CFA LEVEL I- Financial Reporting and Analysis
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  • CFA LEVEL I- Financial Reporting and Analysis

Online Course

 

Basic Info           : Financial Reporting and Analysis Level                   : CFA LEVEL 1 Commitment     : 24 hour (12 sessions of 2 hours each) Language           : English Schedule Date:

What Will I Learn

When you are done with this course, you will be able to:

  • Examines the financial reporting quality differences that may exist between companies and identify warning signs of poor or low quality reporting are covered.
  • Evaluate common adjustments to reported financials to facilitate cross company comparisons.
  • Determine how the 3 financial statements relate to each other, which will simply the complexities of the subject.
  • Understanding financial accounting is a fundamental skill for financial analysts. This course will not only benefit you for the CFA exam but also will add value to your career.
  • Gain the perspective of a Financial Analyst rather than an accountant or auditor.

Curriculum

Session 1

  • Financial Statement Analysis- An Introduction
  •   • The roles of financial reporting, financial statement analysis, statement of financial position, comprehensive income, statement of change in equity, statement of cash flow in evaluating a company’s performance and financial position
  •   • Importance of financial statement notes and supplementary information
  •   • Objective of audits of financial statements, the types of audit reports and the importance of effective internal controls
  •   • Information sources that analyst use in financial statement analysis
  •   • Steps in financial analysis statement framework
  • (Including Quality Of Earnings, Cash Flow, And Balance Sheet Items)

Session 2

  • Financial Reporting Standards
  •   • Objective of financial statement and importance, roles and attributes of financial reporting standards
  •   • Global convergence of accounting standards and ongoing barriers to accepting a universal set of financial reporting standards
  •   • Conceptual framework of International Accounting Standards including aspects of financial statement
  •   • General requirements for financial statements under International Financial Reporting Standards (IFRS)
  •   • US generally accepted accounting principles (US GAAP) reporting systems
  •   • Implications for financial analysis of differing financial reporting systems
  •   • Company disclosures of significant accounting policies

Session 3

  • Understanding Income Statements
  •   •Components of the income statements and alternative presentation formats of that statement
  •   •General principle of revenue recognition and accrual accounting, specific revenue recognition applications and implications of revenue recognition principles for financial analysis
  •   •Calculation of revenue
  •   • Accounting standards for revenue recognition issued by the International Accounting Standards Board and Financial Accounting Standards Board in May 2014
  •   • Expense Recognition
  •   • Financial reporting treatment and analysis of non-recurring items and changes in accounting policies
  •   • Operating and Non-operating components of the income statement
  •   • Calculation of earnings per share and interpret a company’s earnings per share (basic and diluted)for simple and complex capital structures
  •   • Dilutive and antidilutive securities and their implications of each for earnings per share calculation
  •   • Conversion of income statements to common size statements
  •   • Comprehensive income

Session 4

  • Understanding Balance Sheets
  •   • Elements of balance sheet
  •   • Uses and limitations of balance sheet in financial analysis
  •   • Alternative formats of balance sheet representation
  •   • Current and Non-Current- Assets and Liabilities
  •   • Types of assets and liabilities and measurement bases of each
  •   • Components of shareholders’ equity
  •   • Conversion of balance sheet to common size balance sheet
  •   • Liquidity and solvency ratios

Session 5

  • Understanding Cash Flow Statements
  •   • Compare cash flows from operating, investing and financing activities
  •   • How are non-cash investing and financing activities reported
  •   • Contrast cash flow statements prepared under International Financial Reporting Standards (IFRS) and US generally accepted accounting principles (US GAAP)
  •   • Direct and indirect methods of presenting cash from operating activities and arguments in favor of each method
  •   • How is the cash flow statement linked to the income statement and balance sheet
  •   • Conversion of cash flow from indirect to direct method
  •   • Free cash flow

