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    How To Read Financial Statements: Build Financial Literacy.

    Posted By: ELK1nG
    How To Read Financial Statements: Build Financial Literacy.

    How To Read Financial Statements: Build Financial Literacy.
    Last updated 12/2020
    MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz
    Language: English | Size: 414.06 MB | Duration: 2h 20m

    Read financial statements and speak the language of business without the drudgery of a traditional accounting course

    What you'll learn
    Explain how the balance sheet, income statement, and statement of cash flows are used, what they measure, and why we need three statements.
    Differentiate between income and cash flow
    Explain what is the balance sheet equation and why the balance sheet equation is the foundational model for accrual accounting/double entry accounting
    Define what are assets, liabilities, and equity and how assets, liabilities, and equity relate
    Explain how the statement of cash flows and income statement link into the balance sheet
    Explain how accounts work like buckets
    Locate a real company’s annual report at their website and locate their financial statements within the annual report
    Explain who are the six most important stakeholders of a corporation (employees, customers, government, vendors, lenders, investors)
    Explain the give and take of a transaction and how to record both sides of the transaction separately with the six stakeholders
    Explain which side of the give and take appears on the income statement and on the statement of cash flows
    Explain why you can’t measure profit with cash and why you need to use accrual accounting (double-entry accounting), not cash accounting
    Illustrate how accrual accounting can both record cash and profits using a spreadsheet
    Explain the basis for bookkeeping and basic accounting without learning bookkeeping
    Explain what each line item of the balance sheet means and distinguish between current and noncurrent assets, liabilities, and shareholders’ equity
    Explain what each line item of the income statement means, including revenues, expenses, and earnings per share
    Explain each important line item for the three sections of the statement of cash flows: operating activities, investing activities, and financing activities
    Explain how the format of the operating activities section differs from the other two activities (investing and financing)
    Test your knowledge by completing 28 multiple-choice questions about the 2013 Facebook annual report
    Explain four areas that can go wrong in a business (sales pricing, expense control, asset management, and asset financing)
    Explain how four ratios (return on equity, profit margin, asset turnover, and financial leverage) can detect problems within the four potential problem areas
    Compute return on equity, profit margin, asset turnover, and financial leverage ratios from real company’s financial statements
    For the return on equity ratio, drill down into its three component ratios (profit margin, asset turnover, and financial leverage) to pinpoint problem areas
    Start with the profit margin ratio and drill down to compute the gross profit percentage and expense percentage from a real company’s financial statements
    Locate management’s explanation for year-to-year changes in ratios from the company’s annual report
    Summarize the key reasons for return on equity variations for a real company from year-to-year
    Explain how four industries (distribution, manufacturing, service, and financial services differ in the way they make money
    Explain how the profit margin, asset turnover, and financial leverage ratios can reveal the key differences in the way that four industries make money
    Requirements
    There are no prerequisites for the course. You do not need to know anything about accounting or finance
    Description
    "The number one problem in today's generation and economy is the lack of financial literacy" - Alan Greenspan, Chairman of the U. S. Federal Reserve 1987 to 2006 If you are in business, you need to speak the language. No matter if you’re in sales, marketing, manufacturing, purchasing, accounting, or finance, you need to speak the language of business. Perhaps you own a small business or are an entrepreneur starting a business… or you need a better job and are thinking about going to business school… or you provide legal and consulting services to businesses. You’ll be more credible, make better decisions, and enjoy more success if you speak the language of business. The Importance of Financial Statements in Today’s World The language of business is encapsulated in financial statements. Financial statements provide a scorecard for how a business is doing. Over a series of years, it provides a map of the business’s performance. Managers judge the success of their business with financial statements. Investors make intelligent investing decisions with financial statements. In addition, people in the business world are being held more accountable for their financial statement practices since Enron and WorldCom. They need to know what goes into financial statements. Learn to Read Financial Statements, Not Prepare Them. Just as you don’t need to understand how to make a car in order to drive one, you don’t have to understand bookkeeping to read financial statements. I've prepared a course that eliminates the bookkeeping drudgery and concentrates on the end product of accounting, how to read financial statements, not how to prepare them. Like climbing a spiral staircase, I will teach you how to read three real company’s financial statements (Whole Foods, Sherwin Williams, and Facebook), starting with the simple and progressing to the complex, interspersing the statements with key accounting terms and concepts to help you build expertise. Sounds good? Here is exactly what we will cover: Read Financial Statements. What is a balance sheet, income statement and statement of cash flows and how each is different Quick Look: Read Financial Statements of Whole Foods. What are the major line items on Whole Foods’ balance sheet, income statement and statement of cash flows Where the numbers come from: Accrual Accounting Basics. What are some basic accounting concepts, why we can’t measure profits with cash, and why we need a separate statement for income and cash flow Deep Dive: Read Financial Statements of Sherwin Williams. What each line item means on Sherwin Williams’ balance sheet, income statement and statement of cash flows Test What you have learned: Facebook Case Study. A 28-question quiz about Facebook’s balance sheet, income statement and statement of cash flows with feedback What the Financial Statements Tell You Through Ratios. How to interpret a company’s performance with four ratios: return on equity, profit margin, asset turnover, and financial leverage. How to compute these ratios for Sherwin Williams and dig into their annual report for insight. How to compare financial statements among four different industries (distribution, manufacturing, service, and financial service) The course contains 20 three-to-eight-minute-videos each followed by a multiple-choice quiz. A case is provided for Facebook. The course will take 100 minutes to view the videos and another 45 minutes to take the quizzes and do the Facebook case. Are you ready? Let's do this.

