In this first lesson, you can recap the basic structure of both cash flow and balance sheets, with some useful tips on reading financial statements.

The first section of the balance sheet covers assets. In this lesson, you can examine the different types of assets, in addition to other items which appear in this section of the statement.

Where assets represent everything that a business owns, liabilities are everything the company owes. In this lesson, you can explore some of the common items that appear in this section of the balance sheet.

The final component of the accounting equation is equity. In this lesson, you will explore the common items which appear in the equity section of the balance sheet, before performing the relevant calculations to ensure the books are balanced.

With assets, liabilities and equity calculated, we can start to apply analytical techniques to our balance sheet. In this lesson, you can use financial ratios such as the current ratio and return on assets to extract insights from our financial data.