Critical Concepts to Understand the Balance Sheet, Income Statement, Cash Flow and Retained Earnings

Why Should You Attend:

This webinar will focus on discussing the concepts of the primary financial statements utilized at every company: balance sheet, income statement, cash flow statement and retained earnings statements. Many professionals are uncomfortable with trying to read and interpret the financial statements. This session will focus on simplifying and breaking down the process for attendees.

Areas Covered in the Webinar:

• Balance sheet
• Explore the components of assets, liabilities and equity and varying formats of presentation
• Identify what “Balancing” the balance sheet means
• Discover the relationship to Income statement components
• Income statement
• Identify what comprises revenue
• Explore varying types of income statements
• Identify expenditures
• Recognize Net Income/Loss and flow through to balance sheet
• Statement of Cash Flows – The King!
• Explore why the cash flow statement is King
• Discover what the cash flow statement tells the company
• Recognize how the cash flow statement links to the balance sheet and income statements

Who Will Benefit:

• Accountants
• Finance Personnel
• Controllers
• Board members and audit committee members
• Compliance professionals
Instructor Profile:



Lynn Fountain
Former Chief Audit Executive, Aquila

Lynn Fountain has over 35 years of experience spanning public accounting, corporate accounting and consulting. She has 20 years of experience working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance.

Ms. Fountain has held two chief audit executive positions for international companies. Since 2008, she has served in positions where she was responsible for internal audit, enterprise risk management and Sarbanes-Oxley. Ms. Fountain has a private consulting and training business, and she has developed and delivered leading edge training sessions on COSO, internal audit, ERM, accounting, leadership, governance, compliance and ethics. She delivers training for the American Institute of Certified Public Accountants, Institute of Internal Auditors, and multiple seminar and training groups.

Ms. Fountain is the author of two technical books that released in 2015: Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations; Leading the Internal Audit Function. In addition, Ms. Fountain is a frequent blogger on the LinkedIn platform and has also had numerous articles published in professional and technical publications. She is currently authoring a third technical book on corporate ethics and the internal auditor’s challenge.

She has performed as an adjunct instructor for the School of Business for Grantham University and developed the first internal audit curriculum for the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate (non-active).

Topic Background:

Accountants and finance personnel are schooled in the basics of the concept of financial statements during their educational years. The focus is often on the calculations, format and purposes of the statements. Once professionals enter the working world they find that the financial statements are truly an integral tool for managing and monitoring the financial health of an organization.

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