Course Detail(A142 : Financial Reporting & Analysis)

SDF Funding, SkillsFuture Credit

A142 : Financial Reporting & Analysis

14.00 CPE Hours (Category 1)
Classroom

Please be informed that in view of the current COVID-19 situation, ISCA will change the format of Jun - Aug 2020 courses into Live Webinar. A detailed set of instructions on the Live Webinar will also be sent to you closer to date. Please sign up for a Zoom account (https://zoom.us/) if you currently do not have an account.

The live webinar session is eligible for SkillsFuture Singapore (SSG) funding.
Please proceed to submit your claim application as per usual as there are no changes to funding application procedures. On SSG portal, please take note to select the correct course title, which includes the term "Synchronous e-learning".


Programme Objective

This is a fun and engaging workshop on financial and business analysis, investment decision making, cash management and planning for value growth. 

Financial reports speak their own language, one that many ordinary people have trouble translating. This interactive workshop clears the confusion, helping you to understand the information contained in essential financial reports and then shows you how to use that understanding to make informed, intelligent decisions. 

This workshop will give you an immediate, working knowledge of the three primary financial statements – the Balance Sheet, the Income Statement and the Statement of Cash Flows. It will help you master the tools of finance where they can be useful to you, without wasting time explaining the deep details that will likely never benefit you.

This is a highly interactive workshop which will include plenty of story-telling, short case examples, practical case studies, real life illustrations, ‘think tank time’ and end-of-day quiz questions (Who Wants to be a Finance Genius) which will help reinforce the learning concepts and outcomes. 

By the end of the workshop, participants will be able to:

  • Make sense of important financial documents, from income statements, balance sheets, to cash flow statements.
  • Locate the key areas to focus on when reviewing reports.
  • Be aware of how management decisions and business transactions impact the financials and how they get recorded.
  • Understand why management of working capital is important and ways to improve the management of receivables, payables and inventories.
  • Understand the capitalisation decision for a company.
  • Understand how deferred tax assets and liabilities are created.
  • Practical applications and case studies – Using the ‘21-Step Approach’ to analyse financial statements.
  • Have had an opportunity to network and contact build with friends on this program.

In addition to lecture notes and case studies, all participants attending this workshop will be given a specially-designed checklist prepared by the trainer called the ’21-Step Approach to Analysing Financial Statements’ and ‘Illustrative Set of Financial Statements” which will be a helpful tool for use at your workplace. These items are not available for sale in the market.

Programme Outline

Module 1 – The Interrelationship of Financial Statements: Making the Connections

  1. Dissecting the Annual Report – Breaking Down the Parts
  2. The Meat of the Matter – Looking at the 3 Most Important Documents
  3. Understanding the Audit Process – The Role of the Auditor
  4. IFRS vs US GAAP – Similarities and Differences
  5. Movie Time – Accounting Standards: Is Convergence a Reality or Just a Dream?

Module 2 – The Balance Sheet: Value and Ownership

  1. Understanding the Balance Equation
  2. Introducing the Balance Sheet – Digging into Dates, Nailing Down the Numbers
  3. Assets – Current Assets vs Long Term Assets
  4. Liabilities – Current Liabilities vs Long Term Liabilities
  5. Equity – Contributions from Shareholders vs Retained Earnings

Module 3 – The Income Statement: The Flow of Progress

  1. Introducing the Income Statement – Digging into Dates, Figuring out the Format
  2. Delving into the Tricky Business of Revenues
  3. Acknowledging Expenses
  4. Sorting out the Profit and Loss Types – EBIT vs EBITDA vs Net Income
  5. Calculating Earnings Per Share (EPS)

Module 4 – The Statement of Cash Flows: Tracking the King

  1. Profit is Not Equal to Cash: What's the Difference and Why You Need Both?
  2. Digging into the Statement of Cash Flows – Indirect vs Direct Formats
  3. Classification of Transactions to Operating, Investing and Financing Activities
  4. Understanding the Alternative Definitions of Free Cash Flow
  5. IFRS vs US GAAP – Classification of Interest and Dividends

