Course curriculum

  • 01

    Presentations - Money Management, Financial Statements, & Budgets

    • 2010 Personal Money Management Overview

    • 2020 Personal Financial Statements Overview

    • 2030 Personal Financial Statements & Bookkeeping Tools

    • 2040 Personal Balance Sheet Creation

    • 2045 Create Personal Income Statement

    • 2050 Create a Personal Budget Overview

    • 2055 Common Personal Finance Ratios

    • 2060 Budget Example & Recommended Category Percentages
  • 02

    Practice Probs. - Money Management, Financial Statements, & Budgets

    • OneNote Resource

    • 2110 Balance Sheet Accounts & Accounting Equation

    • 2120 Balance Sheet Accounts & Accounting Equation Prob. 2

    • 2130 Personal Financial Statements part 1

    • 2131 Personal Financial Statements Part 2 Income Statement

    • 2140 Accounting Equation

    • 2150 Debt Ratio, Current Ratio, & Other Common Ratios

    • 2190 Flexible Personal Budget

    • 2200 Budget vs Actual Performance

    • 2300 Financial Statement & Budget Part 1 Balance Sheet

    • 2301 Financial Statement & Budget Part 2 Income Statement

    • 2302 Financial Statement & Budget Part 3 Budget vs Actual

    • 2400 Budget for 12 Months
  • 03

    Excel Probs. - Money Management, Financial Statements, & Budgets

    • 2110 Balance Sheet Accounts & Accounting Equation

    • 2120 Balance Sheet Accounts & Accounting Equation Prob. 2

    • 2130 Personal Financial Statements Part 1

    • 2131 Personal Financial Statements Part 2 Income Statement

    • 2140 Accounting Equation

    • 2150 Debt Ratio, Current Ratio, & Other Common Ratios

    • 2190 Flexible Personal Budget

    • 2200 Budget vs Actual Analysis

    • 2300 Financial Statement & Budget Part 1 Balance Sheet

    • 2301 Financial Statement & Budget Part 2 Income Statement

    • 2302 Financial Statement & Budget Part 3 Budget vs Actual

    • 2400 Budget for 12 Months

    • 2500 Excel Budget Templates

Description

This course will focus on personal financial statements, a fundamental tool for personal financial planning.

We will include many example problems, both in the format of presentations and Excel worksheet problems. The Excel worksheet presentations will include a downloadable Excel workbook with at least two tabs, one with the answer, the second with a preformatted worksheet that can be completed in a step-by-step process along with the instructional videos.

Financial statements are the core tool we used to measure our current financial position as well as our past performance. The balance sheet and income statement are our major financial statements.

The balance sheet shows us where we stand as of a point in time. The income statement looks back for a period of time, usually a month or year, to measure performance, discerning how we got to this current position represented by the balance sheet.

Personal financial statements are similar to business financial statements but are less standardized. Personal financial statements are less standardized in part because there are fewer formal regulations restricting them and because our financial goals are different.

The primary financial goal for a business is revenue generation. However, our personal financial goals will include, but not be limited to, revenue generation, the revenue being a means to an end rather than an end in and of itself.

Learners will know how to construct financial statements and how the balance sheet and income statement are related.

Once we have our financial statements, which map out past performance and our current position, we can use them as a basis to look forward, creating a budget.

Learners well know how to construct a personal financial budget. We will also discuss common personal ratios used to measure performance.