Statement of Cash Flows: A Practical Perspective

This course can be delivered to your organisation as part of our bespoke Corporate Training Solutions, at your own time and your own convenience. Contact us on kla@kpmg.com.mt or call us on +356 2563 6363 or on +356 9963 6363 for more information on how we can take care of your organisation’s training needs.

Course Description:

The statement of cash flows is also a crucial planning tool for any business’s long term success and it portrays a comprehensive view of the sources through which cash flowed into the entity and how cash was utilized. The statement serves as a source for a number of key performance indicators which are often overlooked and is a key tool in making future projections and identifying any future funding needs. Even the most profitable companies at times face liquidity issues which become most apparent to stakeholders through the statement of cash flows.

The interactive session will begin by briskly highlighting some of the key concepts and disclosure requirements as set out by IAS 7 – Statement of cash flows and includes some practical examples demonstrating the concepts explained. A practical demonstration will follow, presenting a working model used to prepare the statement of cash flows under the indirect method. The session will include a number of issues and scenarios commonly met in practice.

Target Audience:

The session is best suited for professionals working within an accounting function preparing financial statements for entities adopting the International Financial Reporting Standards (IFRS) framework and for Medium-sized entities reporting in line with the General Accounting Principles for Small and Medium-Sized Entities (GAPSME) where the preparation of a statement of cash flows is mandatory. It is also suitable for recent graduates and university students who are interested in putting theory into practice by learning a practical excel model used to prepare the statement of cash flows.

Learning Outcomes:

By the end of the session participants would be knowledgeable of key concepts and principles set out by IAS 7 – Statement of cash flows. The participant would also gain insight on tackling certain contentious issues commonly met in practice and become conversant with a practical excel-based model which facilitates and expedites the preparation of the statement of cash flows.

Pre-Requisites:

Some basic knowledge or experience on the preparation of statement of cash flows is recommended.

Venue: Kindly contact us on kla@kpmg.com.mt to indicate your preferred training method; online or in-person.

CPE Hours: This course qualifies for 2.5 hours of Structured CPE which can be classified as Core Competency. A certificate of attendance will be provided at the end of each session.

Trainers:

Eric Padovani, Director, Corporate Accounting Advisory Services, KPMG in Malta

Eric Padovani

Eric joined the corporate accounting department of KPMG during 2008 upon graduation from his Bachelor of Commerce Management (Hons) degree from the University of Malta. Since joining the firm, Eric has progressed within the aforementioned department and now plays a key role in leading a sizeable team of over 30 accountants providing an array of outsourced corporate accounting services and VAT compliance solutions to their clients. Service offerings include book-keeping and assistance with the preparation of financial statements under both the local GAPSME framework and the IFRS Framework, secondment of accounting staff, accounting advice, preparation of consolidated financial statements, preparation of interim compilation reports and VAT compliance services. He has experience in servicing both local and foreign clients across various industries which include companies engaged in Aircraft leasing, software development, professional services, international trading of goods, intellectual property development, financial services, telecommunication services and holding companies. On several occasions, Eric also delivered various technical presentations both within KPMG and through professional training institutions such as the Malta Institute of Accountants and Society Education. Areas covered included the local GAPSME accounting framework, statement of cash flows and accounting for certain assets under the IFRS framework.

Maria Attard Filletti, Associate Director, Corporate Accounting Avisory Services, KPMG in Malta

Maria Attard Filletti

Maria joined the corporate accounting team at KPMG Malta on a full-time basis in 2014. Over the years, she continued to grow and expand her knowledge, amassing a vast portfolio of local and international clients. She has assisted with the bookkeeping and the preparation of statutory financial statements of various clients across diverse industries such as financial services, gaming, shipping, property investment, professional services, pharmaceuticals and holding companies. Maria is proficient in applying both the local default accounting framework GAPSME as well as IFRSs as adopted by the EU. She has also assisted clients with the restatement of financial statements from foreign GAAP to GAPSME or IFRS, as the case may be, either as a result of redomiciliation to Malta or for consolidation purposes. She has worked hand in hand with professional advisors in order to devise and implement various restructuring plans put forward by clients. Over the years, she has worked on different types of accounting software, always seeking to use that which best suits the client. She helped clients to implement and ease into new accounting systems whilst making sure that the transition process runs as smoothly as possible. Apart from accounting related support services, Maria also offers advice on VAT related issues and assists clients with their VAT compliance obligations. Occasionally, Maria delivers technical training on VAT and accounting matters, both within KPMG and externally, to clients and with other learning institutions.