Module 5 – The Capitalisation Decision

  1. Implications of Capitalizing vs Expensing on Financial Statements and Ratios
  2. Capitalization of Long-Term Tangible and Intangible Assets (including Goodwill)
  3. Basic Methods of Depreciation and Amortisation, and Implications
  4. Understanding the Asset Revaluation Model and Accounting for Investment Property
  5. Calculating the Impairment of Long-Term Assets

Module 6 – Accounting for Deferred Taxes

  1. Introducing Statutory Tax Rate, Effective Tax Rate and Adjusted (Cash) Tax Rate
  2. Computing Taxable Income, Accounting Profit, and Income Taxes Payable
  3. Describing how Deferred Tax Assets and Liabilities are created
  4. Temporary Differences vs Permanent Differences
  5. Key Income Tax Differences – IFRS vs US GAAP

Module 7 – Concepts Integration and Review

  1. Talking Point – Do Financial Statements Report the Truth, the Whole Truth, and Nothing but the Truth?
  2. Practical Applications and Case Studies – Using the “21-Step Approach” to Review Selected Companies Financial Statements
  3. Recap with a Fun Quiz and Game Show – “Who Wants to be a Finance Genius?”

Why Attend this Workshop? Why this One?
The answer is communication. This workshop will help you better understand the language of finance.

The trainer is a highly experienced practitioner and instructor and is well-regarded for his ability to translate complex financial concepts into plain language, and the use of illustrations, examples and real life experiences to help develop/enhance your understanding of finance and accounting.

The trainer is able to draw on his full depth of knowledge about accounting, creativity and experience to develop compelling and enjoyable programs.

Training Methodology

Workshop style - Story-telling, Fun Facts, Short Case Examples, Real Life Illustrations, ‘Think Tank Time’, ‘Talk to Your Neighbour’, “It’s Movie Time” with pre- and post-screening activities, and plenty of team activities such as end-of-day quiz questions (Who Wants to be a Finance Genius) which will help reinforce the learning concepts and outcomes.

Closing Date for Registration1 week before program or until full enrolment

Intended For

An Intermediate Level programme intended for professionals who wish to expand and enhance their knowledge, skills and abilities to effectively and efficiently analyse and interpret a company’s financial statements. This programme is also suitable for those who wish to achieve a deeper qualitative understanding on how the Financial Reporting Standards (FRSs) interplay in the key financial statements.

Competency Mapping

Category 1 = 14.00 Hours

Schedule & Fees

Date & Time

07 Nov 2019 (9:00 AM - 5:00 PM)
08 Nov 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Sarjit Singh

Date & Time

29 Jul 2019 (9:00 AM - 5:00 PM)
31 Jul 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Sarjit Singh

Date & Time

27 Dec 2018 (9:00 AM - 5:00 PM)
28 Dec 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Sarjit Singh

Testimonial

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 19 May 2021
Course Reference Number: TGS-2020501907

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. You may wish to use your SFC to pay for partial/full ISCA course fees. 

On 1 Oct 2020, the Government provided a one-off SkillsFuture Credit Top-up of $500 for all eligible Singaporeans aged 25 or above by 31 Dec 2020. Singaporeans aged 40 to 60 by 31 Dec 2020 will also receive an Additional SkillsFuture Credit (Mid-Career Support) of $500 which can be used for courses under: (i) SGUnited Skills Programme, (ii) SGUnited Mid-Career Pathways Programme – Company Training, and (iii) Career Transition Programmes. This additional SFC (Mid-Career Support) is NOT applicable for use on ISCA courses. (For more information on the SFC scheme, please visit http://www.skillsfuture.sg/credit)

If you wish to enrol for the course with SFC Funding, please proceed with the following steps:

Failure to submit claim application and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use. Please note that there will be an administrative fee of $42.80 for any revision of invoice.


