Explore and understand the sources of information required to verify all amounts and values on personal financial statements;
Explore the difficulties in assessing the cash liquidation value of specific personal assets;
Examine the critical role income tax returns can play in verifying personal financial statement information and explore the information content of Form 1040 and selected supporting schedules;
Identify the amount of cash available to a guarantor over various time horizons in support of business debt service;
Examine the implicit approach to building personal wealth suggested by personal financial statements; and
Identify the similarities and differences between personal and business financial statements.
Course
Materials
Note on Understanding
and Using Personal Financial
Statements in Assessing
Risk
Financial Statements for
Sandover Contractors,
Inc.
Personal Income Tax Returns
for Douglas McPherson
Financial Statements for
Information Access, Inc.
Personal Income Tax Returns
for Peter Keys
Written Exercise Set
Online Review Quizzes
Written and Audio Solution Set
Online Credit Skills Proficiency Exam
Upon
Completion
Participants who successfully complete the workshop, including completion of all review quizzes and the final proficiency exam, will be able to:
Understand the sources of information required to verify all amounts and values on personal financial statements;
Understand
the issues and difficulties
in assessing cash liquidation
values of specific assets;
Understand
the role income tax returns
can play in verifying
personal financial statement
information and the information
content of Form 1040 and
selected supporting schedules;
Calculate
the amount of cash available
to a guarantor over various
time horizons in support
of business debt service;
Determine
the implicit approach
to building personal wealth
suggested by personal
financial statements;
and
Understand and assess the similarities and differences between personal and business financial statements.
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