Financial Statement First Bank: Fill & Download for Free

Thanks for the A2A. If they hired you with zero knowledge my guess is that they have an excellent training program. If they don’t you will want to prepare yourself.Looking back on my experience as an analyst, I wish I had been extremely comfortable with four things on day one:ExcelPowerPointThree Primary Financial StatementsComp TablesYou want to be exceptionally good at the first two. In my experience if you were not efficient in Excel, then you ended up with more pitch-book responsibilities. Also, and I cannot emphasize this enough, for both Excel and PowerPoint, learn the keyboard shortcuts.Fortunately, in the context of your role, items 1 and 3 can be learned simultaneously. Learn how the three financial statements are related, and build an integrated model with a five year projection (do this without using your mouse). Repeat this process until you can do it without any notes / visuals to help you. To help get you started: Introduction to Financial Statements & Integrating Financial Statements.With pen and paper, and without any aids, write down all of the line items on the three financial statements from top to bottom, make sure you understand every entry as well as the purpose of each financial statement. Write your own description of how the three financial statements are linked.Item 4 was the very first thing I was asked to do on the job, so it may be why it’s on the list. This is critical to valuation, understand why companies and ratios are selected for each table. Free resources:What is a comparable firm?http://pages.stern.nyu.edu/~adamodar/pdfiles/country/relvalAIMR.pdfMarket Multiples: Global Comparison and Analysis (Not as relevant to the work you will be doing, but interesting and insightful)The DCF model is emphasized in interviews, but in my opinion the most challenging aspect of building a DCF model is integrating the three financial statements. If you understand the basic logic, NPV, WACC and Terminal Value, you should be fine:Basic Discounted Cash Flow ModelNet Present Value | ASimpleModel | ASimpleModel.comWeighted Average Cost of Capital

First, remember than accounting is far from exciting, in theory.Second, get a book like accounting for dummies Accounting For Dummies: John A. Tracy: 9781118482223: Amazon.com: BooksThird, then get the annual report of a few companies that you like. See if you can understand then.Finally, with your newfound insight, try and project the future earnings and cashflow of one of the companies. Which is an exciting endeavour. As it could highlight a bargain investment.And remember, earning don't equal cashflow, 100%. One of the more surprising and annoying things about accounting.

The date of transition for companies differs depending on the category they fall into of the Roadmap for Implementation of Indian Accounting Standards. Further, the date of transition to Ind AS is not the same as the date from which companies are mandatorily required to prepare Ind AS compliant Financial Statements.Explaining three concepts as defined in Ind AS 101, titled First time adoption of Ind ASFirst Ind AS Reporting Period,First Ind AS Financial Statements andDate of Transition to Ind ASin the backdrop of the Ind AS implementation road-map issued by the Ministry of Corporate Affairs of the Indian Government becomes pertinent here.Let us now take an example to understand the terminologies better:Hitaayu Ltd., an unlisted company with a net worth of more than 250 crores as on 31st March, 2014 is required to mandatorily adopt Ind AS from 1st April 2017 for preparation of its financial statements (Refer Road map below for more details). If Hitaayu Ltd., adopts Ind AS for the preparation and presentation of its financial statements for the financial year 2017–18 and also makes an explicit and unreserved statement of compliance with the Indian Accounting Standards, then the financial statements of FY 2017–18 shall be the First Ind AS Financial Statements of the company and FY 2017–18 shall be its First Ind AS reporting Period.Schedule III of Companies Act, 2013 that governs the form and content of Financial Statements of companies, requires that the corresponding amounts (comparatives) for the immediately preceding reporting period for all items shown in the Financial Statements including notes shall also be given. The reporting period, immediately preceding to FY 2017–18 is FY 2016–17. Thus, the date of transition to Ind AS shall be 1st April, 2016 being the beginning of the earliest period(FY 2016–17)for which the company has presented full comparative information as required by Ind ASs in its First Ind AS Financial Statements.Thus, there will be 3 Balance Sheets in Hitaayu Ltd.’s First Ind AS Financial Statementsas on 1st April, 2016 (Date of transition to Ind AS)as on 31st March, 2017 (Comparatives)as on 31st March, 2018 (First Ind AS reporting period)The Company is required to restate the figures as reported on 1st April, 2016 and 31st March, 2017 in compliance with Companies (Accounting Standards) Rules, 2006 as amended from time to time.Reference :Ind AS Implementation road-map for companies other than banks, NBFCs and Insurance Companies