Financial Accounting & Reporting

About the Course

This Financial Accounting and Reporting training course will refresh and update both your knowledge, and practical skills in financial accounting and corporate reporting following significant development in financial reporting in recent years. As well as providing a comprehensive refresher in the established foundation principles on which financial information is prepared and reported, the course will also set this within the context of the evolving conceptual framework of the International Accounting Standards Board (IASB) and its International Financial Reporting Standards (IFRS), focusing on the most significant changes in recent years and the new reporting standards issued as a result.

It will also provide a vital update on more recent developments; the focus on stakeholder value creation and recent thinking on company purpose will be explored in the context of the evolving development of Integrated Reporting. The training course will also provide you with useful practical Excel skills in building financial ratio analysis tools, cash flow forecasting and designing graphical financial reports for internal company use.

Core Objectives

This training course has been designed to provide the delegates with up to date knowledge and practical skills in the preparation, presentation and interpretation of financial statements and corporate reports.

Upon successful completion of this course, the delegates will be able to:

• Understand the role of financial reporting in managing business performance
• Prepare financial statements in accordance with IASB standards
• Critically analyse and interpret financial statements and reports
• Assist in developing Integrated Reports for your own organisation
• Apply practical Excel skills to improve reporting and forecasting

Training Approach

This training course will be structured as a highly participative workshop with formal presentations, case studies and interactive worked examples. Relevant examples and case studies are provided to illustrate the application of each of the topics covered and opportunities are provided to learn and apply the key financial accounting and reporting principles using practical examples and exercises.

The Attendees

This training course would be relevant to all of those involved in the preparation, presentation, and interpretation of corporate financial reports from both the private and public sector; both in commercial businesses, government and not-for-profit organisations.

This training course is suitable for a wide range of individuals but will greatly benefit:

• 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

Daily Discussion

DAY ONE: 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

DAY TWO: 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

DAY THREE: 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
• Optimising Working Capital
• Cash Flow Forecasting Techniques
• Group Accounts: Purpose, Structure, and Presentation

DAY FOUR: ANALYSIS AND INTERPRETATION OF FINANCIAL REPORTS

• Fundamentals of Analysing 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

DAY FIVE: 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