Reading Financial Statements in the Public Sector
Public sector financial statements can be confusing, especially for non-finance managers. There are key differences to this type of accounting practice.
For example, one of the largest differences involves the income statement. In private companies, the income statement is one of the primary financial statements that show the revenues and expenses for an organisation in a given period. Government organisations use a variation of the income statement, which is referred to as the ‘statement of activities’. Many government organisations use the statement of activities to record income and expenses during the fiscal year. Our financial literacy course can be customised for those who want to make reading public sector financial statements easier. In fact, our Colour Accounting™ workshop has been proven to help people from all walks of life become more comfortable with understanding the terminology, concepts, and frameworks of financial accounting. Once you have built a strong foundation in the principles of accounting, you can further your learning by recording 14 specific transactions. Each of these transactions is designed to help you learn a specific financial concept. This is one reason why our finance for non-financial managers course is so effective. Once you complete our financial literacy workshop, we guarantee that you will:- Have a better understanding of financial matters
- Gain the ability to read and analyse a balance sheet and income statement
