This 1-day seminar is designed to give lawyers and company directors a clear understanding of the language and meaning of corporate and organisational finance
Every participant will receive a copy of ‘Financial literacy for Lawyers and Directors’ by Andrew McRobert and Ronnie Hoffman, published by Thomson-Reuters
Why is this seminar needed?
A significant proportion of a corporate financial statement relies on the judgement of an accountant. It is important to know how, when where and why that judgement is exercised.
What does the seminar cover?
There are three elements to understanding financial statements:
This seminar addresses elements 1 & 3, on the assumption that readers will have somebody who can carry out element 2 on their behalf. However, the seminar provides enough information and understanding to enable participants to undertake element 2 after completion of the seminar.
The material is presented through a combination of formal presentation, interactive discussion and group work. During the course of the seminar, participants will work through the 2010 financial statements of an Australian publicly listed company.
The seminar will make reference to the current International Financial reporting Standards (‘IFRS’) and the Australian application of IFRS. However, participants from non-IFRS countries can also participate, because Element 1 is designed to enable participants to understand the purpose of accounting concepts and policies, regardless of the actual level of sophistication of those policies in their respective countries.
Demystifying the 3 critical documents:
A walk through the basic accounting concepts.
Applying these concepts to accounting principles – an overview.
A closer examination of the Income Statement including:
A walk through the Balance Sheet:
A walk through the cash flow statement:
Is there anything of interest in the notes?
What indicators of financial performance and financial position are readers of financials looking for?
A brief look at some common forms of cosmetic accounting.
South Africa: +27 82 447 4256
Australia: +61 402 048 326