    Overview

    Section 1: Read Basic Financial Statements

    Lecture 1 Welcome to the class. Introduction

    Lecture 2 What Are Financial Statements

    Lecture 3 The Balance Sheet Equation

    Lecture 4 How Do Financial Statements Relate?

    Section 2: Quick Look: Read Financial Statements of Whole Foods

    Lecture 5 Whole Foods Balance Sheet

    Lecture 6 Whole Foods Statement of Operations

    Lecture 7 Whole Foods Statement of Cash Flows

    Section 3: Where the numbers come from: Accrual Accounting Basics

    Lecture 8 Accrual Accounting Basics

    Lecture 9 Can't Measure Profit With Cash

    Lecture 10 How Accrual Accounting Measures Both Cash and Profit

    Section 4: Deep Dive: Read Financial Statements of Sherwin Williams

    Lecture 11 Sherwin Williams Balance Sheet

    Lecture 12 Sherwin Williams Statement of Operations

    Lecture 13 Sherwin Williams Statement of Cash Flows

    Section 5: Test What you have learned: Facebook Case Study

    Lecture 14 Case Study: Facebook

    Section 6: What the Financial Statements Tell You Through Ratios

    Lecture 15 Introduction to Key Ratios

    Lecture 16 Compute Sherwin Williams' Return on Equity

    Lecture 17 Compute Sherwin Williams' Profit Margin

    Lecture 18 Compute Sherwin Williams' Asset Turnover

    Lecture 19 Compute Sherwin Williams' Financial Leverage

    Lecture 20 Compare Key Ratios Among Companies

    Section 7: Section 7 Update of Financial Statements and Ratios from 2013 to 2019

    Lecture 21 Introduction to New Update Module

    Lecture 22 Update Sherwin-Williams Financial Statements 2013 to 2019

    Lecture 23 Update Facebook Financial Statements 2013 to 2019

    Lecture 24 Update Whole Foods Financial Statements 2013 to 2017

    Lecture 25 Ratio Comparison of Three Companies 2013 to 2019

    Lecture 26 Stock Performance 2013 to 2019

    Lecture 27 Bonus Lecture

    Business students who want a big picture view of accounting by understanding the end product, financial statements, not how the end product is created through bookkeeping,Managers who want to read and understand financial statements without learning bookkeeping,Investors who want to read and understand annual reports and 10Ks,Non-accounting/finance employees in companies who want to determine how their company is doing without taking an accounting course,Accounting/finance majors should not take the course