Understanding Company Accounts - Beginners

    Examine the accounting procedures. 
    Study the notes. 
    Talk to people in the same business. 

    Room B307B, City University London, Northampton Square, EC1V 0HB
    16 March 2013 - 17 March 2013

    With Raj Bairoliya, UK's leading forensic accountant

    Cost for each two-day course:
    Full price: £300
    NUJ member: £225
    Book for both beginners and advanced courses for a £100 discount of the total fees (full: £500, NUJ: £350).

    Please note: These courses are built on the principles of managment schools and requires a minimum number of delegates for it to work as attendees are split into groups to analyse case studies.  The courses are for practising journalists or NGO researchers only. Acceptance on the course is at the trainers discretion, if you have any doubts as to your eligibility please contact us.

    Course Outline

    This two-day intensive course will show you how to understand company accounts and get beyond the corporate PR spin. The emphasis will be on teaching practical skills rather than a series of lectures. The objective of this course is to ensure that all participants feel comfortable with a set of accounts and know where and how to look for relevant information.

    The only pre-requisites for this course are numeracy and an interest in financial matters as the theory will be taught on the first day and applied to real life examples on the second day.

     

    Venue details
    Room B307B (Level 3B - 3rd floor), City University London,
    Northampton Square, London, EC1V 0HB.
    Please use the main Northampton Square entrance.
     
    Day One
    The first day will cover the theory and explain how to understand the profit and loss, balance sheet and cash flow statements plus those all important accounting policies such as revenue recognition – the key to unpicking many suspect accounts – and which notes to the accounts to focus on and why.
     

    09.30-10.30 Motivation to massage earnings.
    10.30-11.15 Profit and loss account

    Coffee break: 10-15 mins

    11.30-12.30 Balance sheet
    12.30-13.30 Funds flow statement

    Lunch: 1 hour

    14.30-15.30 Notes

    Coffee break 10-15 mins

    15.45-17.00 Putting it all together, Interactive session building up a sample set of accounts or case study questions
    17.00-17.30 Questions

    Day Two
    A simulated profit and loss account will be used to show the interaction between this and the balance sheet. The second day will give the opportunity to apply the knowledge from the first day to three - four case studies, where participants will work in small teams and identify pertinent issues. There will be plenty of opportunity for questions and discussion. The case studies will be sent out to participants shortly before the course.
    9.30-10.00 Coffee
     
    10.00-11.15 Case Study 1
     
    Coffee break 10-15 mins
     
    11.30-13.00 Case Study 2
     
    Lunch: 1 hour 
     
    14.00-15.15 Case Study 3
     
    Coffee break 10-15 mins
     
    15.30-17.00 Case Study 4

     

    Further Reading
    Financial Shenanigans: How To Detect Accounting Gimmicks and Fraud In Financial Reporters (Howard M. Schilit and Jeremy Perler)
    Quality of Earnings: The Investor's Guide to How Much a Company Is Really Making (Thornton L. O'Glove)
    Principles of Fraud Examination, 3rd edition (Joseph T. Wells)
    Forensic Analytics: Methods and Techniques for Forensic Accounting Investigations (Mark J. Nigrini). This book focuses on using MS Excel and Access in a forensic setting.

    The Art of Short Selling (Kathryn F. Staley) together with David Einhorn’s book on Allied Capital are a good accompaniment to Quality of Earnings.