2] WDA Training Grant - SDF Funding
This course is approved for SDF funding ($2 per training hour) for Company-sponsored participants only (Eligibility criteria apply). 

Funding Period: Until 19 May 2021
Funded Hours: 14 hours
Course Reference Number: TGS-2020501907

If you wish to enrol participants with SDF Funding, please proceed with the following steps (For Corporate enrolments only) :

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for WDA Funding?”, click Yes and input all required information. At the Cart page, please ensure that SDF funding is applied before clicking “Checkout”.
     

 

For course run start date before 1 Nov 2020, submit training grant application in SCN until 30 Nov 2020.

For course run start date on or after 1 Nov 2020, Enterprises/employers are NOT required to log into TPGateway/SCN to submit training grant.

Remarks

Step 2: After receiving email that the programme status is confirmed, please proceed to submit the Training Grant application via SkillsConnect Portal (https://www.skillsconnect.gov.sg/).

Employers of company-sponsored participants must submit training grant via SkillsConnect to obtain training grant for course fees. You may submit the Training Grant application within the period from 30 days before the course start date to 30 days after course start date.

The employee’s enrolment, attendance and assessment recordswill be submitted by ISCA onto TPGateway.


Please note that there will be an administrative fee of $42.80 for any revision of invoice.

Eligibility Criteria:

  • Company must be registered or incorporated in Singapore and;
  • Applicant is taking the course for the first time.
  • Applicant must be employed, and is either Singapore Citizen or Permanent Resident of Singapore and;
  • Applicant must achieve at least 75% attendance, and pass all examinations /assessments and;
  • Applicant must be fully sponsored by the Company for all costs associated with the training and;
  • Payment has to be made via corporate means (e.g. corporate cheque, corporate GIRO, corporate credit card).

Programme Facilitator(s)


Sarjit Singh
FCA (Singapore), FCA (Australia)

Chairman, Kreston Ardent CAtrust PAC

Sarjit is the Executive Chairman of Ardent Associates LLP, a firm of Chartered Accountants and the winner of the Best Practice Award at the Singapore Accountancy Awards in 2016. Ardent is a member firm of Kreston International.

Sarjit leads the Risk and Governance practice at Ardent. He has an extensive experience in a broad range of assurance and advisory services including statutory audits, corporate governance, risk assurance, internal audit, financial due diligence and regulatory advice.

Sarjit has over 25 years of multinational experience including 16 years with PricewaterhouseCoopers (PwC) where he led the audit and advisory engagements of various multinationals, public listed companies and financial institutions.

Prior to Ardent, Sarjit was the CFO of AIA Singapore and Aviva Asia. He was responsible for formulating and implementing the financial, investment and commercial strategies for AIA Singapore and Aviva's diverse businesses in Singapore, Hong Kong and the Asia Pacific region respectively.

Sarjit has served on various Singapore government-appointed committees, including the Committee on the Future Economy (CFE), Working Group on Legal and Accounting Services and the Central Provident Fund (CPF) Life Committee.

Sarjit is presently serving as the Chairman of the Singapore Accountancy Commission’s Chartered Accountancy Learning and Assessment Committee – Foundation Programme. He is also a member of the Board of Education and Examiners at the Institute of Singapore Chartered Accountants.

Sarjit was conferred the Public Service Star (BBM) in 2011, the Public Service Medal (PBM) in 2007, the ‘Nanyang Alumni Achievement Award’ in 2012, and the SG50 community accolade in 2015 in recognition of his professional achievements and contributions to the nation.
 

Please be informed that in view of the current COVID-19 situation, ISCA will change the format of Jun - Aug 2020 courses into Live Webinar. A detailed set of instructions on the Live Webinar will also be sent to you closer to date. Please sign up for a Zoom account (https://zoom.us/) if you currently do not have an account.

The live webinar session is eligible for SkillsFuture Singapore (SSG) funding.
Please proceed to submit your claim application as per usual as there are no changes to funding application procedures. On SSG portal, please take note to select the correct course title, which includes the term "Synchronous e-learning".


