Course Description

How do I know if I am right? This is a common question among accountants after they get done closing out the month. Even after the last journal entry is entered, what may not be apparent is how the financial statements fit together. In this course, we will be exploring basic financial statement information, including what each statement shows and how this information feeds into the other statements. We will also explore concepts like materiality and basic ways to know if everything is tying out, so you and your clients can rest assured that everything is correct!

Learning Objectives

  • Recognize the 4 basic financial statements and how they fit together.

  • State the different sections of the Statement of Cash Flows and the components of each section.

  • Identify the signs of poor earnings quality.

Additional Required Materials

  • Course Level: Overview

  • Field of Study: Accounting (NASBA)

  • Who Should Attend: Small business owners or practitioners who are new to the industry, or are looking to deepen their knowledge of financial statements.

  • Required Knowledge: None

  • Advanced Prep: None

Instructor

CPA, CPCU, MST, MBA David Peters

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA. He has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, and ethics throughout the United States. He holds four Masters degrees and contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.