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Course Overview
With the rapid developments in accounting standards, regulations, and industry practices, professionals need continuous training to stay current on all the changes. They also need to improve the quality of financial reporting by recording, reporting, and disclosing usual and unusual business transactions. 'Financial Accounting and Reporting' is a course prepared to help professionals understand and practice the accounting and reporting of business transactions and results, aiming to comply with IFRS and support decision-making.
Course Objectives
By the end of the course, participants will be able to:
- List the basic financial statements and determine the best structure and presentation practices
- Explain how to properly account for revenues and expenses, leading to the preparation of an income statement
- Classify the accounts of assets, liabilities, and equity, leading to the preparation of the balance sheet and statement of owners’ equity
- Prepare the cash flow statement
- Apply accounting adjustments required for accurate financial reporting
- Recognize reporting for major accounts and transactions
Course Audience
Accounting and financial specialists. Those who wish to understand how to interpret the financial statements of business entities, those who wish to learn the mechanics of preparing financial statements under IFRS.
Individuals charged with the responsibility of providing financial information about a reporting entity that is useful to users in making decisions.
Financial accounting team members
Financial planning and budgeting professionals
Strategic planning and head office team members
Corporate communication and investor relations professionals
Investment analysts and advisers
Course Methodology
The course uses interactive techniques, such as brief presentations by the consultant, the practical application of theories, and group exercises to exchange experience and apply knowledge acquired throughout the course.
Course Outline
Day 1:Financial Accounting and Reporting – Business Context and Key Principles
- Purpose of financial accounting and reporting
- Key principles in corporate governance
- Building a winning business model
- Key concepts in financial accounting
- Structure of financial accounting systems
- Fundamentals of financial reporting
- Creative accounting, scandals, and fraud
Day 2:The Statement of Financial Position and Income Statement
- The IASB Conceptual Framework
- Statement of Financial Position: purpose structure and presentation
- Tangible and intangible assets
- Financial assets and liabilities
- Inventories
- Statement of Changes in Equity: purpose structure and presentation
- Income Statement: purpose structure and presentation
- Revenue recognition principles
Day 3:The Statement of Cash Flows and Group Reporting
- Statement of Cash Flows: Purpose Structure and Presentation
- Understanding business cash flow drivers
- Equity capital and debt capital
- Leases
- Optimising working capital
- Cash flow forecasting techniques
- Group Accounts: Purpose Structure and Presentation
Day 4:Analysis and Interpretation of Financial Reports
- Fundamentals of analysing financial reports
- The shareholder value concept
- Measuring and managing profitability
- Measuring and managing liquidity
- The effect of gearing on risk and shareholder value
- Predicting corporate distress and failure
- Forecasting financial performance and financial position
Day 5:Designing and Presenting Effective Financial Reports
- The limitations of financial reports
- Designing effective internal business reports
- Incorporating Excel graphics in internal reports
- Developing and using business dashboards
- Making effective financial presentations
- Developments in Integrated Reporting (IR)
- Integrated Reports: Purpose, Structure, and Presentation