The Development Center for Finance (DCF) successfully conducted the second run of the Financial Statement Analysis Seminar for 2024 on September 7, 14, 21, and 28, and was attended by 28 participants from various companies and industries.

In Day 1, Ma’am Pam Lloren-Alcantara opened the seminar and did an expectation setting session with the participants. A roadmap of the four-day Financial Statement (FS) Analysis seminar was presented and the seminar proper was started with the discussion of the different asset and liability components of the balance sheet. Different examples from actual FS were discussed to illustrate the effects of common asset and liability transactions.

Sir Mike Magana then continued with the equity components of the balance sheet in the second day of the seminar, and thoroughly discussed the income statement and the cash flow statement. Illustrative exercises and examples from local corporations were presented to provide real-world context to the discussion. The FS preparation and how they are related to one another was also demonstrated.

Sir Lester Aratea handled Day 3 to discuss the different techniques used in FS analysis, including ratios related to profitability, efficiency, liquidity, solvency, and cash flows. Qualitative considerations were also discussed, particularly various company, macroeconomic and industry information that should be carefully considered. A subject company was then presented to apply these different FS analysis techniques.

Sir Art Cayanan took over on the last day of the seminar, starting the session with a review of the discussions in the past three (3) Saturdays, then introducing other FS analysis techniques, including common-size, trend, and break-even analyses. Cases of several Philippine-listed companies were then presented and discussed to apply all the learnings during the seminar, taking different perspectives, as lenders, financial analysts, and even as investors.

Some of the feedback from the participants about the 4-day seminar were as follows:

“The program was great, and the topics were discussed clearly to us. I love how Ma’am Pam really cares about our questions. Excited for the next sessions!”

“Sir Mike discussed the topics in detail. A lot of information in a session but overall the presenter did well!”

“Perhaps my favorite part of the seminar so far. The topics are most useful to me. Thank you, Sir Aratea! He connected to his audience quite well, engaging them with clear and relatable communication and kept their attention throughout the session. Thanks to the previous lecturers for a comprehensive introduction, too!”

“This whole day I learned a lot. Thanks to Sir Art and also to all those behind this program. On this last day, I appreciated why understanding financial statements is important to the nature of my work as a credit analyst. With the lessons taught today, I know more where to focus and what to check in analyzing FS. Again, Thank you DCF!“

“Send my thanks to DCF for organizing this training! I had a great time and I learned a lot from the seminar.”