Concepts

1. The ASEAN Economic Community of 2016 will open opportunities for professionals in the fields of finance. With the intercultural nature of the new 10-nation community, professionals in these fields should be able to discuss financial terminology in English.
   
2. The financial world usually requires that strict records are kept and the professionals who are involved in this field are called accountants or auditors. These specialists should be able to identify the key elements of balance sheets and income statements, and talk about them in English when working in the AEC in 2016.
   
3. Accountants, auditors and investors will also need to read cash flow statements and know the terminology used.
   
4. Financial professionals should all know the importance of financial statement footnotes, and be able to read and discuss them.
   
5. A company IPO prospectus reports are vital documents for large companies and professionals in the financial world will need to read and comprehend them.
   
6. The various professions in finance and accounting each have their own volumes of specialist vocabulary. People working in the financial world of the AEC will need to know some of this vocabulary and the various phrases that are often used.

Objectives

After studying this module, the students should be able to

1. use and describe financial terminology.
   

2. use and interpret balance sheets and income statements.
   

3. describe and discuss cash flow statements.
   

4. know what is meant by a financial footnote and discuss the implications.
   

5. read and comprehend an IPO prospectus report and use the information.
   

6. use the English phrases and vocabulary associated with their areas of expertise.