Preparing Financial Statements and the Annual Report
5 DaysPreparing Financial Statements and the Annual Report - Virtual Learning
Course Methodology
This course covers theoretical core topics in addition to introducing Excel for the preparation of financial statements. It also features the study of real life cases and presentations by participants.
Course Objectives
By the end of the course, participants will be able to:
- Explain each part of the accounting cycle
- Design effective chart of accounts
- Perform accounting adjustments including deferrals and accruals
- Prepare and present income statements, balance sheets, and cash flow statements
- Formulate notes to the financial statements
Target Audience
Senior and junior accountants, accounting and finance professionals, chief accountants, accounting managers and supervisors, financial controllers and any accounting and finance professionals interested in learning and updating their knowledge regarding the preparation of financial statements and notes.
Target Competencies
- Understanding the accounting cycle
- Designing chart of accounts
- Performing accounting adjusting entries
- Preparing and analyzing income statements
- Preparing and analyzing balance sheets
- Preparing and analyzing cash flow
- Reviewing and understanding financial statements notes
- Understanding the annual report components
Course Outline
- The ِAcounting Cycle
- Understanding the accounting cycle
- Supporting documents
- Analyzing transactions and recording in the system
- Preparing ledgers and General Ledgers (GL)
- Types of adjusting entries
- Preparing financial statements
- Closing the books
- Chart of Accounts and Design Techniques
- Designing the chart of accounts
- Maintenance of the chart of accounts
- Analyzing the chart of accounts
- Reconciliations and important issues
- Creating the trial balance
- Accounting Adjusting Entries
- Understanding deferrals
- Deferred revenues entries
- Deferred expenses entries
- Adjusting for accrued revenues
- Accrued expenses entries
- Preparing the adjusted trial balance
- Preparing Financial Statements and Notes
- Mapping the adjusted trial balance to the financial statements
- Preparing the income statement
- Preparing the balance sheet
- Preparing the cash flow statement
- Preparing the owners' equity statement
- Objectives of external audit
- Management Discussion and Analysis (MD&A)
- Notes To the Financial Statements
- Understanding the requirements for the notes
- Organization and activities of the notes
- Basis for preparation
- Summary of material accounting policy information
- Accounting convention
- Use of estimates
- Completing the financial statements and the notes
Mawred Certificate
Mawred Certificate courses by Al mawred Training & Consulting are designed for those willing to challenge themselves and go the extra distance...
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Virtual Schedule
Classroom Schedule
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