In this course we discuss each of the main financial statements, the income statement (P&L), the balance sheet, and the cash flow statement, describing what each one does, how they are utilized by companies in measuring financial performance, and how they relate to one another.
We then follow with a basic set of financial statements for a simple company, reviewing what we laid out up front about what the statements accomplish and how they interact. We finish by reviewing a set of financial statements from a publicly traded company to show that no matter how big the company, the fundamentals are the same.
This online self study program in the field of accounting serves as an overview for accounting and finance professionals who need to sharpen their fundamental understanding of the core financial statements and how they work together.
Prerequisites
No advanced preparation or prerequisites are required for this course.
Learning Objective
- Demonstrate what each financial statement does and how they are utilized by companies both large and small.
- Measure your company’s performance through the use of financial statements.
- Sharpen your understanding of how financial statements work together.
Last updated/reviewed: March 20, 2024
(136) Reviews
(81 rating)Trainer Lynn Fountain does a good job defining the traits of an ethical leader in a corporate context.
I found the personality style quadrant very helpful in understanding my need for flexibility and learning "how to read the room." Much more flexibility compared to Myers-Briggs. I particularly appreciated the instructor's perspectives on how we can adapt our behaviors to work effectively work with counterparts who demonstrate different styles.
Very good introductory course. Topics were clearly explained with appropriate examples.
This was a very informative course and enjoyed the instructor presentation and knowledge. I dont have no background in this area, however I wanted to get exposure and was surprised to see so much information on the subject matter. Will take additional courses with this instructor.
I found this course to be a great refresher about professional skepticism. It's important to have reminders about ethics and skepticism. All course objectives were met.
It was packed with detailed information with great structure!
Liked very much the topic to my next interviewer process. Thanks!
Very clear explanations and examples of Ethics vs Morality vs the Law. Also, how we operate within each. Lynn gave a thorough and thoughtful presentation. I always enjoy and learn from her training.
I was interested in internal controls and this course gave me the information regarding them that i was seeking, so i liked it a lot
It was good overall. Question #2 on the Final Exam has 2 of the same answers as choices.
Contrary to my expectation that the course would cover real-life payroll materials, it mostly dealt with the basic accounting principle.
Course covered the topics stated. Was nice that it is broken down into a multi-part series so it is not too much info at one time.
Rob does an outstanding job of effectively teaching the Key Performance Indicators and KPI Dashboards. The course was well-structured, providing a comprehensive understanding of KPIs and their critical role in measuring and driving business performance. The content was insightful and easy to follow, with a perfect blend of theory and practical examples. The section on creating KPI dashboards was particularly valuable, offering hands-on guidance on designing and implementing effective dashboards that provide real-time insights into business performance. The instructor was knowledgeable and engaging, making complex concepts accessible and relevant. The interactive elements and practical exercises helped reinforce the learning and provided me with the confidence to apply these concepts to my own work. Overall, this course is a must for anyone looking to deepen their understanding of KPIs and enhance their ability to track and manage performance effectively. I highly recommend it!
This course met its stated objectives and provided relevant useful information.
Very basic accounting 101 course, recommended for people looking to learn about basic debits and credits
happy to pass the exam at one time, Great and thanks you.
Great course - material is easy to follow with good examples and descriptions.
Good course. Very informative and easy to apply!
Great tools for to use for a bookkeeper. Overall good course.
Extremely thorough presentation encompassed in the gradual addition of detail to each slide.
Pivot tables offer the advantage of quickly summarizing and analyzing large datasets, enabling users to easily visualize trends, patterns, and relationships within the data.
I Like the course because I heard the Sox but never work with it. I had some idea what is about but the course give me the all picture of the tool.
Good advice and steps to consider. The slides were nicely laid out to use as references in the future.
This course was a good refresher. This course is ideal for people not as familiar with accounting. Thank you.
good course on financial statement analysis and will help most practitioners
Concise review of journals, ledgers and GL. Good use of examples. The PDFs are extremely helpful as I listened to the recording.
