Board of directors financial reporting fundamentals Course

Board of directors financial reporting fundamentals Course on 5th to 9th December 2022

Course calendar

Course overview

This course is designed for directors without a financial or accounting background. It provides directors with essential accounting knowledge and practical tips, and equips them with the key tools and concepts to review company financial statements. Through case studies and related discussions on situations involving financial and accounting matters, participants will learn what questions to ask, what to watch out for as a director and why they should be looking at these areas.

Duration

5 Days

Target Audience

Aspiring and current directors without a financial background.

Objectives

1. Understand directors’ duties in respect of company financial reporting obligations and internal controls.
2. Highlight the importance of asking relevant and probing questions in relation to financial statements.
3. Enhance directors’ effectiveness when reviewing financial statements prepared by management.

Course modules

1. Directors’ duty in preparing true and fair financial statements.
2. Directors’ duty in implementing internal controls.
3. Key focus areas when reviewing financial statements.
   • Financial statements prepared on a going concern basis.
   • Presentation of Statement of Financial Position.
   • Revenue: timing of recognizing revenue.
   • Fictitious revenue and prepayment.
   • Impairment of assets and judgmental estimates.
   • Provision: liabilities of uncertain nature.
   • Financial notes and disclosure: credit risk and fair value measurement.
   • Investment in other companies’ equities.
   • Presentation of Statement of Cash Flow.
   • Common accounting mistakes.