Reconciling accounts and examining financial statements

Overview

In the final course of this certificate, you will apply your skills towards financial statement analysis. If you have the foundational concepts of accounting under your belt, you are ready to put them into action in this course. Here, you will learn how to reconcile different types of accounts, check for accuracy, and troubleshoot errors. Additionally, you will practice how to apply different analytical methods to key financial statements and understand how these methods inform a variety of business decisions. By the end of this course, you will be able to: -Describe and illustrate the use of a bank reconciliation in controlling cash -Outline the purpose of financial statements in relationship to decision making -Describe basic financial statement analytical methods -Apply quantitative skills to analyze business health Courses 1-3 in the Intuit Bookkeeping Professional Certificate, or the equivalent, are recommended prerequisites for this course.

Syllabus

Financial analysis - The bookkeeper's role

This module explains the bookkeeper’s essential role in the financial analysis process. You will explore how accurate recordkeeping, reconciliation, and financial reporting support accountants and business owners in evaluating performance and making informed decisions.

What is reconciliation?

This module explains the reconciliation process and its importance in maintaining accurate and reliable financial records. You will explore how to compare internal records with external statements, identify discrepancies, and manage source documents effectively.

Reconciling accounts

This module guides learners through the process of reconciling various types of accounts and identifying common reconciliation errors. You will practice comparing records, resolving discrepancies, and correcting entries to ensure accurate and reliable financial reporting.

Examining financial statements

This module introduces the four key financial statements—balance sheet, income statement, statement of cash flows, and statement of equity—and how they work together to show a business’s financial health. You will practice analyzing and interpreting these statements to support informed decision-making.

Analyzing business performance

This module introduces key financial ratios and metrics used to assess a business’s liquidity, efficiency, solvency, and profitability. You will practice calculating and interpreting these ratios to evaluate performance, identify trends, and compare results against industry benchmarks.

Summary activity and exam: Reconciling accounts and examining financial statements

This module reinforces key concepts related to reconciliation and financial analysis. You will apply their knowledge of financial statements and ratios through practical activities that assess business liquidity, solvency, and profitability.