The PG Dept. organized a Guest Lecture for the course Managerial Accounting on the topic of ‘Cash Flow Statement’ for Part I students. The objectives of the session were:
- To acquaint students with the importance of Managerial Accounting in the corporate world.
- To give students an insight into to how financial statements could be misleading w.r.t. the information provided by companies, and how a Cash Flow Statement could help in decoding such information.
- To practically (numerically) help students prepare a Cash Flow Statement as per the New Accounting Standards.
The Resource Person for the Lecture was Mr. Sameer Shaikh, Co-Partner with E-Trenz, Fatorda and a Full time Doctoral Scholar at BITS-Pilani , K.K.Birla Campus, Goa. 16 students attended the session. Ms. Reneta Costa welcomed the Resource person and introduced him to the audience.
Mr. Shaikh began by interacting with students by putting forth questions to them such as, How do we analyze a Company’s Financial position? What are the tools, techniques etc.?He elaborated upon how Managerial Accounting helps Companies make strategic decisions. Mr. Shaikh then gave students an overview as to what was the need for a Cash Flow Statement and how just looking at a Trading & Profit & Loss Account along with a Balance Sheet could be misleading, as they do not reflect the true and fair picture of the Company’s Financial Position. He demonstrated through real life cases as to how the Balance Sheet and Profit and Loss Accounts could be manipulated to mislead the investors and general public.
He explained how a Cash Flow Statement used to be prepared earlier and the changes made to incorporate the International Financial Reporting Standards and the International Accounting Standards requirements. He briefly explained the legal requirements for companies to furnish a Cash Flow Statement along with Unaudited and Audited Financial statements of Companies. He elaborated upon the various aspects of a Cash Flow Statement and listed the various components of the Cash Flow Statement – he gave specific instances of what forms part of the Cash Flow Statement and what does not form part of this Statement. Later Mr. Shaikh explained to students the adjustments in a Cash Flow Statement and how to solve a Cash Flow Statement Numerical.
Towards the end of his session, he gave students examination tips to score better for the exams. The session concluded at 1:00 p.m. with Ms. Anisabanu Shaikh proposing the Vote of Thanks.
