Financial Accounting and Reporting Course

Course Overview:

The Financial Accounting and Reporting course makes it possible for participants to be able to prepare and read financial statements according to IASB principles. The course involves the essential of ‘financial statement preparation’, which includes but is not limited to costs, revenues, assets, liabilities, owners’ capital/ equity and the relevant notes and disclosures supporting the statements.

It also stresses the need to assess critically the financial statements’ level of accountability and report the level of operational performance with financial accounting concepts.

Participants will also get experience on design the internal/emphasis on designing excel for reporting and forecasting the future profits for the organizations. Anyone working in accounting, or financial analysis as well as in other areas related to financial information, is accountable for reporting financial information for that matter should attend this course.

Course Objectives:

At the end of this Financial Accounting and Reporting Course, participants will be able to:

• Understand the role of financial reporting in managing business performance
• Properly account for assets, liabilities, equity, revenues, and expenses.
• Prepare financial statements with the required notes and disclosures in periodic financial reports.
• Recognize the need for transparency in the reporting of financial statements and management reports.
• Prepare financial statements in accordance with IASB standards
• Critically analyze and interpret financial statements and reports
• Assist in developing Integrated Reports for your own organization
• Apply practical Excel skills to improve reporting and forecasting

Who Should Attend?

This Financial Accounting and Reporting Course is ideal for:

• Accounting and financial specialists. Those who wish to understand how to interpret the financial statements of business entities, and those who wish to learn the mechanics of preparing financial statements under IFRS.
• Individuals are 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 Outlines:

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

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

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
• Optimizing working capital
• Cash flow forecasting techniques
• Group Accounts: purpose structure and presentation

Analysis and Interpretation of Financial Reports

• Fundamentals of analyzing 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

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

see more: Financial Accounting, Reporting, and Business Support in the Oil and Gas Industry Course