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Tuesday, 7 December 2010

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Seminar on financial reporting

“Financial reporting in compliance with accounting standards,” a seminar to provide information on the financial position, performance, and changes of an entity, that is useful to a wider range of users, in making economic decisions, has been organized by the Skills Development Fund Ltd, which is a fully Government owned company functioning under the Youth Affairs and Skills Development Ministry.

This seminar will be held on December 11 at the Ministry Auditorium.

The resource person is Finance and Planning Ministry, Financial Studies Academy, Financial Consultant V Kanagasabapathy. Kanagasabapathy is a renowned financier who has been attached to the Treasury Secretariat for many years.

This is a topic in focus today which will enable those who are in this field, to get a clear view of Financial Reporting , to understand the requirements of the new Companies Act No 7 of 2007, and to equip with the ability and knowledge , to identify useful information concerning, Accounting and Auditing standards Act No 15 of 1005 and SLAS standards -3 in presentation of Financial statements and SLAS 9 in Cash Flow statements.

The seminar will be conducted with lectures and there onwards sharing the views in the form of an interactive session with the participants.

The prime objective of the seminar is to raise awareness amongst financiers about their liabilities and responsibilities regarding the financial acts.

A financial statement should reflect a firm and fair view of the business affairs of the organization.

These insights will equip them with successful streamlining and aligning their respective operations, with the new act.

Accountants in the Public and Private sectors and Financial Institutions, Corporate Managers, Business Executives, Loan officers in lending institutions and Senior Company Auditors are the target group for this seminar since it will seek to clarify how the new law works and defines its boundaries.

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