INTERPRETATION OF FINANCIAL STATEMENTS
The overall aim of the training is to enable trainees to understand and to interpret the financial statements produced by organisations for external users. The trainees develop an understanding of the regulatory framework in which these statements are prepared and of the principles and methods which underlie their preparation.
On completion of this training participants should be able to:
- describe the role and function of external financial reports and identify their users and the regulatory framework in which they are prepared
- explain the accounting concepts and conventions present in generally accepted accounting practice
- explain, supported by simple computations, the presentation, measurement and meaning of the primary financial statements and their contents
- describe the informational role of the constituent parts of a corporate annual report usually presented in addition to the primary financial statements
- compute, interpret and appraise financial performance, financial position and adaptability as revealed by financial statement analysis, particularly by the use of financial and accounting ratios.
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