Financial Reporting Course

This course covers current practices in corporate financial reporting with emphasis on preparation of financial statements (from trial balance) through the application of International Financial Reporting Standards (IFRSs) and financial disclosures. The focus is to provide participants with the requisite tools to understand the environment in which financial reporting choices are made, what the options are and how to comply with the relevant financial regulatory standards.

Learning Outcomes

On completion of this course, successful participants will be able to:

Prepare the financial statements of single companies in accordance with current International Financial Reporting Standards (IFRSs), including:
- Statements of Profit or Loss and other Comprehensive Income;
- Statements of Financial Position;
- Statements of Changes in Equity; and
- Statements of Cash flow.
Recommend the appropriate accounting treatment under IFRSs Standards for specific transactions
Prepare journal entries, with supporting calculations, to account for a range of transactions in accordance with any relevant guidance on accounting treatment
Construct appropriate disclosures for inclusion within the annual report and accounts

Prepare notes to financial statements in accordance with current IFRSs.

Core Areas of Focus

Accounting for:

Revenue recognition including revenue recognition of construction arrangements for real estate
Property, plant and equipment
Intangible non-current assets
Investment properties
Inventories as applicable to various industries
Provisions, contingent liabilities and contingent assets
Leasing
Impairment reviews

The course will include real-life application through practice and exercises.

Who Should Attend?

Senior and junior accountants, accounting and finance professionals, accounting managers and supervisors and any accounting and finance professionals interested in learning and updating their knowledge regarding the preparation of financial statements and notes.

Why Attend?

Financial statements and the annual reports are key communication channels between companies and their different stakeholders. By attending this course, you will be able to prepare financial statements as per the International Financial Reporting Standards (IFRS) which will allow you to maintain your company’s financial reporting transparency and credibility.