Preparing Financial Statements and the Annual Reports

Financial statements and the annual report are key communication channels between companies and their different stakeholders. By attending this workshop, you will be able to prepare financial statements as per the International Financial Reporting Standards (IFRS) hence maintaining your company’s financial reporting transparency and credibility. By the end of the workshop, participants will be able to:

• Apply each part of the accounting cycle on the job
• Perform accounting adjustments including deferrals and accruals
• Create trial balance and adjusted trail balance
• Preparing and present income statements, balance sheets, cash flow statements and formulate notes to the financial statements

Content

The Accounting Cycle

• Understanding Accounting Cycle
• Analyzing Transactions and Recording in the Systems
• Preparing Ledgers and General Ledgers (GL)
• Types of Adjusting Entries
• Preparing Financial Statements
• Closing the Books

Chart of Accounts and Design Techniques

• Designing Chart of Accounts
• Analyzing Chart of Accounts
• Reconciliations and Important Issues
• Creating the Trial Balance

Accounting Adjusting Entries

• Understanding deferrals
• Deferrals Revenues and Entries
• Working with Accruals
• Other Adjustments and Corrections
• Preparing the Adjusted Trial Balance

Preparing Financial Statements and Notes

• Preparing Income Statements, Balance Sheet, and Cash Flow Statement
• Preparing the Owners’ Equity Statements
• External Audit vs. Internal Audit
• Reading and Interpreting the Audit Opinion
• Management Discussion and Analysis

Notes to the Financial Statements

• Requirements for the Notes
• Basis for Preparation
• Organization and Activities of Notes
• Summary of Significant Accounting Policies
• Completing the Financial Statements and the Notes

For Whom: Accountants, Accounting and Finance Professionals, Chief Accountants, Accounting Managers/Supervisors, Financial Controllers, Auditors, Investors, Stakeholders, Government Officials and any others who is interested in learning and updating their knowledge in preparation of financial statements and notes.