It was a lot of good information that I was unaware of due to overwhelming work schedules these past few years since inception of TIGTA. The review and test were a bit confusing.. especially since some of the answers were not the same as an IRS.GOV site, so where to locate? Either way, the course and information was quite informative.
Excellent course on some basics of Strategic Management. Nice intro for newcomers in the workforce who have not grasped the importance of strategic placement in the market.
Excellent course, very well organized and presented, with practical examples provided.
very insightful esp for someone who deals with xPA deals
Excellent course for anyway that want to improve or develop a leadership role.
Very detailed course with many real world examples.
i think the course is a great introduction to financial reporting. very heplfu.
I like the overarching subject matter of the course and especially the sections on SWOT
Nice overall presentation, there were a few things which seemed to conflict others. Helpful in getting an overall understanding of the financial statements and how they interact.
This is a really good informative course--thanks for putting it together.
Good material and overview of SAAS metrics. Sound was a little low could be increased but otherwise good
This was a lot of information to retain while reading. Definitely prefer the video classes.
Excellent speaker who is clear, concise, and gave relevant examples that supplemented the course theories.
The instructor provided very helpful information. He is very clear and easy to follow. The samples are practical.
Great way to ground myself in the basics and refresh/sharpen my skills.
This course was a bit difficult due to lack of previous knowledge and reading through the course materials instead of instructed lead. Overall, the course was very educational.
very dull energy made me want to go to sleep. Not like other courses or instructors.
I like this topic and the instructor did a good job with real life examples which I appreciated.
Excellent course. So much detail and is good reference material to have available.
I appreciated the presenter's focus on materiality.
Instructor really explains thoroughly & provides wonderful & helpful supporting documents & materials for afterwards. It still takes me forever to complete, but it is a well planned out & conducted online learning video.
A good course and easy to understand, organizations should focus on continous improvement.
Overall helpful in understanding the differences between profit and not for profit. It got a bit confusing because the examples titles sometime did not match the explanations.
This was the best ethics course I have taken. I really liked the case studies.
Thank you so much for this amazing course where I had the opportunity to learn so many interesting things that I will be able to apply in my daily routine.
Great course. Very easy to follow. Great examples from the professor.
Clear and Concise course. Learned a lot about analyzing data.
I enjoyed Analyzing Financial Statements (263) 4.6654 486 Enrolled2 Hours (On-Dem
Great job reminding us that the financials are only the first step...i don't use ratios as i should. printed out the slides to remind me.
Would prefer handouts that are an outline of what is discussed, rather than blank pages to take notes.
I enjoyed this course as it discusses the importance and use of data analytics as it is the future of auditing.
I am a financial controller from a SAAS company. this course helps me get understand our industry benchmark index.
I appreciate all of the practice. Lot's of problems help to develop proficiency at speed.
A video presentation would have been helpful to augment the paper.
Good review and examples. I suggest a few more exercises like at the end.
High level overview which is good, but I would appreciate accounting courses that were more detail. Illumeo appears to be lacking in government accounting courses.
Great review of the financial statements for CPE credit. Great professor and lesson.
Boring topic, but well presented by the author. Lease topics are not generally exciting
I dislike the questions about the different versions of Excel. I don't think this is relevant to the learning objective.
Great course! The real world examples helped me better understand the topics covered.
Great basic course to provide a basic understanding of business combinations under topic 805. Would be better if it was not a text based course but an instructor led program.
Course was a great review of basic accounting. It was a refresher course
Questions were not specific, nor was some of the info touched upon within the presentation. Did not mention in what order were the statements finalized, nor did the first question about expenses have good rationale for the answers.
helpful additional materials for reference like slides, practice problems, etc
Good layout to introduce the concept, but would prefer more examples and visuals.
Great instructor. The real life examples are simple and easy to understand.
Excellent! To the point, great examples, & entertaining.
