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Basics in Financial Literacy Program (Upcoming Live Course)

Learn to Read and Understand Financial Statements

Date: March 16th to April 6th - Every Wednesday
Location: Online
Time: 1pm to 2:30pm (ET)

*Early-bird pricing ends on March 1st, 2022. Standard price: CAD$ 795

Designed for professionals tackling the early stages of financial literacy, our 4-week program gives the confidence you need to understand your organization's reports, such as your income statement and balance sheet.

The Basics in Financial Literacy Program gives board members, governance professionals, directors, managers, business owners, and investors the independence in understanding financial reports, and in asking great questions about them.

Learn how to keep score:

  • The Growth Score: gain a deeper understanding of revenue and the statement of income
  • The Profit Score: explore various types of expenses, the bottom-line profit, and how to know when enough is enough
  • The Cash Score: delve into the concept of assets in their various types and forms and how to recognize them in the statement of financial position
  • The Capital Score: recognize the nuances of liabilities and equity and their place in the statement of financial position


March 16th – Keeping Score Through Growth: Revenue and the Statement of Income

  • Keep score through growth
  • What an income statement is
  • What revenue is
  • How to increase our income/growth
  • What the difference between volume and price variances is

 March 23rd – Keeping Score Through Profits: Expenses, Profits, and the Statement of Income.

  • Keeping score in profits and productivity
  • Earning analysis
  • Productivity analysis
  • What expenses are
  • Difference between cost of goods sold and operating expenses
  • What gross margin is
  • Profits – the Bottom Line
  • Difference between profit and cash
  • Increasing income vs reducing expenses

 March 30th – Keeping Score Though Cash: Assets and the Statement of Financial Position

  • Keeping score with cash
  • Enough cash vs too much cash
  • What a balance Sheet is
  • What a fiscal year is
  • What an asset is
  • Types of assets
  • What accounts receivable are
  • Income statement vs balance sheet

 April 6th – Keeping Score Through Capital: Liabilities, Equity and the Statement of Financial Position.


  • Keeping score in shareholder value
  • What liability is
  • What debt is
  • Current and long-term liabilities
  • Deferred revenue


  • What capital is
  • What reserves is
  • Difference between capital and working capital
  • Retained earnings and equity/net assets

Worried you’ll miss a session?
Replay videos, as well as supplemental handouts and presentations, are available via your materials page for a minimum of one year!


These highly interactive sessions will familiarize you with practical tools, and then engage you in board simulations to gain practical experience in using these tools.


Where are you at?

There are 5 levels of Financial Literacy:

Level 1 - Knowledge of mathematics

Level 2 – Knowledge of basic statements

Level 3 - Knowledge of the Notes, Cash Flow Statement and MD&A

Level 4 - Knowledge of the assumptions behind the financial statements

Level 5 - Knowledge of GAAP and Auditing

This program is aimed at an audience that is early in the financial literacy spectrum; people seeking to be confident at level 2.




Cancellation Policy: If you find it necessary to cancel your registration, we will issue a full refund minus a CAD$100 administration fee for cancellations received in writing at least 30 business days prior to the event. The registration fee is non-refundable for cancellations made less than 30 days prior to the event. In those cases, you may transfer your registration fee, once, to a future training course at no additional cost (for similarly priced seminars) or arrange for a substitute person to attend. Those who do not cancel and do not attend are responsible for the full registration fee. Governance Solutions reserves the right to cancel or reschedule and will give notice in advance. We are not responsible for penalties resulting from the use of discounts or other airfares.