Understanding Financial Statements

Topics covered

• Regulatory framework and financial reporting
• Regulatory framework for public sector financial reporting
• Principles and assumptions underpinning financial accounting and reporting
• Financial and risk management objectives
• Fit-for-purpose financial and risk policies
• Understanding the accounting process: the accounting equation, transaction analysis and accrual accounting
• Identification of the elements of accounting; income, expenses, assets, liability and equity
• Understanding financial statements: accounting, presentation and valuation issues
• Accounting for special public sector non-current asset; recognition, revaluation and impairment
• Leasing
• Related Party Disclosures.

Who should attend?

The workshop is designed to assist board members, chief executive officers, finance and treasury managers, and staff responsible for financial and/or credit analysis. No prior knowledge of the topics is assumed; participants with prior experience may find the course useful to refresh and extend their knowledge.

The QTC Education Program is only available to Queensland Public Sector Employees (this includes employees of the Queensland Government, Queensland government departments, local governments, statutory corporations, and other entities to the extent they have an association or are related to the State of Queensland) and QTC employees. By registering for a workshop or webinar, you acknowledge that you are a Queensland Public Sector Employee. QTC/UQ reserves the right to unenroll any person that is not a Queensland Public Sector Employee or QTC employee from any workshop or webinar in the Education Program. If you are unenrolled from a workshop or webinar you will be entitled to receive a full refund of any workshop fees paid.

Outcomes

At the completion of the workshop, participants will be able to understand:

• the regulatory framework and principles underpinning financial statements
• the content of financial statements published by entities in their annual reports
• the interrelated components of financial statements
• critical accounting, presentation and valuation issues for a range of assets and liabilities.

Practical exercises

Working individually or in small teams, participants will apply knowledge and techniques covered in the course to successfully understand and interpret an organisation’s financial statements. Participants will also work on tasks and case studies that build their understanding of the financial statements and key aspects of corporate financial management.

Download workshop brochure