Financial Planning Personal Financial Statements
Module refreshed June 2023 | CPD time: 2 Hours
When creating financial plans for clients, it is important to understand the purpose of personal financial statements: client net worth, tax, and cashflow/income and expenditure. This module examines how to create and calculate these statements for clients and mitigate any tax consequences of the advice that is given in the financial plan.
1. Introduction
2. Why Financial Statements are Important
3. Preparing a Net Worth Statement
4. Preparing an Income & Expenditure Statement: Steps 1-3
5. Preparing an Income & Expenditure Statement: Step 4
6. Bringing it All Together
Module Test