Bookkeeping Basics - Financial Statements

Every tax preparer and accountant somewhere along the lines needs to have a fundamental basic understanding of bookkeeping in order to ensure they are using the correct numbers when preparing a tax return or otherwise presenting financial information to their client.  Financial Statements Learn the basics of financial statements through a basic overview Learn how the Chart of Accounts is set up to work seamlessly with Financial Statement reporting Understand the Income Statement (or P&L) and Balance Sheet in its construction and layout, and what information it presents Understand the Statement of Cash Flows and see the way it ties the other two financial statements together Discover how understanding financial statements can help in meeting overall financial goals as well as indicating where changes may need to be made