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Financial Accounting and Reporting

Program Objectives:

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

  • Understand important financial accounting topics and how to report them on the financial statements.
  • Properly account for assets, liabilities, equity, revenues and expenses.
  • Understand the annual report, management responsibilities for financial statements and auditors opinion.
  • Fully understand the structure, presentation and disclosure of the financial statements.
  • Interpret and report income and balance sheet accounts.
  • This Program is designed for:

    Professionals in the field of finance and accounting, accountants at all levels seeking to enhance practical finance and accounting knowledge, certified financial and accounting personnel. Minimum requirement: basic understanding of accounting or completion of Principles of Accounting.

    Program Outline:

    Financial Statements and Business
    Reporting and Interpreting Property,
    Plant and Equipment; Natural Resources
    and Intangibles
  • Accounting Systems
  • Four Key Financial Statements
  • Relationship among the Financial Statements
  • Management Uses of Financial Statements
  • Classifying Long-Lived Assets
  • Measuring and Recording
  • Accounting for Repair, Maintenance, and Additions
  • Depreciating and Amortization
  • Accounting for Disposal of Assets
  • Reporting and Accounting for Intangibles
  • Reporting and Interpreting Sales
    Revenue, Receivables and Cash
    Reporting and Interpreting Owners
  • Accounting for Sales Revenues and Discounts
  • Measuring and Reporting Receivables
  • Cash and Cash Equivalents
  • Ownership of a Corporation
  • Types of Capital Stock
  • Accounting for Capital Stock
  • Stock Splits and Dividends
  • Treasury Shares
  • Reporting and Interpreting Cost of
    Goods Sold and Inventory

    Reporting and Interpreting Investments
    in Other Corporations

  • Nature of Inventory and Cost of Goods Sold
  • Inventory Costing Methods
  • Inventory Systems

  • Types of Investments
  • Accounting for Investments
  • Fair Value and Equity Methods
  • Reporting and Interpreting Liabilities
  • Liabilities Defined and Classified
  • Contingent Liabilities
  • Pre-requisites

    Duration : 4 days

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