Annual Report and Financial Statements Preparation
INTRODUCTION
Financial statements are a key component of the annual report and provide its users with quantitative data regarding specific aspects of its financial performance in the previous fiscal year. Annual reports typically include financial statements, such as balance sheets, income statements, cash flow statements and information regarding its future performance in order to provide shareholders with information on the company s future goals and objectives.
This course is a full introduction to the basics of financial reporting, giving you the skills to perform well in a finance or accounting position within any business. You will gain an understanding of the essential principles of financial statements, including the nature of double entry accounting and its operation, regulation, and required presentation to meet UK and International Financial Reporting Standards (IFRS). which will allow you to maintain your company s financial reporting transparency and credibility.
OBJECTIVES
By the end of the Annual Report and Financial Statements Preparation Course, participants will be able to:
Explain each part of the accounting cycle
Design an 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
WHO SHOULD ATTEND ?
This Annual Report and Financial Statements Preparation Course is ideal for: 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.
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
The Cash Cycle
Cash versus profit.
The flow of money in and out of a company. How this is managed and controlled.
Customers & Suppliers: The collection and payment processes. Where finance comes from.
Basic cash flow statements.
Day 3
Chart of Accounts and Design Techniques
Designing Chart of Accounts
Maintenance of Chart of Accounts
Analyzing 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
Day 4
Preparing Financial Statements and Notes
Mapping the Adjusted Trial Balance to the Financial Statements
Preparing Income Statements
Preparing Balance Sheets
Preparing Cash Flow Statements
Preparing the Equity Statements
Reading and Interpreting the Audit Opinion
Day 5
Notes to the Financial Statements
Understanding the Requirements for the Notes
Organization and Activities of Notes
Basis for Preparation
Summary of Significant Accounting Policies
Accounting Convention
Use of Estimates
Completing the Financial Statements and the Notes
IN-HOUSE TRAINING
LPC Training is capable of conducting this training programme exclusively for your delegates. Please e-mail us on admin@lpcentre.com for further information and/or to receive a comprehensive proposal.
www.lpcentre.com
DOCUMENTATION
LONDON
Oxford Street Offices: London - Oxford Street
High-Quality material has been prepared by the LPC team for distribution to delegates. In addition, a special note pad to facilitate note-taking will be provided.
25 N Row, London W1K 6DJ
T: +44 (0) 20 80 900 464
CERTIFICATES
West London Office: 47 49 Park Royal Road
London NW10 7LQ
Accredited Certificate of completion will be issued to those who attend & successfully complete the programme.
SCHEDULE
Our Course timings commence at 09:00 and conclude at 13:00.
REGISTRATION & PAYMENT
T: +44 (0) 20 80 900 464
E: info@lpcentre.com
DUBAI Business Bay - Marasi Drive
Churchill Tower commercial 1, Office 107
T: +971 4 421 4616
Please complete the registration form on the course page & return it to us indicating your preferred mode of payment. For Further Information, please get in touch with us.
KUALA LUMPUR
CANCELLATION AND REFUND POLICY
Delegates have 14 days from the date of booking to cancel and receive a full refund or transfer to another date free of charge. If less than 14 days notice is given then we will be unable to refund or cancel the booking unless on medical grounds.
For more details about the Cancellation and Refund policy, please visit www.lpcentre.com/terms-and-conditions/
No. 03-06-05, UOA Business Park, Jalan Pengaturcara U1/51A, Section U1, Kawasan Perindustrian Temasaya, 40150 Shah Alam, Selangor
T: +60 19-305 5694
TRAVEL AND TRANSPORT
We are committed to picking up and dropping off the participants from the airport to the hotel and back.
www.lpcentre.com
www.lpcentre.com