Workshop : Creative Accounting and Financial Disclosures Training

Kamis - Jumat, 31 Januari - 1 Februari, 2008, pukul 09:00 - 16:30 WIB
Tempat : Ibis Slipi Hotel/Kartika Chandra Hotel/Harris Hotel, Jakarta

Workshop Description

Today's news is rift with case after case of mis-reporting of financial results. Many were a direct result of financial managers taking advantage of "loop holes" in today's accounting standards. In this you will review several significant cases of accounting irregularities that resulted in landmark changes in accounting standards. You will discuss the weakness in today's accounting standards and see how easy it is to manipulate figures. Using live case studies participants will develop forensic skills to determine where and why the figures don't add up. Every set of financial statements present its own unique set of "Red-Flags" in accounting crimes. You will learn how to review financial reports, identify such signals and recalculate the correct EPS.

Program Benefits

• Institute the best practices for an efficient accounts receivable department
• Learn to plan your strategy – different approaches for different situations
• Learn creative negotiating strategies – getting outside the box to find better solutions
• Protect the organization by understanding the legal consequences of collecting accounts receivable
• Learn how to format a cash-flow forecast to plan, monitor, and control the cash flows and the cash position of a company, maintaining its liquidity
• Learn how to improve a company’s security by reducing financial risks and achieving adequate liquidity

Outline

1. Overview of Creative Accounting Activities
   • Purpose of Financial Reporting
   • Key accounting principles and the foundation of Financial Reporting
   • The role of the FASB and the IASB
   • The drivers of financial fraud
   • Several key cases
2. The Current Safeguards in Today's Financial Reporting Structure
   • Nature and Purpose of Internal Controls
   • The Board of Directors and Audit Committees
3. The Red Flags of Financial Crime
   • How to tell if controls were circumvented
   • Key indicators of fraud committed for personal gain
   • Key indicators of fraud committed for corporate gain
   • Fraud Committed for Third-Party Gain
   • Fraud at the Brokerage level
4. Creative Accounting through the Development of False Financial Statements
   • Key indicators of misleading financial reports
   • Cash Flow vs. Income Statements
   • Peer Review and Benchmarking
5. Creative Accounting and Misuse of Corporate Resources
   • Financial Standards: Accounting for Assets
   • Commingling of cash
   • Personal use of corporate resources
   • Case Study
6. Creative Accounting through Third-Party Intervention
   • Nature and purpose of "Arm's Length" transactions
   • Corporate relationships with key customers
   • Corporate relationships with key suppliers
   • Corporate relationships with key investors and financiers
   • Case Study
7. Creative Accounting through False Revenue Recognition
   • Nature of Revenue
   • The recognition of revenue
   • Recognition vs. Realization
   • Analyzing the recognition of revenue
   • Case Study
8. Creative Accounting through the use of Acquisitions and Divestitures
   • Nature of the acquisition
   • Due diligence
   • Dressing the company for sale
   • Valuation of the Target
   • Synergies and Goodwill
   • Case Study
9. Creative Accounting through Financial Instruments and Off Balance Sheet Structure
   • Nature and purpose of Financial Instruments
   • FASB Rules on Special Purpose Vehicles
   • Sponsoring Corporations
   • Role and Benefits of Bonds and Equities
   • Structuring of Securitization Deal
   • Accounting Standards
   • Case Study
10. Other Creative Accounting Tactics
    • Earning Management
    • Recognizing Premature or Fictitious Revenue
    • Misreported Assets and Liabilities
    • Creative Income Statements: Classification and Disclosure
    • Case Study-Worldcom: Capitalizing Expenses
11. Creative Accounting through Consolidation Activities
    • Consolidation Basics
    • Consolidated Financial Statements
    • Misstatement of financial statements after acquisition
    • Case Study
12. Creative Accounting with Derivatives
    • Off balance Sheet Nature of Derivatives
    • Unrecognized Liabilities
    • Hedge Accounting and its Contribution to Creative Accounting
    • Cherry Picking
    • Case Study: Enron Gas Trading

Who Should Attend ?
Manager and Officer Finance/Accounting/Auditing

Investasi : Rp 2.950.000,-
Include : Lunch, 2x Coffee Break, Modul, CD Modul, & Certificate Of Accomplishment


Course Leader

Dr. Darsono Prawironegoro, SE., SF., MA, MM.
Educational Background:

• Doctor (S3) in Management from AIMS Honolulu-Hawaii, USA 2001,
• Doctor (S3) in Education from State University of Jakarta 1999,
• Magister (S2) in Antropology from University of Pancasila 1995,
• S1 in Philosophy from University of Indonesia 1987,
• S1 in Business Economy from University of Krisnadwipayana 1982,
• Bachelor of Accountancy from University of Indonesia 1977.

Career:

• Tutor in Magister Management Program in several Institutions 1996-now,
• Nusantara Consulting Consultant in Financial Management and Human Resource 1993-now,
• SGV-UTOMO/ Anderson Consulting Consultant in Financial Management and Cost Accounting training 1983-1992,
• PT Samudra Perdana Financial Manager 1978-1983;
• PT Intermodule Carriers Accounting Manager (Northwest Orient Airlines and Pakistan International Airlines) 1973-1978

Link lain : http://www.binamanajemen.com/view.php?course=42

Pendaftaran : http://www.binamanajemen.com/registration.php?course=42