Course Objectives

• This Course Objective Hasn't Been Provided Yet

Target Audience

Senior and junior accountants, accounting and finance professionals, chief accountants, accounting managers and supervisors, financial controllers and any accounting and finance professionals interested in learning and updating their knowledge regarding the preparation of financial statements and notes.

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)

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
• 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

1. Other adjustments and corrections
2. Preparing the adjusted trial balance

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

This course hasn't been scheduled yet, however you can request for In-House training