preparation and presentation of financial statements Workshop

fp consultants international pte ltd
singapore, singapore, singapore

Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced
Teacher/Instructor: danny, tan boon wooi
Fee: s$536

Course Description:

'' http://www.fp-consultants.com/pro_preparation_financial_statement.html

the manner how financial statements are presented can affect users in making economic decision such as decision to buy, hold or sell equity interest. often an additional line item, total or subtotal can change the perception of the user about the results and financial position of an entity. offsetting of income and expense, asset and liabilities can also affect the information presented to users and can renders a financial statements being fairly presented of otherwise. it is therefore critical for preparer of financial statements to fully understand the rules governing presenting a set of financial statement.

this workshop provides a comprehensive technical analysis of:

�ias 1 presentation of financial statements
�ias 7 cash flow statements

the workshop also covers the technical requirement of other standards in so far as they affect presentation of financial statements.

the workshop explains the financial reporting environment in countries that used ifrs as their national accounting standards and uses practical examples to demonstrate the technical requirements complying with ias 1 and ias 7.

outline

�a comprehensive coverage of the requirement of ias 1 with illustrations from published financial statements

�the workshop examines the diversity of formats currently used in practice to present income statement, statement of changes in equity and balance sheet. to explain how these diversity of formats relate to the requirement of ias

�the workshop addresses the practical issues in the presentation of financial statements as follows such as:

- fair presentation and compliance with ifrs
- offsetting of assets and liabilities; income and expense
- relationship between materiality and aggregation
- how to decide when to include additional line items, headings, subtotals and total
- under what circumstances is regarded as changing comparative information

�detail examination of the contents and format for the presentation of information in:
- income statements
�by nature vs by function
- statement of changes in equity
�columnar format vs. statement of recognised income and expense
- balance sheet
�present by using current or non-current distinction or by order of liquidity

�notes to the financial statements:
- detail examination of the structure of disclosure
- disclosure of accounting policies
- disclosure of key sources of estimation uncertainty

�understanding the technical requirements of ias 7:
- cash and cash equivalents
- presenting and reporting operating, investing and financing activities
- direct method vs. indirect methods
- reporting cash flows in net basis or gross basis
- presentation of interest, dividend and taxation in the cash flow statement
- identifying non-cash transactions �funds vs. cash

�practical issues in the preparing cash flow statements:
- direct method and indirect method
- cash equivalent pledged to financial institutions
- foreign currency cash flows

�mastering the techniques of preparing consolidated cash flow statements:
- subsidiaries, associates andventures
- acquisition and disposal of subsidiaries and business units
- foreign subsidiary

�contemporary issues and future changes
- an examination of ias 1 revised (effective date 1 january 2009)
- discussion paper on reporting financial ferformance (new formats)

target audience

�main target audience - practicing accountants:
- company accountants
- internal/external auditors
- preparer of financial statements

�others (prerequisite - sound accounting knowledge) :
- finance director
- users of financial statements
- market analysts
- lecturers

...''

Elements of this syllabus are subject to change.

Phone:+65 6509 0298

School Address:

28 genting lane, #07-06 platinum 28 singapore 349585


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