Programme Objective

This is a fun and engaging workshop on financial and business analysis, investment decision making, cash management and planning for value growth. 

Financial reports speak their own language, one that many ordinary people have trouble translating. This interactive workshop clears the confusion, helping you to understand the information contained in essential financial reports and then shows you how to use that understanding to make informed, intelligent decisions. 

This workshop will give you an immediate, working knowledge of the three primary financial statements – the Balance Sheet, the Income Statement and the Statement of Cash Flows. It will help you master the tools of finance where they can be useful to you, without wasting time explaining the deep details that will likely never benefit you.

This is a highly interactive workshop which will include plenty of story-telling, short case examples, practical case studies, real life illustrations, ‘think tank time’ and end-of-day quiz questions (Who Wants to be a Finance Genius) which will help reinforce the learning concepts and outcomes. 

By the end of the workshop, participants will be able to:

  • Make sense of important financial documents, from income statements, balance sheets, to cash flow statements.
  • Locate the key areas to focus on when reviewing reports.
  • Be aware of how management decisions and business transactions impact the financials and how they get recorded.
  • Understand why management of working capital is important and ways to improve the management of receivables, payables and inventories.
  • Understand the capitalisation decision for a company.
  • Understand how deferred tax assets and liabilities are created.
  • Practical applications and case studies – Using the ‘21-Step Approach’ to analyse financial statements.
  • Have had an opportunity to network and contact build with friends on this program.

In addition to lecture notes and case studies, all participants attending this workshop will be given a specially-designed checklist prepared by the trainer called the ’21-Step Approach to Analysing Financial Statements’ and ‘Illustrative Set of Financial Statements” which will be a helpful tool for use at your workplace. These items are not available for sale in the market.

Programme Outline

Module 1 – The Interrelationship of Financial Statements: Making the Connections

  1. Dissecting the Annual Report – Breaking Down the Parts
  2. The Meat of the Matter – Looking at the 3 Most Important Documents
  3. Understanding the Audit Process – The Role of the Auditor
  4. IFRS vs US GAAP – Similarities and Differences
  5. Movie Time – Accounting Standards: Is Convergence a Reality or Just a Dream?

Module 2 – The Balance Sheet: Value and Ownership

  1. Understanding the Balance Equation
  2. Introducing the Balance Sheet – Digging into Dates, Nailing Down the Numbers
  3. Assets – Current Assets vs Long Term Assets
  4. Liabilities – Current Liabilities vs Long Term Liabilities
  5. Equity – Contributions from Shareholders vs Retained Earnings

Module 3 – The Income Statement: The Flow of Progress

  1. Introducing the Income Statement – Digging into Dates, Figuring out the Format
  2. Delving into the Tricky Business of Revenues
  3. Acknowledging Expenses
  4. Sorting out the Profit and Loss Types – EBIT vs EBITDA vs Net Income
  5. Calculating Earnings Per Share (EPS)

Module 4 – The Statement of Cash Flows: Tracking the King

  1. Profit is Not Equal to Cash: What's the Difference and Why You Need Both?
  2. Digging into the Statement of Cash Flows – Indirect vs Direct Formats
  3. Classification of Transactions to Operating, Investing and Financing Activities
  4. Understanding the Alternative Definitions of Free Cash Flow
  5. IFRS vs US GAAP – Classification of Interest and Dividends

Module 5 – The Capitalisation Decision

  1. Implications of Capitalizing vs Expensing on Financial Statements and Ratios
  2. Capitalization of Long-Term Tangible and Intangible Assets (including Goodwill)
  3. Basic Methods of Depreciation and Amortisation, and Implications
  4. Understanding the Asset Revaluation Model and Accounting for Investment Property
  5. Calculating the Impairment of Long-Term Assets

