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.