Financial Reporting

Location Erbil

Fee 350


Monday, 17 June 2024


Thursday, 27 June 2024

Course overview

Earn a strong foundation in financial reporting concepts and methods, and use your skills to prepare and analyse financial statements. This course will provide you with a strong understanding of the conceptual foundations and mechanics of International Financial Reporting Standards (IFRS). The course focuses on the measurement and reporting of the asset side of the balance sheets as well as the measurement of revenues and expenses on income statements. Participants should be familiar with basic accounting terminology, T-accounts, and journal entries. The course focuses on the financial transactions and activities of a business, together with the accounting measurements and journal entries used to measure and report these transactions. You will develop professional judgment and critical thinking skills. Financial Reporting will help you become more fluent in accounting discussions.

Course Objectives
  • Be able to outline the importance of financial reporting.

  • Have the knowledge to determine the various levels of profit.

  • Learn more about the cash flow statement and its uses.

  • Acquire more information about the statement of changes in equity and its uses.

  • Gain proficiency in the analysis of annual reports.

  • Gain a stronger understanding about ratio analysis and its importance.

Learning Outcomes
  • Prepare the adjusted trail balance after making all the adjusting entries resulted from the year-end closure process.

  • Determine the accounting profit/loss for the financial year.

  • Determine the rights of the company owner at the end of the financial year.

  • Develop and analyse the cash flow of the organisation.

  • Define the external auditor rule.

  • Manage and arrange the year-end closing process effectively.

  • Gaining insight into the informational aims and content of a balance sheet.

Training Methodology
  • The course will be presented in accordance with International Financial Reporting Standards (IFRS).

  • A mix of interactive techniques, such as brief presentations, application of theories and group exercises to exchange experience and apply knowledge acquired throughout the course.


​Session 1: The conceptual Framework for the Financial Reporting

  • Introduction to the accounting.

  • The Objective of General Purposes for Financial Reporting.

  • Qualitative Characteristics of Useful Financial Information.

  • Accounting Principles & Assumptions.

  • Financial Statement According to IFRS

Session 2: End Closing Process

  • Understanding the Year-end concept in accounting

  • Cash & Cash Equivalents

  • Inventory

  • Accounts Receivables

  • Fixed Assets / PPE

  • Accounts Payables

  • Accruals and Provisions

  • Trail Balance

Session 3: Statement of Profit and Loss and Other Comprehensive Income

  • Elements of Profit and Loss and Other Comprehensive Income

  • Intermediate Components of Statement of Profit and Loss and Other Comprehensive Income

  • Preparation of Statement of Profit and Loss and Other Comprehensive Income

  • Accounting for Changes in Accounting Principles, Estimates and Errors

Session 4: Statement of Financial Position (Balance Sheet) & Changes in Equity

  • Elements of Statement of Financial Position.

  • Classification of Statement of Financial Position.

  • Preparation of Statement of Financial Position.

  • Elements of Statement of Changes in Equity

  • Preparation of Statement of Changes in Equity

Session 5: Statement of Cashflows

  • Classification of Cash transactions

  • Direct and Indirect method

  • Preparation of statement of cash flow according to indirect method

  • Additional Notes & Disclosures to the Financial Statements

Session 6: Introduction to Financial Analysis & The Rule of External Auditor

  • Comparative Financial Analysis

  • Liquidity Ratios

  • Activity Ratios

  • Profitability Ratios

  • The rule of External Auditor

  • Types of External Auditor Reports

  • External vs Internal Auditor

Session 7: Final Review

  • Comprehensive example

  • Q & A

Session 8: Exam

​About Trainer

Khaled Sairafe is a highly qualified accounting professional with a decade of senior auditing and accounting positions within public and private organisations.

Qualifications include:

Masters in Accounting (Damascus University), Bachelor in Accounting (Damascus University), CMA (Management Accountant from the Institute of Management Accountants), CIA (Certified Internal Auditor from the Institute of internal Auditors), SCA (Syrian Charted Accountant from the Association of Syrian Charted Accountants).

Time Schedule
  • Duration: 8 days

  • Time: 17:30 – 20:30

  • Sunday – Wednesday, 4 days a week.


Must be made 7 working days before the start of the course. Payment can be made in cash, by bank transfer or through exchange offices.


You can register by emailing with the following details:

  • Full Name:

  • City/Town:

  • Email Address:

  • Phone number:

  • Name of the course:

For more information, please call or WhatsApp us on +964 (0)772 617 5794