Course details
Introduction:
With the rapid developments in accounting standards, regulations, and industry practices, individuals need continuous training in order to keep abreast of all the changes. They also need to improve the quality of financial reporting by recording, reporting and disclosing regular and unusual business transactions. 'Financial Accounting and Reporting' is a course prepared and facilitated by professionals who not only master the theoretical facts of academia but who also have a solid and practical global experience.
Objectives:
By the end of the course, participants will be able to:
- List the basic financial statements and determine the best structure and presentation practices
- Recognize important periodical adjustments and their effect on financial statements
- Explain how to properly account for assets, liabilities, equity, revenues and expenses during recurrent and non-recurrent transactions
- Identify minimum disclosure requirements in the financial statements for major accounts of transactions
- Prepare financial statements starting from raw trial balance and ending with full comprehensive disclosures
Outline:
- Financial statements and business decisions
- The financial accounting cycle
- Four or five key financial statements
- Management uses of financial statements
- Relationship among financial statements
- Essential notes and disclosures to the financial statements
- Basis of preparation
- Accounting policies
- Related parties' transactions
- Contingencies
- Risk managements
- Subsequent event
- Simulation 1: reporting on general information, basis of preparation and significant accounting policies
- Revenue and expense recognition: applying the accrual basis
- Matching principle between revenues and expenses
- Other comprehensive income components
- Earnings per share reporting
- Simulation 2: mapping accounts and preparing income statement using Excel
- Simulation 3: creating income statement disclosures
- Minimum presentation requirements of balance sheet accounts
- Definitions of accounts in the balance sheet
- Correct presentation for statement of owners' equity
- Simulation 4: mapping accounts and preparing equity and balance sheet using excel
- Cash Flow Statement
- Exploring the three sections of a cash flow statements
- Direct versus indirect method of cash flow statement preparation
- Linking cash flow statements to notes
- Accounting adjustments
- Accruals and unearned revenues
- Prepayments and deferrals
- Accounting estimates
- Financial reporting for major accounts and transactions
- Measuring and reporting accounts receivable
- Estimating and accounting for bad debts
- Costs to be capitalized in inventory value
- Inventory cost flow assumptions
- Presenting inventory at lower of cost or net realizable value
- Simulation 5: hands-on preparation of disclosures on current assets
- Classifying, measuring and recording long lived assets
- Repairs, maintenance, and additions to long lived assets
- Depreciation and amortization
- Disposal of long-lived assets
- Accounting and reporting for intangibles
- Accounting for investments
- Passive investment, exercising significant influence or control
- Types of equity and debt investments
- Simulation 6: hands-on preparation of disclosures on non-current assets
- Definitions and classification of liability accounts
- Types of ownership and stock
- Accounting for capital and dividends
- Simulation 7: required disclosures on long-term obligations and equity
- Wrapping it up: linking notes to face of financial statements
Course Location
About Global Development for Training
Introduction:
Training has become of great importance to managers of various organizations and institutions where training is an effective way to increase employee's efficiency at all stages of his work. It develops his abilities, skills and provides him with new information which is an influential factor in the process of upgrading the employee and increases his authorities and responsibilities.
The last two decades have witnessed a major transformation in the training knowledge. It has become Knowledge-based science; it is the only way to progress and development.
The need of Knowledge-based science is now a scale of new wealth. It requires a distinct type of education and lifelong training in acquiring knowledge and updating on an ongoing basis. This was an important reason that led to establishment of Global Development for Training (G.D.T).
Establishment:
Global Development for Training was established in 2012 in UAE - Permit No. 91,288 in Dubai to provide training and consulting services and staff development with the latest training methods in the world and in line with the global market to meet all the strategic requirements of the global markets in an environment based on modern knowledge, through the best human development trainers in the Arab world and the rest of the world, to reach the highest level of quality, creativity and developing clients and participants.
Vision:
To be one of the best training centers in the world which train and qualify the leaders and staff of the Arab World with the latest training methods in the world.
Mission:
We seek to provide strong training base to provide training and consulting services that meet all the strategic requirements for global markets in an environment built on knowledge, and through professionals Instructors in the world. Therefore, we put our goals in order to reach the highest levels of quality and creativity.
See all Global Development for Training courses- Financial Reporting Diploma Compliance CentralAED 46Duration: Upto 4 Hours
- AED 154Duration: 1 To 2 Months
