CEO - Chief Education Officer
About the Instructor
My name is Mike Fletcher. I’m a trainer, author, entrepreneur, accountant, consultant and a proponent of the Triple Bottom Line. I’m also the CEO of HighSpin Consulting Inc. A bit of a maverick, I’m a CPA/CGA with 35 years of consulting experience in all sorts of organizations, profit/non-profit and both private/public sectors, nationally and internationally.
My passion is financial literacy. I support owners and managers of SMEs to maximize the value of their business by familiarizing them with the world of numbers. I focus on business financial literacy but that naturally overflows into the area of personal financial literacy too.
I speak at live events and seminars and provide one-on-one executive coaching as well. I also produce information products delivered over the Internet.
This course provides a detailed explanation of what the balance sheet is, its place in the range of financial reports and its individual components. After a refresher as to how the financial statements are accumulated within the accounting system, I will then go through the standard package of financial statements that you might get from your accountant or accounting department and the balace sheet's place in it. After an overview of the concept of the balance sheet, I will take you through the individual accounts one by one you in detail explaining not only what they are and how they work but also how to best manage them.
This course is designed to provide you with a better understanding of the role the balance sheet plays and the areas that you should pay attention to. This course is best viewed in conjunction with the courses on the Income statement and the cash flow statement provided in other HighSpin courses, as they all work together.
Who would benefit from taking this course:
Managers, entrepreneurs, executives, directors, everyone else who wants to become more financially literate.
17 detailed lessons. Over 4 hours of content!
In this course you will learn:
- What the balance sheet ignores in human and environmental costs
- What the balance sheet represents and where it sits in the overall package of financial statements
- How debt can serve you, and when it can work against you
- How money can get stuck in receivables and how to free up your cash faster
- To be clear on the purpose of inventory and how to maximize its effectiveness and minimize its cost
- Why accounts receivable may be mislabelled by being called an asset
- Why depreciation is a matter of opinion and how that can affect your profit line
- What the equity portion of the balance sheet represents
- That Accounts Payable represent more than money owed to suppliers
- Why having too much cash may not be a good idea and is not good management
- What bills you have to pay first and why they won’t go away even in bankruptcy
- The advantages and pitfalls of long-term debt
- About the basics of accounting written in plain language that you can understand.
Lessons with practical learning experience with lots of examples.