yup, that's right. but u can't really explain anything in accounting without referring to any of the financial statements, so we usually point to the financial statements in slides often. our interpretations are whats mostly done on the spot, but we rely heavily on 1-8 financial statements that we've prepared beforehand. its just basically preparing one set of relative data and interpreting it all in class. u can't really prepare and recite for a presentation because they ask you to prepare the statements but dont actually give the questions until the day of the presentation. but thats happened only happened like six times so far.