Introduction to Financial Statements

Overview

This course is for those who have a basic understanding of accounts but want to take a deeper dive and look at the primary financial statements in more detail. In this module you will look at the content and structure of the Profit & Loss account, the Balance Sheet and the Cashflow statement and the relationships between the financial statements. You will also look at other components of a published set of financial statements, including the Directors Report, Corporate Governance and Directors Remuneration

Learning outcomes

By completing this course, you will be able to:

• Identify the primary financial statements and the other items included in a set of financial statements
• Understand the accounting equation and apply its principles to the financial statements
• Understand the relationship between the primary financial statements
• Explain the content and structure of the Profit or Loss Account, Balance Sheet/Statement of Financial Position, Cash Flow Statement and Statement of Changes in Equity
• Explain the purpose of the notes to the financial statements and identify their uses
• Identify the other components of a published set of financial statements, including the Directors Report, Corporate Governance and Directors Remuneration"

Authored by: Gemma Rudrum

Gemma Rudrum qualified as a chartered accountant with Ernst & Young in 2004, working in their Assurance and Advisory team. She joined BPP in 2007 as a tutor teaching financial reporting and auditing subjects. She has also worked in our Learning Media team designing and developing content and is now our Head of Work Based Learning and runs our PGCert programme.    

CPD Points: 1

CPD Duration (hours): 1

Access: 12 months from purchase date