Financial Accounting and Reporting

'Financial Accounting and Reporting' is a course prepared and facilitated by professionals who not only master the theoretical facts of academia, but who also have a solid and practical global experience.

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Course Objectives

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

  • List the basic financial statements and determine the best structure and presentation practices
  • Recognize important periodical adjustments and their effect on financial statements
  • Explain how to properly account for assets, liabilities, equity, revenues and expenses during recurrent and non-recurrent transactions
  • Identify minimum disclosure requirements in the financial statements for major accounts of transactions
  • Prepare financial statements starting from raw trial balance and ending with full comprehensive disclosures

Course Module

 

  • The financial accounting cycle
  • Four or five key financial statements
  • Management uses of financial statements
  • Relationship among financial statements
  • Essential notes and disclosures to the financial statements
    • Basis of preparation
    • Accounting policies
    • Related parties' transactions
    • Contingencies
    • Risk managements
    • Subsequent event
  • Simulation 1: reporting on general information, basis of preparation and significant accounting policies

 

  • Revenue and expense recognition: applying the accrual basis
  • Matching principle between revenues and expenses
  • Other comprehensive income components
  • Earnings per share reporting
  • Simulation 2: mapping accounts and preparing income statement using Excel
  • Simulation 3: creating income statement disclosures

 

  • Minimum presentation requirements of balance sheet accounts
  • Definitions of accounts in the balance sheet
  • Correct presentation for statement of owners' equity
  • Simulation 4: mapping accounts and preparing equity and balance sheet using excel

 

  • Exploring the three sections of a cash flow statements
  • Direct versus indirect method of cash flow statement preparation
  • Linking cash flow statements to notes

 

  • Accruals and unearned revenues
  • Prepayments and deferrals
  • Accounting estimates

 

  • Measuring and reporting accounts receivable
  • Estimating and accounting for bad debts
  • Costs to be capitalized in inventory value
  • Inventory cost flow assumptions
  • Presenting inventory at lower of cost or net realizable value
  • Simulation 5: hands-on preparation of disclosures on current assets
  • Classifying, measuring and recording long lived assets
  • Repairs, maintenance, and additions to long lived assets
  • Depreciation and amortization
  • Disposal of long-lived assets
  • Accounting and reporting for intangibles
  • Accounting for investments
    • Passive investment, exercising significant influence or control
    • Types of equity and debt investments
  • Simulation 6: hands-on preparation of disclosures on non-current assets
  • Definitions and classification of liability accounts
  • Types of ownership and stock
  • Accounting for capital and dividends
  • Simulation 7: required disclosures on long-term obligations and equity
  • Wrapping it up: linking notes to face of financial statements

Learning Approch

  • Designed with a focus on real world relevance
  • Real-world case studies
  • Hands-on Assignments
  • Individualized Instructor
  • Career Guidance
Program
Dates

Certification (LP Certificate)

Earn a Course Completion Certificate, an official Learners Point credential that confirms that you have successfully completed a course with us.

Certification (KHDA)

Earn a KHDA attested Course Certificate. The Knowledge and Human Development Authority (KHDA) is the educational quality assurance and regulatory authority of the Government of Dubai, United Arab Emirates.

Expert Instructors & Teaching Methods

Learners Experience

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Micheal :Head of Accountant

Well packaged in terms of content, context and presentation. Strongly recommended for Executives in Accounting.

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Mary Shweta :Reinsurance/Treaty Account Executive at General Insurance Corporation of India (GIC Re)

It was a very informative class. A lot of information but in a short amount of time. I came to this course with little to no experience and I feel this class has helped me immensely.

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SANU DAVID STANLY :Customer Service Executive at Hamburg Sud Shipping Dubai

“One of the best institutes where I have learned so much, the staff are very supportive and kind. The trainer is very knowledgeable, experienced and very friendly looking forward to learning more from him”

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Micheal :Head of Accountant

Well packaged in terms of content, context and presentation. Strongly recommended for Executives in Accounting.

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Mary Shweta :Reinsurance/Treaty Account Executive at General Insurance Corporation of India (GIC Re)

It was a very informative class. A lot of information but in a short amount of time. I came to this course with little to no experience and I feel this class has helped me immensely.

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SANU DAVID STANLY :Customer Service Executive at Hamburg Sud Shipping Dubai

“One of the best institutes where I have learned so much, the staff are very supportive and kind. The trainer is very knowledgeable, experienced and very friendly looking forward to learning more from him”

Frequently Asked Questions

Our trainings are mostly instructor led and classroom based. However, we also offer high quality live and interactive online sessions.

Our highly skilled faculties from around the globe are experts in their fields and come with decades of diverse industry experience. Our trainers are internationally recognized and locally preferred with rich research driven experience which will ensure highly customizable, engaging and top in the class learning experience.

Choosing LearnersPoint is true value for money as our trainings are right blend of theory and practice and specially developed keeping tomorrow's business needs in mind. All the training sessions are closely monitored through specially designed progress tracker to ensure reinforced and unparalleled learning experience

Once you have registered for a course and wish to not to proceed with the training for any reason, you are entitled for a refund of the fees provided we are notified in writing within 2 days from the date of initial registration before the training commencement. The refunds are processed within 4 weeks from the day of withdrawal.