INTRODUCTION TO FINANCIAL STATEMENTS FOR DIRECTORS

Introduction to Financial Statements for Directors will familiarise you with financial statements, showing you how to read them, interpret them and fulfil your statutory duties as a director

Basic financial literacy is a skill all directors must have. This half day Directors Essentials course will provide you with a director-oriented introduction to the understanding of financial statements. It is regularly scheduled together with Assessing Company Performance for Directors providing 2 Directors Essentials courses in one day!

Many businesses start out as a family business and grow to be more complex structures. The ability to interpret financial statements as a director and not rely just on the advice of your accountant is an essential skill in meeting your statutory obligations as a director and managing the financial health of your organisation.  Introduction to Financial Statements for Directors establishes a basic understanding of a company's financial statements and will allow the participant to meet this essential knowledge and skill requirement as a professional director.

Benefits
At the end of the program participants will be able to:

• Understand the major elements of the financial statements
• Understand the linkages between the financial statements
• Identify a director's duties with regard to a company's financial statements and financial reports

Program

• Introduction to Financial Statements
• Accounting conventions and standards
• Two case studies designed to cover the fundamentals of the content and meaning of financial statements
• Not-for-profit companies
• Goodwill
• Directors duties regarding financial statements

Mode of Study
Flexible workshops.

Refer to Assessing Company Performance for Directors  to view the corresponding half day format for Financial Programs for New Directors.

Recommended Reading
Financial Statements Demystified

To find out more please contact your AICD state office.