PARTNERS' NETWORK
How to Read a Financial Statement
Feb 22, 2021
“How to Read and Analyze a Financial Statement” is the topic of my next Take A Business Break program at the East Brunswick Public Library on this Thursday Feb. 25 at Noon. There is no charge and all attendees will receive a free copy of my MBA course handout with the same topic. You can buy it at Amazon.com if you don’t attend the program.
I will discuss briefly the seven elements of a financial statement and the statement of income and balance sheet in some easy to understand detail. Here is an early peak:
Seven Elements of a Financial Statement
- Report of independent accounting firm. Auditor’s opinion.
- Statement of income. Revenues and expenses during the period; the difference is the profit or loss.
- Balance sheet. What is owned and owed and difference is the net worth on a specific date.
- Statement of cash flows. All sources of cash in and out during the period.
- Comprehensive income. Items not shown on other statements that affect the net worth.
- Changes in owners’ equity. Changes in net worth during period.
- Notes to financial statements. Explanations of certain items reported on statements.
I put together a PowerPoint® presentation that will make the hour rush by. Anyone that wants to better understand financial statements should take this program. It is on Zoom and free. Here is the join link: Click Here to Join. You can also sign in on Zoom with Meeting ID 849-4794-7797 and Passcode 881488. You will like this program.
If you have any tax, business or financial issues you want to discuss please do not hesitate to contact me at emendlowitz@withum.com.
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