Course Overview
This course builds a strong foundation in financial reporting concepts and methods in line with International Financial Reporting Standards (IFRS). Participants will learn to prepare and analyze financial statements, understand the mechanics of accounting transactions, and develop professional judgment in reporting. The training emphasizes balance sheets, income statements, equity, and cash flows while enhancing critical thinking in financial analysis. By the end, participants will be able to confidently engage in financial discussions and reporting processes.
Course Objectives
By the end of this course, participants will be able to:
Understand the importance of financial reporting in decision-making.
Prepare and analyze financial statements according to IFRS.
Apply the year-end closing process, including adjustments and provisions.
Interpret profit, cash flow, and equity movements.
Conduct ratio analysis and evaluate financial performance.
Recognize the role of external auditors in ensuring transparency and compliance.
Learning Outcomes
Participants will:
Prepare adjusted trial balances after year-end adjustments.
Determine accounting profit/loss and equity positions.
Develop and analyze organizational cash flows.
Manage the year-end closing process effectively.
Gain insights into balance sheet and income statement reporting.
Understand auditor roles and types of audit reports.
Perform comparative and ratio-based financial analysis.
Training Methodology
Delivered in line with IFRS standards.
Combination of short presentations, case studies, and practical exercises.
Group discussions and application of real-world financial reporting examples.
End-of-course exam to assess knowledge and application.
Course Content & Agenda
Session 1: The Conceptual Framework of Financial Reporting
Introduction to accounting and IFRS
Objectives of financial reporting
Qualitative characteristics of useful financial information
Key accounting principles and assumptions
Session 2: The Year-End Closing Process
Cash, inventory, accounts receivable/payable, fixed assets
Provisions and accruals
Preparing the trial balance
Session 3: Profit & Loss Statement
Structure and components of income statements
Comprehensive income concepts
Handling accounting changes and errors
Session 4: Balance Sheet & Changes in Equity
Elements and classifications of the statement of financial position
Preparing equity statements
Session 5: Cash Flow Statements
Direct and indirect methods
Preparing cash flow statements (indirect method)
Disclosures and notes to financial statements
Session 6: Financial Analysis & External Audit
Comparative financial analysis
Liquidity, activity, and profitability ratios
Role of the external auditor, types of reports, and comparison with internal audits
Session 7: Review & Integration
Comprehensive example of financial reporting and analysis
Group review and Q&A
Session 8: Final Exam
Payment
Fees must be paid 7 working days before the course starts.
Accepted methods: cash, bank transfer, or exchange offices.
Details
Time: 17:30 - 19:30
Language: English
Duration: 8 days
Location: Erbil
Fee.person: $200
Registration
To register, email training@mselect.com with:
Full Name
Position title
Email Address
Phone Number
Name of the Course
For more information, call 066 261 4455 or 0771 842 2380.