key elements of each financial statement

·      Identify common mistakes made when preparing financial statements

·      Learn ways to interpret each financial statement

Learning Resources



·       (Slide) Courseware — How to Make Business Decisions Using Financial Statements

·       (Excel) Worksheet — Financial Toolkits — Profit & Loss Statement

·       (Excel) Worksheet — Financial Toolkits — Balance Sheet

·       (Excel) Worksheet — Financial Toolkits — Cash Flow Statement

·       (Slide) Information Sheet — Financial Statements & Financial Ratios

Suitable For

·       Business owners who wish to gain a better understanding of using financial statements and their analysis

·       Individuals seeking to gain insights into the different types of financial statements and calculations methods

Learning Outcomes

By the end of the course, you’ll be able to:

·       Know how to differentiate each financial statement 

·       Identify the key elements of each financial statement

·       Perform necessary calculations on each financial statement

·       Avoid the mistakes made when preparing financial statements

Meet your Instructor


Shelby Tee
Managing Partner of BlackStorm Consulting

 

Shelby Tee is the Managing Partner of BlackStorm Consulting. Shelby is always keen on exploring, learning new things, and nothing excites her more than a new challenge. Her expertise lies in corporate and product marketing, project management, business operations and crisis management.

 

Being in the cut-throat world of retail marketing and project management for nine years has allowed Shelby to quickly identify clients’ needs and deliver the best for them. In addition, her experience in a wide variety of industries has led her to adapt to any situation and environment.

Description

Covers how to differentiate the three types of financial statements and what they’re used for respectively.

 

There are a total of 18 videos covering four lectures in this course:

·      Lecture 1: Overview

·      Lecture 2: Profit & Loss Statement

·      Lecture 3: Balance Sheet

·      Lecture 4: Cash Flow Statement

 

You will be able to access the following materials in this course:

·      Course Slide Deck (PDF)

·      Info Sheet (PDF)

·      Financial Toolkits (Excel)

Description

Before we start preparing financial statements, we have to understand the different types of statements available

Description

Understand the two types of accounting methods used in preparing financial statements.

Description

Understand the purpose, uses and limitations of the Profit & Loss Statement.

Description

Understand how a Profit & Loss Statement will look like.

Description

Understand how the Profit & Loss Statement may vary across different industries.

Description

Identify the key elements in the Profit & Loss Statement and the calculations that derive them.

Description

Understand the differences between the two types of costs – Cost Of Goods Sold (COGS) and operational expenses, both can be found in the Profit & Loss Statement.

Description

Identify the common mistakes made in the Profit & Loss Statement and learn how to avoid them.

Description

Learn how to interpret the quantitative data found in the Profit & Loss Statement.

Description

Understand the purpose, uses and limitations of the Balance Sheet.

Description

Identify the key elements in the Balance Sheet and study the formulas.

Description

Identify the common mistakes made in the Balance Sheet and learn how to avoid them.

Description

Learn how to interpret the quantitative data found in the Balance Sheet.

Description

Understand the purpose, uses and limitations of the Cash Flow Statement.

Description

Identify the key elements in the Cash Flow Statement and study the formula. 

Description

Identify the common mistakes made in the Cash Flow Statement and learn how to avoid them.

Description

Learn how to interpret the quantitative data found in the Cash Flow Statement.

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