Financial Accounting and Reporting
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Financial Accounting and Reporting Course
Introduction:
The Financial Accounting and Reporting training course offers a comprehensive opportunity to refresh and update your knowledge and practical skills in financial accounting and corporate reporting. It addresses the significant developments that have taken place in financial reporting in recent years, ensuring you stay up to date with the latest practices.
In addition to providing a thorough review of the established foundational principles that underpin the preparation and reporting of financial information, the course places a strong emphasis on the evolving conceptual framework of the International Accounting Standards Board (IASB) and its International Financial Reporting Standards (IFRS). It focuses on the most notable changes that have occurred in recent years and the new reporting standards issued as a result.
Throughout the course, you will gain a clear understanding of the crucial role accountants play as processors and providers of information for decision-making purposes. You will also develop insights into the needs of stakeholders who rely on accounting information, as well as the broader role performed by accountants in the business environment.
The course covers essential topics such as the preparation of balance sheets, income statements, and cash flow statements. You will learn how to analyze financial statements and calculate and interpret key ratios, enabling you to derive meaningful insights from financial data. Additionally, the course delves into the role of managerial judgment in selecting accounting estimates and methods, highlighting the importance of sound decision-making in accounting practices.
By participating in this training course, you will enhance your ability to navigate the dynamic landscape of financial accounting and reporting. You will develop practical skills and gain a deeper understanding of the conceptual framework and reporting standards. Ultimately, this knowledge will enable you to contribute effectively to your organization's financial reporting processes and make informed decisions based on financial information.
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 reporting of financial statements and management reports.
- Prepare financial statements in accordance with IASB standards
- Critically analyse 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, 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 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