This course will enable you to develop an awareness of the relevant financial information you can discover about a mining corporation from its audited financial statements. You will also have an appreciation for how accountants and financial analysts are challenged with exercising professional judgment on qualitative and quantitative financial material and balanced with a need for numerical precision. You will recognize that professional judgments included in financial assessments are similar to those made in demonstrating probable and proven mineral reserves.
"Analysis of Mining Financials" uses the business environment in the mining industry as a relevant context for understanding and analyzing the financial statements of mining corporations. It isolates select accounting and financial aspects as being fundamental to becoming an informed reader of audited financial statements, including balance sheets, income statements, cash flows statements, statements of shareholders' equity, and the audited notes. Financial statements examples from both large and small mining companies are used and analyzed to illustrate these fundamentals.
The course draws on credible sources to highlight relevant characteristics of accounting and financial analysis for mining. The objective of this material is to identify some prominent aspects of financing the corporate mining strategy, delving into the distinct areas where there are issues in accounting for the mining industry, and summarizing the inherent risks in understanding the financial statements of those involved in mining. The course provides some of the tools to establish a profile of a company's overall financial status and identifies the attributes that contribute to financial health and flexibility.
Dates: 16, 17, 19 October 2020
Duration: 3 sessions of 3 hours each
Time: 10:00 am - 1:00 pm PDT. Check the exact time and date in your city here.
Price: $399 USD
See below for course policy
Carlos da Costa
Carlos da Costa is a lecturer at Simon Fraser University where he offers risk management and finance instruction within the Beedie School of Business. He is also an instructor at the University of British Columbia (UBC) where he provides mining finance and economics related instruction. In addition, Carlos recently completed his PhD at UBC, focusing on resource (mining and energy) finance and economics. He is also a seasoned financial professional with solid experience in financial derivatives, market and credit risk, and structured finance.
Who Should Attend
This course is appropriate for anyone interested in gaining some fundamental understanding on how to extract financial intelligence from company financial reports. This is particularly essential to those in the mining management, financial, and investment sectors who do not necessarily possess a financial and/or accounting background.
The course will be of particular interest to junior mining analysts with a limited financial background, various levels of management, fund and asset managers, bankers, lawyers, consultants, engineers responsible for development planning, exploration managers and other specialists in the valuation of mineral projects. It will also be of interest to industry-based geologists and engineers, as well as government officials.
Prior to the course, registered delegates have access to the online e-learning material consisting of an introductory course titled Understanding Financial Statements of Mining Companies.
Continuing Professional Development (CPD)
Registered participants who attend the entire short course and complete an evaluation at the end of the course will receive a Certificate of Attendance, confirming the Professional Development Hours (PDH)/Continuing Education Units (CEU) earned. Please confirm with your employer and/or professional association that this course qualifies for CPD.
Notice of cancellation must be given in writing by letter, fax or email and action will be taken to recover, from the delegates or their employers, that portion of the fee owing at the time of cancellation.
A 10% administration fee will be levied for cancellations made 4 or more weeks prior to the first day of the course. Thereafter, the following cancellation refund schedule will apply.
- Cancellation made more than 3 weeks prior to the first day of the short course: 70% of the registration fee is reimbursed.
- Cancellation made more than 2 weeks prior to the first day of the short course: 50% of the registration fee is reimbursed.
- Cancellation made less than 2 weeks prior to the first day of the short course: no reimbursement of registration fees.
Edumine reserves the right to cancel an advertised course on short notice. It will endeavour to provide participants with as much notice as possible, but will not accept liability for costs incurred by participants or their organisations as a result of the course being cancelled or postponed.
Student are expected to learn in the course the following and possibly more:
Overview of financial management (including: securities exchanges; capital markets; agency issue, ethics & Sarbanes-Oxley Act; financial institutions & Markets; going public/IPO; stocks/dividends basics)
Principles and authorities underlying accounting reports: basic discussion of IFRS vs. US GAAP as it impacts the financial statements of mining corporations listed on multiple stock exchanges
Financial statements (F/S) and the notes: basics and practice (review the main concepts of key financial statements and their respective components); includes examination of several F/S of mining companies
Performing financial statement analysis (including: statements of comparative and common-size form; ratio analysis; financial distress/forecasting the financial distress of mining companies)
Shareholders' equity section of balance sheets (B/S): different kinds of shares, options, convertible securities; treasury shares in jurisdictions that allow such Earnings per share (EPS) and other measures of performance; effect of dilutive securities on EPS
Investments in others: passive, significant influence, and control; concepts equity method and consolidated F/S (mergers & acquisition accounting)—specifically, consolidation vs. equity method of accounting
Understanding the basics of derivatives and hedging, and the accounting for derivatives and hedging activities
Unstructured: time for questions and any overlaps from above
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