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Financial Accounting and Reporting Course

By: LCL Coaches Consultants  

Lagos State, Nigeria

23 - 26 Nov, 2021  4 days

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NGN 140,000

Venue: Lagos

Other Dates

Venue Date Fee  
Lagos, Lagos State, Nigeria 22 - 25 Feb, 2022 NGN140000
Lagos, Lagos State, Nigeria 17 - 20 May, 2022 NGN140000
Lagos, Lagos State, Nigeria 16 - 19 Aug, 2022 NGN140000
Lagos, Lagos State, Nigeria 15 - 18 Nov, 2022 NGN140000

Financial accounting is a specific branch of accounting involving a process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time. Financial Reporting involves the disclosure of financial information to the various stakeholders about the financial performance and financial position of the organization over a specified period of time. the objective of financial reporting is to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions.

Day One

Financial statements and business decisions

  • The financial accounting cycles
  • 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

Income statement

  • 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

Day Two

Balance sheet and statement of owners' equity

  • 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

Cash Flow Statement

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

Day Three

Accounting adjustments

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

Financial reporting for major accounts and transactions

 

  • 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

Day Four

Financial reporting for major accounts and transactions (Cont.)

  • 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
Lagos Nov 23 - 26 Nov, 2021
Lagos, Lagos State, Nigeria 22 - 25 Feb, 2022
Lagos, Lagos State, Nigeria 17 - 20 May, 2022
Lagos, Lagos State, Nigeria 16 - 19 Aug, 2022
Lagos, Lagos State, Nigeria 15 - 18 Nov, 2022
NGN 140,000.00(Group Discount Available)
(Convert Currency)

Olusina Lajorin 09026713101, 08033241313,

Group discount apply
Olusina Lajorin

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