Understanding Financial Statements for Board Members

What do board members need to understand about financial statements and budgets to be able to perform their duties?

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.

Includes:

• What each of the three financial statements is trying to tell the reader.
• How to review an operating budget.
• When we record an expenditure as an asset on the balance sheet versus an expense on the income statement.
• The types of internal controls that can be used to safeguard assets.
• The ten steps to reviewing a set of financial statements