Course details
During this course, participants will learn the latest accounting standards used in preparing company’s financial statements and its amendments. Participants will also acquire the skills required to work with various components of the company’s financial statements, understand the underlying accounting treatment and confirm their credibility.Course Description:
During this course, participants will learn the latest accounting standards used in preparing company’s financial statements and its amendments. Participants will also acquire the skills required to work with various components of the company’s financial statements, understand the underlying accounting treatment and confirm their credibility.
Course Objectives:
- Define accounting standards and their importance
- Prepare cash flow statements
- Use the different methods of inventory cost accounting
- Explain fixed asset measuring concepts and depreciation methods
- Define the revenue recognition concepts
- Illustrate special accounting treatment items
Course Outline:
Module 1: Introduction to Companies’ Accounting Standards
- Types of companies
- The importance of accounting standards
- Financial statements
- Consolidated and separate financial statements
- Subsequent events of balance sheet date
- Case studies
Module 2: Cash Flow
- The concept of cash inflows and outflows
- Preparation of cash flow statement
- Case studies
Module 3: Inventory
- The concept and components of inventory
- Methods of inventory cost accounting
- Case studies
Module 4: Fixed Assets and its Depreciation
- The concept and components of fixed assets
- Depreciation methods
- Case studies
Module 5: Revenue
- Revenue
- Interests, royalties, dividends
- Case Studies
Module 6: Special Accounting Treatment
- Accounting policy changes, accounting estimates and errors.
- The impact of changes in foreign currency exchange rates
- Cost of borrowing
- Financial investments
- Case studies
Assessment Strategy:
Participants will be informally assessed on their interaction during sessions and their participation in exercises
Updated on 08 November, 2015Course Location
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