The basics of financial statements


This online course will help you understand key financial terms and what they all mean when presented together on a statement.

More Information
About this course

Used by you and the taxman, financial statements are hugely important to understanding the health of your business. However, this information can be confusing or daunting if you don’t understand what you’re looking at.

This course will position you to better understand the key terms and tackle financial data with confidence.

Length of study 30 minutes
Formats Audio, Drag and drop, Multiple response, Show-me guides, Video
Technical specifications This course works best on a laptop or desktop computer. Once downloaded, it can be completed online or offline. To play videos we recommend modern browsers for an optimal experience.

This course covers:

  • Five categories of accounts
    • assets.
    • liabilities.
    • expenses.
    • revenue.
    • capital/equity.
  • The accounting equation
  • The elements of financial statements
    • current and non-current assets and liabilities.
    • capitalisation threshold.
    • capital/equity.
  • Calculating profits
    • including accruals concept.
  • Layouts of financial statements
What you'll achieve

When you’ve completed the course, you’ll understand:

  • the terms capital, equity, assets, liabilities, income and expenses.
  • how these terms link to the transactions of the business.
  • how this financial data comes together to calculate your profits.
Who it's for

This course is perfect if you're:

  • running your own business and looking to improve your financial acumen.
  • in a non-financial role but want to better understand and interrogate financial statements.
  • looking to upskill by bolstering your basic finance skills.
How to access

The basics of financial statements is a 30-minute session including video tutorials and interactive learning to test your knowledge as you learn. You can purchase this course on its own or discounted as part of the AAT Business Finance Basics bundle.

Once purchased you will be able to access the AAT Learning Portal where you'll have 12 months from the date you access the learning materials. AAT Learning Portal allows you to view all the courses you’ve purchased in one place, monitor your latest training activity and create goals to help you achieve your training aims. 

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