INTRODUCTION FOR FINANCIAL REPORTING
Participants able to develop the knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements. Develop skills in analysing accounting reports and evaluating organizational performance through statement of change in financial position. Knowledge of master corporate financial planning, forecasting and budgeting, learning how to manage the financial management effectively in organization.
HOW WILL YOU BENEFIT:
This course covers current practices in corporate financial reporting and fundamental issues relating to asset valuation and income determination. The emphasis is on financial statement analysis and interpretation of financial disclosures to help improve risk assessment, forecasting, and decision‐making.
WHO MUST ATTEND FINANCIAL REPORTING
- Accountants
- Business Advisors
- Finance Managers
- Entrepreneurs
- Supervisors
- HOD
- Business owners
- Students
COURSE CONTENT
Topic 1 : Basics of Financial Accounting
- Meaning, need and terminology of financial accounting
- Accounting cycle
- Double-entry system
- Accounting equation
- Cash and accrual system of accounting
Topic 2 : Financial Reporting
- Evolution of regulatory framework of financial reporting, conceptual framework
- IFRS
- Users of financial information
- Theories of disclosure
- Accounting standards
- Annual report
Topic 3: Recording and posting of transactions
- Source documents
- Classification of accounts
- Journalizing
- Posting and balancing
Topic 4: Preparation of financial statements
- Aspects of financial statements
- Manufacturing account, trading account
- Profit and loss account- classification, accounting treatment of revenue and expenses
- Balance sheet- classification, accounting treatment of assets and liabilities
Topic 5 : Depreciation and valuation for inventories
- Basics of depreciation
- Methods of allocating depreciation- Straight line method, written down value method
- Sinking fund method
- Provisions and reserves
- Revenue reserve and capital reserve
- Inventory systems: periodic and perpetual
- Methods of valuation of inventories: LIFO and FIFO method
Topic 6: Accounting for share capital
- Classification of capital
- Kinds of shares
- Basic terminology
- Off-balance sheet finance
- Financial instruments
- Allotment of securities
- The balance sheet of the company
Topic 7: Analysis and interpretation of financial statements
- Ratio analysis
- Liquidity ratios
- Solvency ratios
- Activity ratios
- Profitability ratios
- Cash flow statement
- Measures of return
Topic 8: Accountability and ethics
- Ethical issues in accounting
- Accounting code of conduct
- Function of auditing
- Corporate governance
- Case study
Topic 9: Financial Audit Report
- Audit Preparation
- Internal & external audit
Topic 10 : Q & A Section
End Of Program
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