For many people ‘Financial Statements’ are nothing more than a bunch of meaningless figures and, trying to read and understand them is akin to trying to decipher hieroglyphics and far less fun. As lawyers acting as strategic advisors to our clients, however, it is essential that we understand our clients business affairs and that means learning how to interpret their financial statements is a ‘must’. We were therefore delighted when the Elias Neocleous Trust Company (the ‘Trust’)agreed to organise a first-of-its-kind inhouse seminar on “Understanding Financial Statements for beginners”.
Presented by Trust’s Chief Accountant, Ermos Christodoulou, the four hour course, “Understanding Financial Statements for Beginners” took place at our Limassol Headquarters on 8th March. The course was designed to acquaint the 20+ participants with the main components of a company’s Financial Statements and what they represent. Once this knowledge had been conveyed, Ermos then proceeded to explain, with real life examples, some fundamental financial analysis techniques and ratios. Finally, and perhaps most importantly of all he removed some of the mystery of how the results of this work might be interpreted in terms of the viability, liquidity and investment activity of some of the example accounts shown.
Our participants certainly left the room feeling far more enlightened about, and competent in, their reading of Financial Statements. They would highly recommend the course to anybody with a need to gain a better understanding of Financial Statements.
For more information, about “Understanding Financial Statements for Beginners please contact Ermos Christodoulou.
