Understanding Financial Statements

Join us for Understanding Financial Statements, part of our Financial Foundations accounting expert series. This seminar is presented by Hawkins & Co. and Chartered Professional Accountants of Canada. Cover the basics around the terms and concepts of financial statements.

Learning objectives for participants:

• review and understand financial statements
• be able to ask informed questions of financial professionals

Outline:

• How’s the business doing?
• Did we make money this year?
• What does my P&L tell me?
• Why do I need a balance sheet?
• Where is my cash coming from?
• Where is my cash going to?
• Why isn’t my cash equal to my profit?

Learning Materials:

• Profit and Loss Statement — gives operating results for a specific period
• Balance Sheet – shows the assets, liabilities, and capital of a business or other organization at a particular point in time; details the balance of income and expenditure over the preceding period
• Cash Flow Statement – shows how changes in balance sheet accounts and income affect cash and cash equivalents; breaks analysis down to operating, investing and financing activities

Presenters: Hawkins & Co.

Jules Hawkins: A transplant from the UK, this Cambridge-educated double-CPA, CA (UK and Ontario) is creating waves in Essex County and beyond. Jules has 15 years of big firm experience in the UK and Toronto, and 10 more years with smaller firms in Windsor. With many other connections in our community (sessional instructor at Odette Business School at the University of Windsor; professional volunteer at the Small Business Centre, and a local Rotarian), Jules has the perfect background to support Windsor–Essex business owners.

Although Jules has worked with businesses of all sizes – from new start-ups to multinational corporations – he particularly enjoys working with small fast-growing companies, owner-managed businesses and non-profit organizations. He stays on top of his professional game by teaching courses and acting as an accredited Practice Inspector for CPA Ontario.

Allison Hawkins: Fifty percent super accountant, 50% design maven, Allison is the woman behind the Hawkins & Co brand and the talent that make up this firm’s winning profile. With solid experience at PWC, Prudential Life and Pensions UK, Ernst and Young, (UK and Toronto) and Direct Energy, she has built business models to help clients obtain financing, as well as reviewed business processes across a wide range of companies.

Since 2007, she has focused on start-ups and owner managed businesses across Canada, helping them develop and finance their business plans, and set up their accounting and POS systems.

Margaret Deneau: Margaret has been with Hawkins & Co. since early 2016. She received her Post Graduate Certificate in Accounting from the Odette School of Business in 2017 and is currently enrolled in the CPA program, working towards a Chartered Professional Accountant designation.

Prior to joining the Hawkins & Co. team, Margaret was a client of Allison and Jules. She owned a local small business and was the winner in 2013 and finalist in 2012 of a Business Excellence Award from the Windsor-Essex Regional Chamber of Commerce.

Margaret also has a Bachelor of Music degree and worked for many years as a professional pianist. Music, the arts, and travel are an integral part of her life, and she spends most of her spare time going on adventures with her children.