Financial Statements (including Income, Cash Flow, and Balance Sheet) are formal records of the financial activities of an organization. Funders/investors are interested in analyzing the financial statements of an organization to determine whether it has the financial stability to remain a going concern before doling out cash, grants and loans. At the end of the fiscal year, the organization's annual report is an objective display of figures and data that explain the spending, earnings, assets and liabilities of a company over a year's period.
At the conclusion of the module, participants will be able to:
- Describe the elements of financial statements (Income, Cash Flow, and Balance Sheet) and how they can be interpreted.
- Describe the purpose of the four major accounting departments: accounts receivable, accounts payable, financial reporting and cash management.
- Point out the contents of an Annual Repor