The Financial Analysis section of the course will help participants understand and analyze the key components of financial statements – income statement / comprehensive income, balance sheet and statement of cash flows. It includes recognition and measurement of items in income statement / comprehensive income and balance sheet, review of disclosure notes and interpretation of financial statements using key ratios. The commonly used creative accounting techniques will be discussed to enable participants to evaluate the quality of financial reporting.

The second part of the course will start with an introduction to Corporate Valuation and key principles of fair value measurement. The different approaches to valuation of debt instruments will be explained including the pros and cons of each approach. The course also covers different approaches to equity valuation and looks at issues in relation to unlisted equity, application of discounted cash flow method and estimation of cost of debt and equity. Some of the difficulties of valuing companies in the current global economic conditions will be addressed. The course examines current valuation guidance and reviews the role of the International Valuation Standards Council, the IVSC.

The course is relevant to those performing valuations whatever the reason, such as tax, litigation, regulatory compliance, M&A and financial reporting.

Learning Objectives:

  • Apply the principles of recognition, measurement and presentation of income statement / comprehensive income and balance sheet items in IFRS
  • Analyze and interpret financial statements using key ratios
  • Learn the creative accounting techniques often used in financial statements and analyze its impact on quality of financial analysis
  • Apply the different approaches to value debt instruments and evaluate the pros and cons of each approach
  • Apply the key approaches to equity valuation and evaluate the issues in relation to unlisted equity, application of discounted cash flow method and estimation of cost of capital

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