Introduction to Financial Statements

Financial statements can be complicated, and the Secretariat's mission is to help you face them with more confidence. Join us as we hear from Secretariat on their run down of the key concepts of financial statements.

This session will help attendees become more comfortable with “the numbers” so you know what to look for when you come across them as part of a transaction or litigation matter.

During this session, we will explore:

• The building blocks of financial statements – What assets, liabilities, and equities are and why they’re important.

• The standards that financial statements adhere to and why that matters.

• The process of preparing financial statements and why your financial professionals are always asking for the “general ledger” and “trial balance”.

• The difference between an audit, review, and compilation engagement, why they exist, and how that affects you.

• How to navigate the various sections of a set of financial statements and what to keep an eye out for.

• Various Case Studies – specific analyses performed dependent on the engagement mandate.