The Art of Reading an Annual Report

Objectives:    The program is designed to provide simple but powerful analytical tools to participants that aid in drawing useful qualitative and quantitative inferences from an annual report.

Content:    Elements of subjectivity

  • Inferences on management quality
  • Management Discussion & Analysis – Different strokes
  • Director’s reports – structure and key observations
  • Understanding the nature of key accounting policies
  • Auditors’ report
  • How to gauge management quality? The key pointers.

Guiding structure

  • The laws that regulate Annual report structure
  • Process of consolidation – some fundamentals
  • Understanding the corporate structure
  • Why are corporate structures important?

Financial evaluations

  • Capital Employed
  • Capital intensity
  • Margin profiles
  • Volume profiles
  • Industry leverage
  • RoCE and RoE decomposition

Case Study

  • Evaluation of an annual report. A Classroom exercise.

Target Audience:     
B School Students, Investment Bankers, Equity Analysts, Corporate Finance professionals, Mutual Funds, Broking, Houses, Financial Institutions, Equity Trader, Strategist, Consultants, High Net worth Investors, other capital market intermediaries, Students, Retail Investors.
    
Duration & Timing:    1 day [9.30 am to 5.30 pm]
    
Fees:     Rs. 2,500/- + 12.36% ((Service Tax + Education Cess) per participant inclusive of tuition fees, reference material and (morning / evening) refreshments only.