Preparing Financial Statements and the Annual Report


17 - 21 Apr, 2023


to be determined

Why Attend?

Preparing Financial Statements and the Annual Report

course-obj_img Course Objectives

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    By the end of the course, 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
    • Formulate notes to the financial statements

course-obj_img 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

2023 - Course Type & Date

DATE: 17 - 21 Apr, 2023

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