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Understanding Financial Statements

Stella XU, Martyn Clayden, and Michele C

Most FutureLearn courses run multiple times. Every run of a course has a set start date but you can join it and work through it after it starts. Find out more This course would suit anyone looking for additional basic accounting skills. These are skills that can help you make better decisions and advance in your career. It may be of particular interest to people in senior management and leadership roles, who lack an accounting background.

Topics Covered

Introduction to accounting and its branches
Identifying different users of accounting information and their requirements
Overview of financial statements
Introduction to income statement
Introduction to statement of financial position
Introduction to cash flow statement

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Reviews summary

Foundational financial statements for professionals

According to learners, this course is an excellent and clear introduction to financial statements, proving particularly beneficial for those with no prior accounting background or in senior management roles. Students consistently highlight the instructor's ability to break down complex concepts into manageable pieces, making the material easy to follow and the teaching style engaging. It successfully builds a solid foundational understanding of income statements, balance sheets, and cash flow. However, a segment of learners found the course too basic or lacking in analytical depth for those with some prior knowledge, wishing for more advanced application or real-world case studies.

Instructor's teaching style is highly effective and knowledgeable.

"The instructor's teaching style is very engaging."

"The instructor explains things well."

"The instructor is knowledgeable. The material is presented clearly."

Provides practical, essential financial literacy for professionals.

"Good overview, especially for managers who need to understand financial reports without becoming accountants."

"Very useful for getting a grasp of the basics. I particularly liked the module on identifying different users..."

"I'm a small business owner and needed to understand my books better. This course was perfect. It demystified what seemed like complex documents."

"I feel much more confident now in my ability to interpret financial reports for my job."

Explains complex financial concepts simply and effectively.

"This course provides an excellent and clear introduction to financial statements. As someone with no prior accounting background, I found the explanations... incredibly easy to follow."

"The instructor broke down complex concepts into manageable, bite-sized pieces. Highly recommend for beginners!"

"Fantastic course! The content is delivered very clearly and concisely. I finally feel confident looking at a company's financials."

"Excellent and well-structured course... this course made it so simple. The examples were very relevant."

Reviewers desired more hands-on practice or real-world scenarios.

"Some parts felt a bit rushed, especially the cash flow statement, but overall a solid foundation. It's a great starting point, but you'll need more in-depth study for advanced analysis."

"I expected more real-world case studies. It was a bit too dry for my taste."

"Would suggest they add a section on common pitfalls or red flags in financial statements for a practical edge."

"I wish there were more interactive elements or case studies instead of just lectures."

Course depth is insufficient for those with prior finance knowledge.

"The course is okay for an absolute beginner, but for someone with even a little bit of finance knowledge, it's too basic."

"I was hoping for more depth in the analysis of financial statements rather than just an introduction. The pace was a bit slow for me."

"Found some of the explanations repetitive and a bit superficial. I expected more real-world case studies."

"For advanced learners, it might feel a bit slow, but it serves its purpose for foundational understanding."

Career center

Learners who complete Understanding Financial Statements will develop knowledge and skills that may be useful to these careers:

Reading list

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Understanding Financial Statements

Topics Covered

Topics Covered

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Reviews summary

Foundational financial statements for professionals

Career center

Reading list

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