Understanding Financial Statements

Understanding Financial Statements is a one-day workshop that will develop and enhance your skills in reading and interpreting financial statements of a range of private and public sector entities utilising the Sunshine Department model financial statements.

The workshop combines class discussions with practical exercise, giving you the opportunity to apply the techniques you learn in a real-life context. The material is presented in an easy-to-understand manner and contextualised for the public sector.

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.



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

Continuing professional development

Completion of QTC Education Program workshops may be recognised for the purpose of continuing professional development hours for members of the Australian Institute of Company Directors (AICD), CPA Australia, Chartered Accountants Australia and New Zealand (CA), Financial Services Institute of Australasia (FINSIA), Governance Institute of Australia, and other professional bodies and associations.

Upcoming workshops

There are currently no scheduled workshops. Notify me when open

If you cannot find a day and  time that suits, subscribe to the newsletter for alerts on upcoming workshops and online webinars. Alternatively, contact the QTC Education Program team on 1800 974 551 or email qtceducation@uq.edu.au to discuss your requirements.

"I undertook two workshops through QTC's education services through a graduate training program. Of the many types of training we received in the program, myself and my cohort found the QTC workshops to be among the most valuable."

Grace Willems

Advisor, Transport Policy Branch, Department of Transport and Main Roads