Best Practice in Financial Accounting, Reporting and Business Support for Accountants

• Understand the role of financial reporting in managing business performance
• Prepare financial statements in accordance with IASB standards
• Critically analyse and interpret financial statements and reports
• Assist in developing Integrated Reports for your own organisation
• Apply practical Excel skills in reporting and forecasting

CONTENT

Financial Accounting and Reporting – Business Context and Key Principles

• Purpose of Financial Accounting and Reporting
• Key Principles in Corporate Governance
• Understanding the Value Creation Process
• Building a Winning Business Model
• Key Concepts in Financial Accounting
• Structure of Financial Accounting Systems
• Fundamentals of Financial Reporting
• Creative Accounting, Scandals and Fraud

Framework, Structure and Format: Income Statement and Balance Sheet

• The IASB Conceptual Framework
• Key International Accounting and Reporting Standards (IAS and IFRS)
• Income Statement: Purpose, Structure and Format
• Key IAS and IFRS Relevant to the Income Statement
• Balance Sheet: Purpose Structure and Format
• Key IAS and IFRS Relevant to the Balance Sheet
• Provisions, Revaluation and Post Balance Sheet Events

Structure and Format: Cash flow Statement and Group Accounts

• Business Cash flow Drivers
• Equity Capital, Debt Capital and Working Capital
• Cash flow Statement: Structure and Format
• Key IAS and IFRS Relevant to the Cash flow Statement
• Cash flow Forecasting Methods
• Groups of Companies: Subsidiaries and Associates
• Group Accounts: Structure and Format
• Key IAS and IFRS Relevant to Group Accounts

Analysis and Interpretation of Financial Statements

• The Purpose of Financial Statement Analysis
• A Systematic Approach to Financial Analysis
• Basic Techniques: Vertical and Horizontal Analysis
• Financial Ratio Analysis using Excel
• Using the Pyramid of Ratios to Manage Profitability
• DuPont Analysis and Shareholder Value
• Predicting Corporate Failure
• Forecasting Financial Statements

Developments and Best Practice in Financial Reporting

• Limitations of Financial Statements
• Developments in Integrated Reporting (IR)
• Purpose, Structure and Format of Integrated Reports
• Designing Internal Financial Reports in Excel
• Incorporating Excel Graphics-in to Internal Reports
• Developing and using Scorecards and Dashboards

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.