Session 6

  • Financial Analysis Technique
  •   • Tools and techniques used in financial analysis, including their uses and limitations
  •   • Classify, calculate and interpret activity, liquidity, solvency, profitability and valuation ratios
  •   • DuPont analysis of return on equity
  •   • Ratios used in equity analysis and credit analysis
  •   • Segment reporting and segment ratios
  •   • How ratio analysis and other techniques can be used to model and forecast earnings

Session 7

  • Inventories
  •   • Cost included in inventories and cost recognized as expenses in the period in which they are incurred
  •   • Inventory valuation methods (cost formulae)
  •   • Calculate and compare cost of sales, gross profit and ending inventory using different inventory valuation methods and using perpetual and periodic inventory systems
  •   • How inflation and deflation of inventory costs affect financial statements and ratios of companies that use different inventory valuation methods
  •   • LIFO reserve and liquidation and their effects on financial statements
  •   • Conversion of LIFO to FIFO for comparison
  •   • Net realisable value
  •   • The financial statement presentation of disclosures relating to inventories and why should analysts consider examining a company’s inventory disclosure
  •   • Calculate and compare ratios of companies, and analyze the financial statements of companies, including different inventory methods used

Session 8

  • Long-Lived Assets
  •   •Costs that are capitalized and costs that are expensed in the period in which They are incurred
  •  • Compare the financial reporting of the following types of tangible assets: purchased, internally developed, acquired in a business combination
  •  • Capitalizing versus expensing costs
  •  • Depreciation methods and calculation of depreciation expense
  •  • Amortisation methods for intangible assets with finite lives
  •  • Calculation of amortisation expense
  •  • Revaluation model
  •  • Impairment of tangible and intangible assets
  •  • Derecognition of tangible and intangible assets
  •  • Evaluate how impairment, revaluation, derecognition of tangible and intangible assets affect financial statements and ratios and describe the financial statement presentation and disclosure
  •  • Compare the financial reporting of investment property with tangible assets
  •  • How leasing rather than purchasing assets affects financial statements and ratios
  •  • How finance and operating leases affect financial statements and ratios from the perspective of lessor and lessee

Session 9

  • Income Taxes
  •  • Difference between accounting profit and taxable income
  •  • How are deferred tax liabilities and assets created and how they should be treated for financial analysis
  •  • Calculation of tax base of assets and liabilities
  •  • Calculate income tax expense, income tax payable, deferred tax assets, deferred tax liabilities and interpret the adjustment to the financial statements related to a change in the income tax rate
  •  • Effect of tax rate changes on a company’s financial statement and ratios
  •  • Recognition and measurement of current and deferred tax items
  •  • Key provisions of and differences between income tax accounting under International Financial Reporting Standards (IFRS) and US generally accepted accounting principles (US GAAP)

Session 10

  • Non-Current (Long- Term) Liabilities
  •  • Determine the initial recognition, initial measurement and subsequent measurement of bonds
  •  • Calculate interest expense, amortization of bond discounts/premiums and interest payments
  •  • Derecognition of debts
  •  • Disclosure relating to finance and operating leases
  •  • How finance and operating leases affect financial statements and ratios from the perspective of lessor and lessee
  •  • Leverage and coverage ratios

Session 11

  • Financial Reporting Quality
  •  • Distinguish between financial reporting quality and quality of reported results
  •  • Spectrum for assessing financial reporting quality
  •  • Conservative and aggressive accounting
  •  • Causes of issuing financial reports that are not high quality
  •  • Mechanisms that discipline financial reporting quality and potential limitations of those mechanisms
  •  • Presentation and accounting choices including non-GAAP measures used to influence analyst’s choices
  •  • Methods for detecting manipulation of information

Session 12

  • Financial Statement Analysis- Applications
  •  • Evaluate a company’s past financial performance
  •  • Forecast a company’s future net income and cash flow
  •  • Role of financial statement analysis in assessing the credit quality of a potential debt investment
  •  • The use of financial statement analysis in screening for potential equity investments
  •  • Explain appropriate analyst adjustments to a company’s financial statement to facilitate comparison with another company

Includes

Interactive Sessions

Session-specific Assignments(* Condition Apply)

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