Overview

Regardless of your role within an organisation, it’s important that you understand how well it’s performing on an economic level. This course explores the basic elements of an organisation’s accounts, including how its trading activity is recorded on the profit and loss statement, how those figures are then adjusted to reflect the amount of cash generated in the cash flow statement and how the final numbers appear on the balance sheet. Finally, you will learn about the importance of budgeting and different methods of forecasting.

Objectives

By the end of this pathway, you will be able to:

• Define the uses of each of the three financial statements
• Calculate the most useful figures using these statements
• Recall how, and why, organisations budget