1-Day Workshop on Understanding Financial Statements and Annual Reports
Course Description Reading and understanding financial statements and annual reports can be a daunting task for many of us, especially if we are non-finance professionals and investors, not only in our work but also as stakeholders of other public-listed entities. We often find ourselves deterred from our attempts to delve into the myriad of information presented in financial statements and their overwhelming details that are separately noted in the annual reports. This 1-day course is designed to explain the more complicated terms commonly found in the financial statements of most business entities and also to provide you with a more practical and insightful experience with reading and understanding financial statements. Specifically, this workshop describes the three major financial statements, namely, the Balance Sheet, Income Statement (including the Statement of Comprehensive Income) and the Statement of Changes in Equity published in the annual report of an exchange-listed company. Relevant accounting principles and procedures, such as the Dual Aspect and Matching principles, and Double-entry (debit and credit) Accounting will feature in the lectures along with practical illustrations and exercises. This workshop will enhance your confidence and make your experience more rewarding when reading financial statements and annual reports. Course Outline - Key Components of Corporate Annual Report
- Consolidated Financial Statements
- Limited Liability Company vs Sole Proprietorship/Partnership
- Parent – Subsidiary Relationship
- Balance Sheet
- Accounting Equation
- Assets
- Liabilities
- Equity
- Non-controlling Interest
- Income Statement
- Revenue
- Expenses
- Accrual vs Cash Accounting
- Effects of Revenue and Expenses on Equity
- Double-entry and the T-account
- Statement of Changes in Equity
- Linking Statement of Changes in Equity with Balance Sheet and Income Statement
- Share Dividends and Share Capital
- Share Options and Share Capital
- FX Translation Differences and Currency Translation Reserve
- Statement of Comprehensive Income
- How Transactions Flow to the Financial Statements
Who Should Attend This financial training course will benefit managers, executives and mid-career professionals who wish, or need, to understand the relevant fundamentals of Financial Accounting to read and understand financial statements and annual reports. About the Trainer Mr Chow has more than 15 years of experience as General Manager of various manufacturing subsidiaries of a multinational company in Singapore and China. He also owned a manufacturing operation in China which he set up and managed for over ten years until end 2012. He has delivered accounting and finance lectures to students pursuing the Certificate in Management (CIM) at the Singapore Institute of Management (SIM), and conducted in-house financial training during the initial stage of his career as a statistics and research officer at a Malaysian bank. Chow holds a Master of Business Administration (MBA) degree in Accounting and Finance from Ohio University in the USA. While pursuing his MBA degree, he delivered accounting lectures to freshmen students, a provision under the university's Graduate Assistant Scholarship Scheme. |
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