Advanced Financial Accounting

Advanced financial accounting is a further step into the world of accounting that takes into consideration accounting theory, non-profit accounting, consolidation, and foreign currency. In practice, it is detailed knowledge about accounting concepts that would set a company apart in how it generates income and conducts business.

The learning outcomes:

Upon successful completion of this course, you will be able to:

Prepare all types of financial statements required for decision making
Identify and describe different methods of analysing financial statements based on IFRS Standards
Record and analysis partnership, business combination and consolidation process based on IFRS
Solve accounting issues that arise from inter-entity related to tax and profit shifting
Demonstrate the ability to perform complex accounting techniques and methods as required by the relevant accounting standards
Read and analyse accounting statements
Write information disclosures and elimination entries
Learn professional cod and conduct of working as professional accountant

Prerequisites:

Learners must have a base in accounting fundamentals.

Who can attend:

The course is designed to improve your skills to understand future steps in accounting, explain concepts, and solve accounting issues in the real working condition.

Content:

Day one: Financial Accounting and Reporting, Entity Context-IFRS

Purpose of financial accounting and reporting
Tax relates profit shifting
Accounting statements for decision making
Overstating and understating profit and losses for tax purpose
Creative accounting, scandals, and fraud

Day two: Advanced Financial Statements

Statement of cash flow (aims structure and presentation)
Understanding business cash flow drivers
Translating Cash flow of investment decision
Cash flow forecasting techniques
The IFRS and IASB Conceptual Framework for Cash flow

Day three: Analyzing Financial Statement

Horizontal analysis
Vertical Analysis
Evaluate profitability through the Rations
Measuring and managing profitability
Measuring and managing liquidity
Predicting corporate distress and failure
Forecasting financial performance and financial position

Day four: Inventory, Leases and Consolidation

Overview of Inventory
Inventory methods LIFO, FIFO, Weighted average application
Cost of goods sold
Optimizing working capital
Finance Lessing and Operating intercompany transactions
Periodic and Perpetual Inventory Systems
Inventory Record Accuracy
Inventory Counting and Reconciliation
Estimating Ending Inventory
Standard Costing of Inventory

Day five: Fraud, and fraud prevention

Fraud Schemes
Fraud Examination
Fraud and Internal Control
Overstating Assets, Liabilities and Equity
Designing and Presenting Effective Financial Reports
Fraud prevention in financial statements
Limitations of financial reports
Designing effective internal business reports
Developing and using business dashboards
Making effective financial presentations

Day six: Related Party Disclosures

Steps for writing disclosure
Content of disclosure
IAS, and entity’s financial statements disclosures
IFRS, Joint Arrangements
Example of writing disclosure

Day seven: Consolidation – Wholly owned entities

Consolidation – Wholly owned entities
Consolidation – Intra-group transactions
Consolidation: Non-controlling interest
Consolidation: Controlled Entities

Day eight: Ethics and Skills for Accountants

Accountant manipulation for personal gain
Integrity
Objectivity
Professional competence and due care

The time and duration of the course:

Duration: 8 days
Time: 15:00 – 18:30 pm
Cost: $375

Delivery method

The training is fully practical, computer base real example, work through example, and exercises are main tasks. Booklet, handout, additional material will be given.

How do I register?

You can register by emailing training@mselect.com with the following details:

Full Name:
City/Town:
Email Address:
Phone number:
Name of the course: