Course Outline

Day One

Nature and Objectives of External Financial Reporting

• The objective of financial reporting
• The regulatory environment
• Strategic role of financial information

Where Has The Profession Gone Astray?

• A look at the recent disasters
• Its short term ramifications and reactions
• Its long term implications

Reporting Mechanisms and the Operation of the Financial Markets

• Types of reports
• Relationship between the major financial statements
• The annual report – a more detailed analysis
• Manipulation of accounting reports – creative accounting
• Overview of the financial markets

Day Two

New Developments in Financial Reporting

• Triple bottom line reporting
• Why is it used and what is the use of stakeholders?

The Changing International Scene in Financial Reporting

• The introduction of the international accounting standards
• What is the impact geographically throughout the world

Recent Changes to the International Standards

• An update on the introduction of new standards
• What are the recent changes to the standards?
• What impact are they going to have on the profession?

Day Three

Cash Flow Statement, Cash Management and Working Capital

• Structure and purpose of the cash flow statement
• Liquidity and solvency issues
• Effective cash management
• Optimising the investment in working capital
• New emphases on cash e.g. free cash flow

Financial Statement Analysis

This session looks at the methods that are used for measuring financial performance of companies. It looks at the traditional measures of analysis and then extends the analysis to include issues such as:

• Measuring cash flow
• Risk analysis
• Common size financial statements
• Horizontal analysis
• Trend analysis
• Ratio analysis

Day Four

Alternative Ways of Assessing Company Performance and Viability of Emerging Markets

• Different methods of predicting corporate failure, including the Altman Z Score and Argenti models
• Use of Free Cash Flow as a measure of corporate efficiency
• Looking at sustainability of organisations to maintain their growth

Business Valuation

• A look at valuation approach and methodology
• Why value a company?
• What methods are used?

Day Five

Measuring and Managing Intellectual Capital and Intangible Assets

• Sunrise in the new economy – a look at value shift
• Identifying intangible assets/intellectual capital
• The valuation proposition – why valuation is important
• Capital market effects of valuation
• Approaches to valuation
• Evidence in practice – companies that are measuring and reporting intellectual capital – how, why and the benefits conferred

MFC Examination*

* Only those who successfully pass the exam will receive the designation Certified Master Financial Controller

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