Financial reporting

Only accountants can save the world – through peace, goodwill and reconciliations

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  • Online, On-site, One to One
  • Academy Finance
  • Duration 1 week
  • Location London, Riyadh
  • Course Ref FIN-7

Objectives

By the end of the program, participants will be able to:

  • Recognize important financial accounting topics and how to report them on financial statements.
  • 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.
  • Determine the structure, presentation and disclosure of financial statements and annual reports.
  • Report and interpret income statement and balance sheet accounts.

Contents

Financial Statements and Business Decisions

  • Accounting and Financial Systems
  • Four Key Financial Statements
  • Relationship among the Financial Statements
  • Management Uses of Financial Statements
  • Essential Notes to the Financial Statements

Income Statement

  • Recognizing and Accounting for Revenues and Expenses
  • Applying Matching Principle and Accrual Basis
  • Comprehensive Income and Earning Per Share
  • Signs of Cooking the Books

Balance Sheet & Statement of Owner’s Equity

  • Categories and Accounts of Assets, Liabilities and Equity
  • Definitions of Accounts in the Balance Sheet
  • Statement of Owners Equity
  • Caution Flags

Cash Flow

  • Defining the Three Sections of Cash Flow Statement
  • Direct versus Indirect Method and the Relation to BS and IS
  • Interpreting Cash flow Patterns

Accounting Adjustments

  • Accruals and Unearned Revenue and Prepayments
  • Accounting Estimates
  • Financial Statements Relationships

Receivables

  • Measuring and Reporting
  • Estimating and Accounting for Bad Debts
  • Methods of Converting Accounts Receivable to Cash

Inventory

  • Nature of Inventory and Cost of Goods Sold (COGS)
  • Methods for Determining Inventory and COGS Values

Property, Plant, Equipment and Intangibles

  • Classifying, Measuring and Recording Long-Lived Assets
  • Accounting for Repairs, Maintenance, and Additions
  • Depreciation, Amortization and Disposal of Assets
  • Accounting and Reporting for Intangibles and Natural Resources

Reporting and Interpreting Investments

  • Types of Equity and Debt Investments
  • Accounting for Investments
  • Fair Value and Equity Methods / Controlling Interest

Liabilities and Owners’ Equity

  • Definitions and Classification of Liability Accounts
  • Types of Ownership and Stock
  • Accounting for Capital and Dividends
  • Accounting for Treasury Shares

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