The course overall is great! You even walk away with a few useful macros and definitely a better understanding of how to apply VBA to your everyday life.
An important aspect that companies forget to look at because cyber attacks are seldomly experienced by them. Great refresher on how to react to cyber attacks
Interesting tips but unrelated in application of what they do.
good course for refreshers on daily task I no longer do.
Good and thorough course on accounting, it is a very good basic accounting class and was hoping for more technical that was there.
I wish the examples on the slides were a little more clear.
Very well spoken and concise summary of the major updates
Course met all expectations and was easy to follow
After having been away from auditing for many years, this was an excellent refresher course.
I like this course because I work for a Non-for-profit organization. It is helpful to understand the basics of tax exempt application and filling requirement.
Another excellent course by Jeff Lenning. So many helpful functions and tips. I just hope I can remember them all. I would have like to seen more examples.
This was well detailed while providing very efficient timely lessons of the general topic.
Great refresher on basic accounting topics. The materials were easy to follow, and navigate.
It was an amazing experience. Many thanks for your efforts.
This course is outdated, based on 2016 tax law. It is completely irrelevant in 2018/2019. It needs to be updated.
Good insight in personalities and leadership. Excellent explanations of human behavior
would have loved more examples especially on how fair value assessment.
One of the best explanations of the the cash flow statement that I have seen--his logic helps me better understand the cash flow statement from an intuitive perspective. Also, I didn't really like the floating box around the text. The workbook PDF also should be in a PDF form, Excel or something that I wouldn't need to print out to complete.
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Great course for beginners. The professor is upbeat and explains the processes.
The course layout was logical and easy to follow. The teacher was clear and concise and had useful examples.
Not terribly relevant now that Excel 2016 is available.
good overview, however was looking for specific examples with mathematical calculations
If I could have given 6 stars, it mightn't have been enough. He provided a very practical roadway to finance excellence. Great enthusiastic and knowledgeable presenter.
The text in the spreadsheet was too small to follow the instructor on a 17 inch monitor
Very nice power point presentation
Great class, wish you would slow down on showing where some of the functions live.
Gives great examples
Was good to be able to recap
Some more error rectification technique may be included in this course.
Very good course explaining the cultural differences between generations.
very good
A very interesting topic, another one they don't teach you in school.
Great Course!
It's an interesting subject especially for young professionals. The exam was quite a challenge.
Awesome information.
A lot of information and a step by step instruction. Very useful for anyone who has use for pivot tables.
Good job. Thanks!
Good information. Would like to have more detail on slides so that can use later when setting up spreadsheets.
liked the convenience; it was good information
Very good. However, seemed a little off track at times.
I worked as an accounting professor for a few years and had a similar style to teaching. It is extremely effective. Nice review sir.
good review material
interesting info
The videos have too much screenshots that make my eyes confused where to look at to.
Very helpful.
Some really great time saving tips, but some of the screenshots were a little busy.
Really helped to understand accrual based accounting.
Very good material but prerequisite requirements should be higher.
Excellent Course!!
Would be nice to review any answers that were not correct on the exam the same as the quiz. If you get one wrong you are unable to go back in to see which one.
This is very informative and I come away with information that I can put in use. However, this course runs for 79 minutes and should be given more credit hours should be alloted to it.
l like learn about this course and subject We will follow full courses for an intense love thank you very much
This course is worth checking out. Like most Excel programs, it covers some items that should have been learned through regular use but is lso shows some new approaches.
Very helpful review for intermediate user!
Excellent course. My favorite thus far.
Thanks for the nice course The final test does not really give a picture on how well you learned during the course I think that the solutions should be provided after the test is passed
Great course for a beginner level accountant.
This is a great synopsis of the IPO process, including the key regulatory considerations and planning elements. I highly recommend this course.
This course was a great review as I haven't worked with these statements in a while
Good amimated speaker.
very usefull.Thank you !
Well presented and logical.
Ask the instructor a question about this lesson