Understanding And Analyzing Financial Statements
When : Monday, September 20, 2021
Time : 01 : 00 PM EST
Duration : 75 Minutes
Carl Young is an Author, Speaker, Trainer, Consultant, and Coach. He holds an MBA and completed graduate studies in Accounting and Taxation. He is a former CFO of a 275M, high-growth technology-based company. He has over 25 years of senior-level business management experience. In addition, he has over 25 years of training experience in finance, accounting, and business management. Former CEO of his own small parts manufacturing company as well as former Senior Financial Associate of a major consulting firm.
Carl is a member of the following organizations: American Society of Corporate Controllers, Council of Experts (investment firm Gersen & Lehrman), Society of Industry Leaders (sponsored by Standard & Poors), and the National Association of Accountants.
An engaging and entertaining speaker and trainer who draws from his experience as a former CFO to make relevant teaching points. Sessions are rich in content, lively, full of energy and include plenty of audience interaction. He has branded himself as Mr. Simplicity! His goal is to make finance and accounting relevant to non-financial professionals using tools and techniques that are simple to understand and apply.
All non-financial professionals are challenged in today’s business environment to manage and ensure the full and efficient utilization of limited resources to improve profits and productivity and achieve overall business success. This requires a foundation for the understanding & analysis of financial statements.
Financial transactions of a business are transformed through an accounting process to three key and required financial statements, they are:
- Balance Sheet which shows what the company owns minus what it owes and the resulting financial strength of the company
- Income Statement which indicates the comparison of revenue earned from providing goods and services less the costs or expenses used to provide the goods and services. This resulting comparison is called profit or surplus
- Cash Flow Statement which indicates the company’s sources and uses of funds
The ability to understand and analyze financial statements is key and relevant to making sound business decisions. One essential key is the understanding of the different terms, tools, and techniques used in the process of preparing these statements. Non-financial professionals find this a conflicting challenge and need a simple framework for understanding & analyzing these statements.
- The basic framework used in the preparation of financial statements
- The basic components of each statement and their use in business decisions and resource management
- A simple understanding of finance & accounting
- A simple understanding of:
o Cash vs. accrual basis accounting
o Accounting concepts and building blocks
o Core components of financial statements
o Analyzing financial statements as the language of business
- Simple financial statement terminology
- Simple signs of business financial healthy
- Financial statement red flags, cautions, and concerns
- Relevant ratios to improve profits and productivity with attendee exercises and engagement
- The essence of ratios, trends, comparisons, and cash in all business analysis and decisions
- Review of five essential categories of ratios to measure the impact of:
- Essential essence and utilization of:
o Working Capital
o Cash Management
o Free Cash Flow
Overall you will learn in a simple to understand and apply tools and techniques on how to understand and analyze financial statements. I guarantee it!
- Basic components and understanding of three required & essential financial statements
- How transactions are transformed into financial statements
- Financial statement terminology
- Positive signs of financial health
- Negative signs “red flags”
- Essential ratios to explain reasons for financial results
- Using financial statements to make key business decisions
Course Level - Intermediate
Who Should Attend
- Business Owners & Entrepreneurs
- Business Managers
- Resource Manages
- Sales Personnel
- Operations Managers
- Finance Associates & Managers
- VPs of Finance & Operations
- All Non-Financial Professionals responsible for managing resources
All Industries including Financial & Non-Financial personnel with the challenge of interpreting financial statements and using the results to make business decisions using financial statements. The primary challenge is to convert the Results indicated on financial statements to the Reasons that allow stakeholders to make sense of financial statements by understanding and applying Ratios that are commonly accepted to be key indicators of business & financial success.