Gain an understanding of annual accounts and the financial statements they contain.
If you want to improve your skills in understanding, analysing and using the annual accounts of your business, then our training course is ideal for you.
You'll look into financial statements your accountant uses, so that you can discuss and query any financial matters with your accountant more effectively.
Our 1-day training course will help you understand how to monitor your business' performance, look at income and expenditure, produce end of year accounts and work more effectively with your accountant.
You will learn how to analyse the financial health of your business and improve the financial management of your business.
When you have completed the course, you'll get a certificate of training.
- Overview of the role of an accountant
- Financial statements
- The profit and loss account
- The balance sheet
- Reviewing accounts
This is a stand-alone course within a financial management suite of courses. Therefore, if you interested in more than one course, the following order is recommended (but not mandatory):
- Financial Management 1: Bookkeeping, VAT and Making Tax Digital (MTD)
- Financial Management 2: Understanding Your Accounts and Financial Statements
This course is for you, if you want to improve your skills and knowledge around financial matters, especially if you are involved in a small business, such as sole traders or partnerships.
By the end of the course, you'll be able to:
understand the basics of the role of an accountant
describe financial terms common in financial statements
examine the make-up of profit and loss accounts and balance sheets
interpret cost of sales and overhead costs relevant to the business
use a profit and loss account to record income and costs
identify how to measure the profitability of a business
define liquidity, and calculate a current ratio
define and calculate net worth and equity-to-asset ratio
recognise trends within their business accounts
- Financial Management 1- Bookkeeping, VAT and Making Tax Digital (MTD)
- Managing Your Cash Flow
- Marketing Your Business