Understanding the balance sheet 2020
To explain the different components and structure of the balance sheet to participants as well as discuss the interpretation thereof.
What you will learn
By the end of this event the participant will:
- Understand the purpose of a Balance Sheet;
- Understand how to correctly compile a Balance Sheet;
- Know the reporting standards to adhere to during compilation;
- Understand how the Balance Sheet fits into the AFS; and
- Understand how to calculate, use and interpret Balance Sheet ratios.
The Balance Sheet – Statement of Financial Position.
Structure of the Balance Sheet
Preparing a Balance Sheet.
Relevant reporting standards.
Interdependency with other financial reports.
Financial ratios – calculation, use and interpretation.
Who should attend
The following persons will benefit from attending this webinar:
- Professional Accountants including: CA(SA),PA(SA) and BAP(SA);
- Accounting officers; and
- Accounting department staff.
The Balance Sheet, now aptly referred to as the Statement of Financial Position, is a business report upon which many financial decisions are made. Investors, shareholders, lenders, internal management, government agencies and creditors are some of the users who all depend on what is reported on the face of the Balance Sheet. Users depend on what is reported to check the solvency and financial activity of the reporting entity, among other reasons.
The importance of correct and accurate compilation and disclosure of items that are presented on the Balance Sheet is very clear. International Financial Reporting Standards (IFRS) lay down specific requirements that must be adhered to by compilers of not only the Balance Sheet but annual financial statements which the Balance Sheet is an integral part of. Furthermore, reported items on the Balance Sheet are used to provide SARS and CIPC with information they require regularly from South African businesses.
It is in view of this that we are presenting a webinar focusing on the Balance Sheet. Join Russel Ngobeni BAP(SA) as he explains everything that has to do with the Balance Sheet, from its structure, correct compilation, correct valuation of amounts as well as analysis of reported amounts to aid the giving of good advice to clients.
THIS WEBINAR RECORDING WILL BE AVAILABLE FROM 24 MARCH 2020
Russel is a registered Business Accountant in Practice through the Southern Institute for Business Accountants (SAIBA), and a registered Tax practitioner through the South African Institute of Tax Practitioners (SAIT). He holds a Bachelor of Accounting Science degree from the University of South Africa and a National Diploma in Financial Information Systems from Tshwane University of Technology.