Understanding Your Financial Statements

The financial statements are the ultimate output based on the bookkeeping which is the input. It is really important for bookkeepers to have this in mind when entering transactions. If you can think in terms of where your transactions will go on the financial statements you will be much more effective at getting the results you want? What results do you want? Accurate and reliable financial information that you can use to make informed decisions about yours or your client’s business.

This course will give you a thorough understanding of each area of all three major financial statements;

  • The Profit and Loss
  • The Balance Sheet
  • The Statement of Cash Flows

You will also gain insights into how I review a client’s financial statements when I first take them on, and if they’ll let me I do this together with the client on a periodic (monthly or quarterly) basis.

A great tool for managing cash flow is CashFlowTool.com. Check it out!