Workshop on Financial Statements Preparation and Corporate Reporting

Program overview:

Financial statements provide various important financial information that helps investors, creditors and analysts evaluate a company’s financial performance while reporting helps management communicate the past successes and future expectations of the business.

This course on financial statement preparation and Reporting will help participants update their knowledge, and practical skills in financial accounting and corporate reporting following significant development in financial reporting in recent years.

This training program will provide a vital update on recent developments that focus on stakeholder value creation and the development of integrated reporting. It will also provide participants with useful excel skills in building financial ratio analysis tools, cash flow projection and dashboard reporting

For Whom:

This program is designed for financial accounting team members, accounting and finance professionals, chief accountants, accounting managers and supervisors, corporate communication and investor relations professionals, Strategic planning and head office team members, Financial planning and budgeting professionals, Investment analysts and advisers, financial controllers and any accounting and finance professionals interested in learning and updating their knowledge regarding the preparation of financial statements, notes and reporting

Learning objectives:

At the end of the program, participants will be able to:

• explain each part of the accounting cycle;
• design effective chart of accounts;
• perform accounting adjustments including deferrals and accruals;
• create trial balance and adjusted trial balance;
• describe and map charts of accounts to the financial statements;
• prepare and present income statements, balance sheets, and cash flow statements; and
• formulate notes to the financial statements.

Course outline:

Day 1: The accounting cycle

• Understanding the accounting cycle
  • Supporting documents
  • Analyzing transactions and recording in the system
• Preparing ledgers and General Ledgers (GL)
  • Converting the GL to Trial Balance (TB)
  • Types of adjusting entries
  • The Adjusted Trial Balance (ATB)
  • Mapping ATB to the financial statements
• Preparing financial statements
• Closing the books
• Preparing the Post-Closing Trial Balance (PCTB)

Day 2: Chart of accounts and design techniques

• Designing the chart of accounts
  • Maintenance of the chart of accounts
  • Analyzing the chart of accounts
• Reconciliations and important issues
  • Creating the trial balance

Day 3: Accounting adjusting entries

• Understanding deferrals
  • Deferred revenues and entries
  • Deferred expenses entries
• Working with accruals
  • Adjusting for accrued revenues
  • Accrued expenses entries
• Other adjustments and corrections
  • Preparing the adjusted trial balance

Day 4: Preparing financial statements and notes

• Mapping the adjusted trial balance to the financial statements
  • Preparing the income statements
  • Preparing the balance sheets
  • Preparing the cash flow statements
• Preparing the owners’ equity statements
  • Objectives of external audit
  • External audit versus internal audit
  • Reading and interpreting the audit opinion
  • Management Discussion and Analysis

 (MD&A)

• Notes to the financial statements
• Understanding the requirements for the notes
• Organization and activities of the notes
• Basis for preparation
• Summary of significant accounting policies
• Accounting convention
• Use of estimates
• Completing the financial statements and the notes

Day 5: Designing and Presenting Effective Financial Reports

• The limitations of financial reports
• Designing effective internal business reports
  • Incorporating Excel graphics in internal reports
  • Developing and using business dashboards
• Making effective financial presentations
  • Developments in Integrated Reporting (IR)
• Integrated Reports: purpose, structure, and presentation

Training Methodology

Lectures, discussions, exercises, case studies, audio-visual aids will be used to reinforce these teaching/learning methods. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.