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Advanced Financial Accounting

Fee 375

Start

Monday, 9 October 2023

End

Thursday, 19 October 2023

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

  1. Purpose of financial accounting and reporting

  2. Tax relates profit shifting

  3. Accounting statements for decision making

  4. Overstating and understating profit and losses for tax purpose

  5. Creative accounting, scandals, and fraud

 

Day two: Advanced Financial Statements

  1. Statement of cash flow (aims structure and presentation)

  2. Understanding business cash flow drivers

  3. Translating Cash flow of investment decision

  4. Cash flow forecasting techniques

  5. The IFRS and IASB Conceptual Framework for Cash flow

 

Day three: Analyzing Financial Statement

  1. Horizontal analysis

  2. Vertical Analysis

  3. Evaluate profitability through the Rations

  4. Measuring and managing profitability

  5. Measuring and managing liquidity

  6. Predicting corporate distress and failure

  7. Forecasting financial performance and financial position

 

 

Day four: Inventory, Leases and Consolidation

  1. Overview of Inventory

  2. Inventory methods LIFO, FIFO, Weighted average application

  3. Cost of goods sold

  4. Optimizing working capital

  5. Finance Lessing and Operating intercompany transactions

  6. Periodic and Perpetual Inventory Systems

  7. Inventory Record Accuracy

  8. Inventory Counting and Reconciliation

  9. Estimating Ending Inventory

  10. Standard Costing of Inventory

 

 

Day five: Fraud, and fraud prevention

  1. Fraud Schemes

  2. Fraud Examination

  3. Fraud and Internal Control

  4. Overstating Assets, Liabilities and Equity

  5. Designing and Presenting Effective Financial Reports

  6. Fraud prevention in financial statements

  7. Limitations of financial reports

  8. Designing effective internal business reports

  9. Developing and using business dashboards

  10. Making effective financial presentations

 

 

Day six:  Related Party Disclosures

  1. Steps for writing disclosure

  2. Content of disclosure

  3. IAS, and entity’s financial statements disclosures

  4. IFRS, Joint Arrangements

  5. Example of writing disclosure

 

Day seven: Consolidation – Wholly owned entities

  1. Consolidation – Wholly owned entities

  2. Consolidation – Intra-group transactions

  3. Consolidation: Non-controlling interest

  4. Consolidation: Controlled Entities

 

Day eight: Ethics and Skills for Accountants

  1. Accountant manipulation for personal gain

  2. Integrity

  3. Objectivity

  4. 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: