DFF - Director Financial Reporting Fundamentals

Course Description This course is designed for directors who do not have a financial or accounting background, particularly directors of larger companies. It provides directors with essential accounting knowledge and practical tips, and equips them with the key tools and concepts to review company financial statements.

Through case studies and related discussions on situations involving financial and accounting matters, participants will learn what questions to ask, what to watch out for as a director and why they should be looking at these areas.
Course Objectives
  1. Understand directors’ duties in respect of company financial reporting obligations and internal controls.
  2. Understand the importance of asking relevant and probing questions in relation to financial statements.
  3. Enhance directors’ effectiveness when reviewing financial statements prepared by management.
Course Outline
  1. Directors’ duty in preparing true and fair financial statements.
  2. Directors’ duty in implementing internal controls.
  3. Key focus areas when reviewing financial statements.
    • Financial statements prepared on a going concern basis.
    • Presentation of Statement of Financial Position.
    • Revenue – timing of recognising revenue.
    • Fictitious revenue and prepayment.
    • Impairment of assets and judgemental estimates.
    • Provision – liabilities of uncertain nature.
    • Disclosure in the note – credit risk, fair value measurement.
    • Investment in other companies’ equities.
    • Presentation of Statement of Cash Flow.
    • Common accounting mistakes.
Case Studies: Recent and relevant cases will be used to illustrate the various topics shared.
Level Fundamentals.
Target Audience
Aspiring and current directors without a financial background.
Course Duration 1 day (lunch provided).
Delivery Classroom lecture, discussion and Q&A.
Cost SID Member : $577 (excl. GST); $617.39 (incl. GST).          
Non-SID Member : $635 (excl. GST); $679.45 (incl. GST).
CPD Hours 7 hours.

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