Review the income statement, statement of retained earnings, balance sheet and statement of cash flows.
The income statement is sometimes called the P&L or profit and loss statement. Revenue minus expense gives you net income and net loss. That’s a pretty basic formula and part of the first financial statement reviewed in this video. Our speaker, David L. Osburn, M.B.A., CCRA, reviews these four statements and also discusses the 10 step accounting cycle.
David L. Osburn, M.B.A., CCRA
Osburn & Associates, LLC
- Founder of Osburn & Associates, LLC
- Contract CFO clients include medical practitioners, financial institutions, law firms, CPA firms, architects, real estate developers, and contractors
- Extensive professional background of over 30 years encompasses 21 years as a business trainer/contract CFO and 16 years as a bank commercial lender including the position of vice president/senior banking officer
- Banking credentials include loan underwriting, loan work-out, management, and business development
- Has been an adjunct college professor for over 30 years including the College of Southern Nevada
- Holds the professional designation of Certified Credit & Risk Analyst (CCRA) as granted by the National Association of Credit Management (NACM)
- M.B.A. degree, Utah State University; B.S. degree in finance, Brigham Young University; graduate of the ABA National Commercial Lending School, University of Oklahoma
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