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Reading & Understanding Financial Statements

Thursday May 28, 2020 to Friday May 29, 2020
9:00am to 4:00pm

This is an Aurora College, Yellowknife Campus workshop.  For information/registration please contact Karen Horn at (867) 920-8802 or email

This 2-day workshop will cover a brief review of the basics including the five types of accounts (Assets, Liabilities, Equities, Revenue & Expense); Debits & Credits and some of the Generally Accepted Accounting Principles that help to explain the theory behind some of the accounts in financial statements.  Students will learn how to read, interpret and analyze financial statements for both for-profit and non-profit organizations.

Bookkeeping Basics

  • Assets
  • Liabilities
  • Equity
  • Revenue/Income
  • Expense
  • Debits & Credits
  • GAAP

Financial Statements

  • Balance Sheet
  • Income Statement (Profit & Loss Statement)
  • Statement of Cash Flows

Interpreting Your Financial Statements

  • Comparison to Previous Years
  • What do the numbers mean?
  • Using Standard Ratios

Practical Application

  • Retail Business Statements
  • Service Business Statements
  • Non-Profit Organization Statements

External Course Promotion

Aurora College