Instructor for this course
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What do Board Members need to understand about financial statements and budgets to be able to perform their duties? Certainly such things as:

  • Recognizing what each of the three financial statements is trying to tell the reader.
  • Understanding how to review an operating budget.
  • Identifying the differences between when we record an expenditure as an asset on the balance sheet or an expense on the income statement.
  • Exploring the types of internal controls that can be used to safeguard assets.
  • Ten steps that can be used to review a set of financial statements

This course provides – in an easy to understand manner – the basic knowledge to make a director comfortable at the boardroom table when the financial statements and budgets are handed out. 

Learning Objectives

  • Recognize what each of the three financial statements is trying to tell the reader.
  • Discover how to review an operating budget.
  • Identify the differences between when we record an expenditure as an asset on the balance sheet or an expense on the income statement.
  • Explore the types of internal control that can be used to safeguard assets.
  • Discover the ten steps that can be used to review a set of financial statements. 

 

1 Review (11 ratings)Reviews

Member's Profile
This is a good entry level overview of financial statements.

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION and OVERVIEW
The Basics of Financial Statements
  7:11Overview of Financial Statements
  5:09Balance Sheet
  6:50Assets
  6:00Fixed Assets
  8:34Liabilities & Equity
  4:52Income Statements
  6:00Cash Flow Statements
Budgeting and Control
  6:18Budgeting
  8:04Internal Control
  5:0110 Steps to Reviewing Financial Statements
CONCLUSION
  0:59Course Summary
Continuous Play
SUPPORTING MATERIALS
  PDFSlides: Financial Literacy for Board Members
  PDFFinancial Literacy for Board Members Glossary/Index
REVIEW and TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM