Let’s Discuss: “Applying the Concepts”:Please give us one example from your research, work, or personal life of an application of the material we have covered during this module. Once you have read your fellow students’ postings please add comments where you relate your own similar experience or course material.Module 2
Working with Financial Statements
In Chapter 3, we will learn about the tools we apply to financial
statements to help us understand how a company runs. We will
learn how to look at financial statements and understand the
elements of each of the three major statements (income
statement, balance sheet and cash flow statement) and the
relationships within those statements.
Why do we need this information? Simple, financial statements
represent the language of business. We use these to communicate to government
agencies, investors and internally to other managers. Let’s learn the language of
More specifically, after studying this chapter you should be able to explain:

The basic types of ratios used in financial statement analysis (FSA)
The measures used by organizations to gage efficiency
The methodology of common-sizing statements and reading a financial
In Chapter 4, we learn what is financial planning in the corporate sense and which
models are used in managing the finances of a company. We will learn the answers to
these questions as well as how external financing leads to growth of a company. These
are the essential tools and missions of managers in a corporation and either as an
employee or an investor we all need to understand these items.
Chapter 4 helps us understand how to prepare and utilize pro forma statements, sales
forecasts, asset requirements, use economic assumptions and put these all together in
models to aid in managing a company or understanding if a company is managed
properly. We will understand what financial planning can accomplish in the business
More specifically, after studying this chapter you should be able to describe:

The mission of management in the financial planning process.
The tools at our disposal to plan and manage a company.

The manner in which budgets are developed for sales and asset needs
How to determine a firm’s cash flow from its financial statements.

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