For individuals new to the financial markets with a basic understanding of accounting and valuation, or more experienced analysts wishing to go into more detail
At the end of the course, you will
– Understand the environment in which annual reports are published and the relationship to other company announcements
– Understand the subjective nature of the numbers and data provided
– Understand how the different statements each give insight
– Be able to review for governance red flags
– Be able to identify inherently risky aspects of reporting
– Follow a process that draws out the maximum insight from an annual report
The Environment of the Annual Report
– Annual reports’ relationship to company announcement cycle
– C-suite, IR, auditors, press, analysts, shareholders, government, and their motivations
– The unique status of the annual report and the role of the auditor & the audit expectation gap
The Subjective nature of annual report numbers and data
– understanding the level of discretion within accounting standards and policies
– Big Questions: legitimate discretion, technicalities with big consequences or outright fraud?
Is Cash Really King?
Differentiating and Analysing the Statements
– Poor governance leads to poor performance
– Using third party Governance and ESG reports
Inherently Risky Topics for Independent Analysis
– Identifying situations where accounting is inherently more subjective e.g.
– Project accounting, M&A & consolidations, Tier 1-3 valuations, extractive industries
– Negative NWC, provisions, debt covenants, pension liabilities
The Step-by-step guide to a set of accounts ( Case study)
– Methodology for Assets & Liabilities (current and non-current)
– Summarising findings and handling Clarifications
– Forming an Opinion
We are thought leaders in instructional and learning journey design and holistic solution architects.
We have extensive finance and investments experience combined with skills application to deliver performance improving results.
We develop immersive learning environments that maximize time to productivity, support talent retention and added value to improving quality of hires.
We are focused on mining the embedded organisational intellectual capital for the benefit of the next generation.
We create and curate best in class practice gathered from our experience with the leading financial institutions.
We design our programmes with the end in mind – what results are you trying to achieve with this intervention? What metrics will we set ourselves to achieve that?
Quality and innovation, using current market and industry best practices, have made us a trusted partner in delivering dynamic and motivating training for the financial and capital markets.
Our programmes are generation proof and responsive to evolving learner needs and styles.
Our solutions use a multi-stakeholder engagement strategy that expands beyond relationships between the learner and learning provider. We create connections with managers, peers and the wider business to drive impactful return on investment..
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The team are so friendly and pleasant to work with, everyone is very professional and keen to help us. Building a relationship over the past couple of years helps us to feel like the Alpha team are even more able to understand our needs and provide more proactive solutions.