During March and May 2020, SHUKALB delivered the two-day training course “Financial Statements and their Role in Decision Making”. The first day of the training was delivered on 5 March, 2020 at Hotel Mondial, Tirana, while the second day was delivered online on 14 May 2020 via Zoom platform.
The training course was attended by the heads of the financial, commercial, accounting and technical departments from the Water Utilities of Shkoder, Lezhe, Durres, Kruje, Lushnje, Pogradec, Bilisht, Gjirokaster, Permet and Sarande. The training was delivered by PhD. Mirela Miti, Lecturer, Faculty of Economy, University of Tirana.
The first day the trainer covered topics related to the general frame of financial statements including the financial position, performance statements, cash flow, the rules for implementation of accounting policies, accounting estimates, accounting and error correction, presentation of economic events, after the financial statements closure date, as well as the role of financial statements in the decision-making process for senior management levels.
The second day the training was delivered online and the trainer covered topics related to provisions, liabilities and contingent assets, deferred tax, cots of capital, performance statement elements, and model of regulated asset base.
Participants addressed practical questions especially related to compliance with national or international financial reporting standards (IFRS) for utilities and the legal framework on the reporting issues. Overall feedback received from the participants was highly positive highlighting the importance of the continuous learning related to financial management and exchange among colleagues.