Identify the cash and non-cash amounts recorded on major supporting schedules and supplemental statements to Form 1040;
Identify the income and expense amounts used, and excluded, in income tax preparation and, therefore, available or absent for constructing the personal cash flow statement;
Conduct a step-by-step construction of the personal cash flow statement, using selected income tax return and personal financial statement information, to identify the amount of personal cash flow available to support business debt service;
Explore and assess the extent of the guarantor's personal cash flow dependence on cash sources from the business whose debt is supported by the guarantee;
Examine the benefits and limitations in the construction and use of the personal cash flow statement in assessing the value of a personal guarantee; and
Assess the relative roles of cash from personal assets and cash from personal cash flow in determining the value of a personal guarantee.
Course
Materials
Note on Constructing
and Using the Personal
Cash Flow Statement
in Assessing Risk
Personal Financial
Statements for Douglas
McPherson
Excerpts from Personal Income
Tax Returns for Douglas
McPherson
Personal Financial Statements
for Peter and Jennifer
Keys
Excerpts from Personal Income Tax Returns
for Peter and Jennifer
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 cash and non-cash amounts recorded on major supporting schedules and supplemental statements to Form 1040;
Understand the income and expense amounts used, and excluded, in income tax preparation and, therefore, available or absent for constructing the personal cash flow statement;
Properly construct a step-by-step personal cash flow statement, using selected income tax return and personal financial statement information, to identify the amount of personal cash flow available to support business debt service;
Understand the extent of the guarantor's personal cash flow dependence on cash sources from the business whose debt is supported by the guarantee;
Understand the benefits and limitations in the construction and use of the personal cash flow statement in assessing the value of a personal guarantee; and
Understand the relative roles of cash from personal assets and cash from personal cash flow in determining the value of a personal guarantee.
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