Financial Statements and Business Organizations
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In this 2nd course of the Introduction to Commercial Credit Skill Series, participants will examine income statement and balance sheet differences for LLCs, S corps, and sole proprietorships, focusing on income tax accounts, and compare C corps, S corps, partnerships, LLCs, and sole proprietorships.
Certificate
1 credit or $295
Cost
1.5 - 2 Hrs.
Duration
1 hr.
Prep Time
1
Quiz
Overview
In the first webinar session, participants examine the similarities and differences in income statement and balance sheet accounts for a limited liability company, a Subchapter S corporation, and a sole proprietorship with emphasis on the existence or absence of income tax accounts, as well as explore the sequence and rationale for the flow of accounts. Further, participants identify the areas of similarity and difference between and among a Subchapter C corporation, a Subchapter S corporation, a partnership or limited liability company, and a sole proprietorship.
Who Should Attend
This Course is ideal for participants currently in or aspiring to enter the following job functions:
- Commercial Credit Administration
- Commercial Loan Administration
- C & I Lending
- Corporate Lending
- Private Banking
- Loan Review
- Special Assets
- Internal Audit
- Health Care Provider Lending
- Specialized Lending
- Credit Analysis
Prerequisites
Familiarity with accrual financial statements and accrual financial statement terminology.
Objectives
By the end of the webinar session, participants will be able to:
- Identify major differences in income statement accounts across several different business organizations.
- Identify major differences in balance sheet accounts across several business organizations.
- Identify reasons for changes in net worth accounts across several business organizations.
- Define liquidity and understand reasons for the sequence and flow of asset and liability accounts for several business organizations.
- Identify the major differences between Subchapter C corporations, Subchapter S corporations, partnerships and limited liability companies, and sole proprietorships.
- Identify how Total Coverage, Inc. is organized based on the initial call on its owner.
Materials(access provided with registration)
- Terms and Concepts - Business Organizations
- Financial Statements for Gemini Press
- Financial Statements for Fresno Properties
- Financial Statements for Sweet Feet
- Transcript for Initial Interview with Larry Crevin
- Exercise for the Session 1 Webinar
- Webinar Presentation Slides
- Webinar Poll Questions
- Webinar Poll Solutions
- Exercise Solutions
This is Course 2 of 5 in the Introduction to Commercial Credit Skill Series
The 5 C's of Commercial Credit
Financial Statements and Business Organizations
Personal Qualities and Competitive Advantage
Critical Ratios and the First Necessary Condition for Success
Non-Financial Red Flags and the Second Necessary Condition
