A155 : Financial Reporting for Listed Companies (IFRS-Identical FRSs: Equivalent of IAS 1, IAS 33, IAS 34 & IFRS 8)

Introduction
Presenting a set of financial statements for a company listed in stock exchange is inherently complex and risky.

Preparers are required to exercise considerable professional judgement in deciding the quantitative and qualitative information needed to provide fair presentation for the users of financial statements.

This seminar selected four SFRS(I)s that frequently used by listed companies in presenting annual financial statements and interim financial statements.
 
Programme Objective

The seminar analyses the technical requirements in each of the four main areas of financial reporting for listed companies:

• Presenting and disclosure for annual financial statements

• Presentation and disclosure for interim financial reports

• Presentation and disclosure of earning per shares

• Identifying and disclosing operating segments

The seminar explains how to compute the necessary financial information in accordance with the relevant SFRS(I)s and to present such information in the most effective manner.
 

Programme Outline

1) Mastering the fundamental technical skills of presenting financial statements

• Technical considerations:

  • Offset of assets and liabilities, income and expense

  • Aggregations and materiality consideration

  • How to present notes and explanatory information in a systematic manner

• Choosing format and contents for main statements 

  • Understanding users’ perception on information presented

  • Choosing the appropriate format for profit or loss and other comprehensive income (OCI)

  • Choosing the format for statements of financial position

 
2) Measurement basis and processes to determine basic earnings per share and diluted earnings per share and prescribes the specific disclosure and presentation requirements relating to these measures.

• Determination of earnings and weighted averaged number of shares for

  • Basic earnings per share and Diluted earnings per share

  • Retrospective adjustments

 
3) Measurement, recognition and presentation requirements relating to interim financial statements.

• Form and content of an interim financial report

  • Minimum components and selected explanatory notes

  • Compliance with FRS

• Recognition and measurement

  • Materiality consideration

  • Accounting policies

  • Uneven trends for revenues and costs

  • Use of estimates

 
4) Understanding of the principles of identifying operating segments and determining reportable segments in financial statements

• Scope and objective

• Identifying operating segments

• Determining reportable segments

  • Quantitative threshold and aggregation criteria

• Disclosure

  • General information

  • Information about profit or loss, assets and liabilities

  • Recognition of information to financial statements

• Entity-wide disclosures

  • Information about products and services

  • Information about geographical areas

  • Information about major customers

 
Training Methodology

Lecture style, with practical illustrations, technical flow-charts, conceptual “mind maps” and interactive discussions.
 

Intended For

This programmed is suitable for all Finance Professionals, Audit Professionals, Members of Audit Committee, Finance Directors and Regulators.

Those who are keen on attending a practical course that can comprehensively cover and/or provide a refresher of the principles of IFRS-Identical FRSs that affect presentation and disclosure of financial statements of a listed company, as well as a discussion on the potential changes and updates on the current Generally Accepted Accounting Practice are welcome to attend.