Module 6 – Accounting for Deferred Taxes

  1. Introducing Statutory Tax Rate, Effective Tax Rate and Adjusted (Cash) Tax Rate
  2. Computing Taxable Income, Accounting Profit, and Income Taxes Payable
  3. Describing how Deferred Tax Assets and Liabilities are created
  4. Temporary Differences vs Permanent Differences
  5. Key Income Tax Differences – IFRS vs US GAAP

Module 7 – Concepts Integration and Review

  1. Talking Point – Do Financial Statements Report the Truth, the Whole Truth, and Nothing but the Truth?
  2. Practical Applications and Case Studies – Using the “21-Step Approach” to Review Selected Companies Financial Statements
  3. Recap with a Fun Quiz and Game Show – “Who Wants to be a Finance Genius?”

Why Attend this Workshop? Why this One?
The answer is communication. This workshop will help you better understand the language of finance.

The trainer is a highly experienced practitioner and instructor and is well-regarded for his ability to translate complex financial concepts into plain language, and the use of illustrations, examples and real life experiences to help develop/enhance your understanding of finance and accounting.

The trainer is able to draw on his full depth of knowledge about accounting, creativity and experience to develop compelling and enjoyable programs.

Training Methodology

Workshop style - Story-telling, Fun Facts, Short Case Examples, Real Life Illustrations, ‘Think Tank Time’, ‘Talk to Your Neighbour’, “It’s Movie Time” with pre- and post-screening activities, and plenty of team activities such as end-of-day quiz questions (Who Wants to be a Finance Genius) which will help reinforce the learning concepts and outcomes.

Closing Date for Registration1 week before program or until full enrolment

Intended For

An Intermediate Level programme intended for professionals who wish to expand and enhance their knowledge, skills and abilities to effectively and efficiently analyse and interpret a company’s financial statements. This programme is also suitable for those who wish to achieve a deeper qualitative understanding on how the Financial Reporting Standards (FRSs) interplay in the key financial statements.

Competency Mapping

Category 1 = 14.00 Hours

Programme Facilitator(s)

Sarjit Singh
FCA (Singapore), FCA (Australia)

Chairman, Kreston Ardent CAtrust PAC

Sarjit is the Executive Chairman of Ardent Associates LLP, a firm of Chartered Accountants and the winner of the Best Practice Award at the Singapore Accountancy Awards in 2016. Ardent is a member firm of Kreston International.

Sarjit leads the Risk and Governance practice at Ardent. He has an extensive experience in a broad range of assurance and advisory services including statutory audits, corporate governance, risk assurance, internal audit, financial due diligence and regulatory advice.

Sarjit has over 25 years of multinational experience including 16 years with PricewaterhouseCoopers (PwC) where he led the audit and advisory engagements of various multinationals, public listed companies and financial institutions.

Prior to Ardent, Sarjit was the CFO of AIA Singapore and Aviva Asia. He was responsible for formulating and implementing the financial, investment and commercial strategies for AIA Singapore and Aviva's diverse businesses in Singapore, Hong Kong and the Asia Pacific region respectively.

Sarjit has served on various Singapore government-appointed committees, including the Committee on the Future Economy (CFE), Working Group on Legal and Accounting Services and the Central Provident Fund (CPF) Life Committee.

Sarjit is presently serving as the Chairman of the Singapore Accountancy Commission’s Chartered Accountancy Learning and Assessment Committee – Foundation Programme. He is also a member of the Board of Education and Examiners at the Institute of Singapore Chartered Accountants.

Sarjit was conferred the Public Service Star (BBM) in 2011, the Public Service Medal (PBM) in 2007, the ‘Nanyang Alumni Achievement Award’ in 2012, and the SG50 community accolade in 2015 in recognition of his professional achievements and contributions to the nation.
 

Upcoming Schedule

Registration is closed

Date & Time

07 Nov 2019 (9:00 AM - 5:00 PM)
08 Nov 2019 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 620.60
For Non-Members: $ 736.16

Programme Facilitator(s)

Sarjit Singh

Venue

60 Cecil Street
ISCA House
Singapore 049709