• Post category:StudyBullet-4
  • Reading time:6 mins read


What you will learn

How to read personal financial statements

How to create a personal balance sheet

How to create a personal income statement

List and understand how to use personal bookkeeping tools

How to create a personal budget

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.


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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.

English
language

Content

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

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

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