Please sign up to receive updates of our prgrammes, market trends and monthly eNewsletter
------------------------------------------------------------ Click here to view our past events ------------------------------------------------------------
Preparation and Presentation of Financial Statements 2-3 Mar '09| 2 Days Rescheduled to 8-9 Apr
About the seminar
....................................................................................
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:
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.
• 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 and joint ventures
- 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)
Danny has over 25 years of working experience in public practice, commerce and industry. He was trained with a firm of Chartered Accountants in London where he worked for over 10 years in the audit and consultancy. He also held the positions of business development and business operation manager with two UK multinational companies based in London for 5 years. Danny also has two years of public practice experience in Malaysia in Between 1996 and 1997 where he was an audit manager with a firm of accountants.
He is currently the partner of a firm providing financial training and consulting for firms in public practice and industry. Danny specialises in International Financial Reporting Standards. He is an experienced speaker in financial reporting and financial statement analysis for several professional institutions and public listed companies in Malaysia and overseas. Danny is serving as a project manager to the Malaysian Accounting Standard Board in several working groups.
Danny holds an Honours Degree in Economics (major in finance and investment) from Manchester Metropolitan University (UK), MBA from Heriot-Watt University (UK) and Master in Advance Business Practice from University of South Australia. He is a member of Malaysian Institute of Accountants, a fellow member of Chartered Instituted of Management Accountants, a fellow member of Association of Chartered Certified Accountants and an associate member of Malaysian Institute of Taxation.
If you are having trouble registering online then you may download and fill out this registration form and fax it to (65) 65090292.
