Week 2 Financial Statements Preparation

Week 2: Financial statements: PreparationFinancial statements provide valuable insight into information that happened during a particular time in an organisation.The income statement, statement of financial position and statement of cash flows provide key information to help analyse the overall financial health of the organisation.The focus of this week is to provide an overview of the necessary financial statements rather than a deep financial understanding of an organisation’s financial position. This week’s resources include a discussion of the links between financial statements and how they can be used as an important decision-making tool.Learning ObjectivesBy the end of this week, you will:Upon completion of this week, students will have achieved the following objectives:Critically evaluate simple financial statements, including statements of cash flows, plus articulate the importance of each to the effective management of resourcesCritically appraise the role of cash flow forecasts, plus articulate the importance of business plans and financial forecasts in managing resourcesThis week you will complete the following items:Read the Required Learning Resources for Week 2.Submit the Key Concept Exercise Parts A and B to Turnitin.Submit the Key Concept Exercise Part B to the Collaboration Forum.Complete your Collaboration and post 3–5 replies to your classmates in the