Balance sheets, cash flows and ratios - what do they mean for the discerning investor?
The Annual Report and financial statements within provide so much data. This workshop will show you how to interpret the data in Annual Reports to help you with your investment decisions. Annual Report extracts from two companies and case studies will be used.
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By attending this workshop you will learn how to:
- Find key data about the companies you invest in
- Assess the key fundamentals of the business
- Only read the relevant sections of an Annual Report
- Interpret the financial statements
- Find anomalies in the financial statements
You will leave this workshop with a much greater confidence in assessing a company's financial statements to help you make better investment decisions.
Topics covered include:
- The Annual Report
Understand which sections of the report have greater importance; which executive summaries to read and why and what you can skip.
- Income Statements
Understand the difference between income and cash flow statements and why profit differs from cash flow. You will be shown how to spot the unusual and the importance of recognising impairments, abnormal items and more.
- Balance Sheets
How useful are these in assessing a company’s health? You will be shown not only what to look for but what balance sheets don’t reveal. You will gain a greater understanding of transactions relating to assets, goodwill and how it can distort a balance sheet, liabilities and shareholder equity.
Commonly quoted ratios such as return on equity (ROE), return on capital (ROC), earnings per share (EPS), debt to equity (D/E) and a host of others will be used to compare the fundamentals of two major companies. Can they be relied upon or can there be another side to the story?
- Statement of cash flows
Understand why the cash flow statement is the most important part of an annual report for investors. The difference between operating cash flows, investing cash flows and financial cash flows will be explained. Importantly, discussion will also include explanation of what the cash flow statement does not include, namely accruals, provisions or impairments.
- Mark Alison, Elders CEO (Adelaide)
- Tim Binks, Argo CFO (Adelaide)
- Mike Champion, ASA Member (Canberra)
- Michael Davery, ASA Company Monitor (Adelaide)
- Elio D'Amato, Lincoln Indicators (Melbourne)
- Diana D'Ambra, ASA Chairman (Sydney)
- David Fletcher, ASA Director (Sydney)
- Shaun Jeffrey, Ernst & Young (Canberra)
- Stefan Landherr, ASA Company Monitor (Adelaide)
- Mark O'Hare, Grant Thornton (Brisbane)
- John Price, Teaminvest Private (Brisbane & Sydney)
- Peter Rae, ASA VIC Education Officer (Melbourne)
- Mike Sewell, Market Gap Investments (Melbourne)
- Ken Wakeman, ASA Company Monitor (Adelaide)
- John Worthley, ASA Company Monitor (Adelaide)
|Members & their partners
Early bird price will expire 2 weeks prior to each event.
Registration fee includes lunch, morning and afternoon teas, and handouts. Presentations will be posted to the ASA website.
Please note, members will need to be logged into the website first to access the member rate. Non-members will firstly have to subscribe (for free) to register. Full programs for each location can be viewed by selecting REGISTER.
Thurs 16 Mar
Ainslie Football Club Function Centre
52 Wakefield Ave, Ainslie