Advanced Financial Statements Analysis and Reporting Course

Introduction:

In a global and increasingly competitive environment, the need for effective and enforced Corporate Governance and International Financial Reporting Standards (IFRS) is all too evident.

This advanced financial statements analysis and reporting program establishes the Case for Corporate Governance and International Financial Reporting Standards by examining inappropriate practices such as creative accounting and off-balance sheet financing and examining examples such as Enron and WorldCom, among others.

It evaluates and interprets financial reports prepared under IFRS. Financial expertise, particularly in advanced financial statement analysis and reporting, is essential for financial professionals who aspire to excel in today's business environment.

This advanced financial statements analysis and reporting course blends in-depth financial reporting and analysis knowledge with practical skills. The emphasis on financial statement analysis and reporting ensures that participants can apply these critical competencies in the workplace.

Targeted Groups:

• Finance Professionals.
• Accountants.
• Auditors.
• Persons who are interested in getting excellent knowledge to improve their career.

Course Objectives:

At the end of this advanced financial statements analysis and reporting course, the participants will:

• Become aware of the case for Corporate Governance and International Financial Reporting Standards.
• Identify the creative accounting methods adopted by companies when preparing their financial statements.
• Understand and appreciate the lessons Learned from accounting scandals such as the Enron and WorldCom cases.
• Gain an understanding of the Structure of IFRS.
• Become aware of the adoption of IFRS, current issues/IFRS convergence projects, and convergence problems.
• Present Financial Statements under IFRS.
• Balance sheet: statement of financial position.
• Income statement: statement of comprehensive income.
• Cash flow statement: statement of cash flows.
• Statement of changes in equity.
• Statement of recognized income or expense (SORIE).
• Notes, including a Summary of the Significant Accounting Policies.
• Gain an understanding of the major IFRS.
• Evaluate and analyze financial statements and the impact of IFRS.

Targeted Competencies:

Upon the end of this advanced financial statements analysis and reporting training, the participant's competencies will be able to:

• Understand financial statement accounts.
• Financial reporting for account balances and transactions.
• Apply IFRS.
• Describe updates and amendments.
• Account for assets.
• Account for liabilities.

Course Content:

Unit 1: Corporate Governance and International Financial Reporting Standards (IFRS):

• Establish the Case for Corporate Governance and International Financial Reporting Standards.
• Creative Accounting and Off-Balance Sheet Finance.
• Enron and Other Accounting Scandals and the Lessons Learned.
• Corporate Governance and Corporate Social Responsibility.
• The Problems of Convergence.

Unit 2: The Structure of IFRS:

• International Financial Reporting Standards.
• International Accounting Standards.
• Interpretations.
• Standing Interpretations Committee.
• Adoption of IFRS.
• Current Issues/IFRS Convergence Projects.

Unit 3: The Framework for the Preparation and Presentation of Financial Statements:

• Purpose and Status.
• Scope.
• Objective.
• Underly Assumptions.
• Qualitative Characteristics of Financial Statements.
• Elements of Financial Statements.
• Recognition of Elements of Financial Statements.
• Measure the Elements of Financial Statements.

Unit 4: Introduction to Financial Reports:

• Financial reports based on IFRS include IAS 1, IFRS 1, IAS 8, IAS 10, IAS 18, and IFRS 8.
• Balance sheet: statement of financial position.
• Income statement: statement of comprehensive income.
• Cash flow statement: statement of cash flows.
• Statement of changes in equity.
• Statement of recognized income or expense (SORIE).
• Notes, including a Summary of the Significant Accounting Policies.

Unit 5: Financial Reports in Detail 1:

• IAS 1 Presentation of Financial Statements.
• IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.
• IAS 10 Events after the Balance Sheet Date.
• IAS 18 Revenue.
• IAS 23 Borrowing Costs.
• IAS 16 Property, Plant, and Equipment.
• IAS 17 Leases.
• IAS 7 Cash Flow Statements.

Unit 6: Financial Reports in Detail 2:

• IFRS 3 Business Combinations.
• IAS 27 Consolidated and Separate Financial Statements.
• IAS 36 Impairment of Assets.
• IAS 37 Provisions, Contingent Liabilities, and Contingent Assets.
• IAS 38 Intangible Assets.
• IAS 39 Financial Instruments: Recognition and Measurement.
• IFRS 7 Financial Instruments: Disclosures.
• The structure and content of the annual report and an organization's accounts notes of explanation.
• A review of annual reports and accounts from around the world.

Unit 7: The Analysis of Accounting Information:

• The fundamentals of ratio analysis:
  • Who?
  • Why?
  • What?
  • When?
• Common size statements.
• Rates of change statements and ratios.

Unit 8: Tips for Analysing Financial Reports Using Excel Spreadsheet:

• Formulas.
• Financial functions.
• Data Analysis ToolPak.
• Graphing/charting data.

Unit 9: Comprehensive Review of Financial Reporting Information:

• Working capital and cash flow management.
• Debtors (accounts receivable).
• Creditors (accounts payable).
• Capital structure.

Unit 10: Using Techniques:

• Z Score and similar techniques.
• Statistical and regression analysis.
• Case studies.