Accounting Standards and Practices

Overview
Course Outline
Scheduled Dates

Course Overview

Understanding accounting standards and practices is essential for anyone involved in the financial health of a business. This comprehensive 5-day program equips you with a solid foundation in the core principles, applications, and complexities of accounting standards in today's business world. Through interactive lectures, case studies, hands-on exercises, and group discussions, you will understand financial statements clearly, interpret accounting data accurately and apply accounting principles to real-world scenarios.

Objective:

Gain a comprehensive understanding of the Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) framework.
Master the key components of financial statements, including the balance sheet, income statement, cash flow statement, and statement of changes in equity.
Learn to analyse financial statements effectively to assess a company's financial performance and position.
Develop skills for applying accounting standards to various business transactions, such as revenue recognition, inventory valuation, and asset depreciation.
Explore advanced accounting topics like intangible assets, leases, and financial instruments.
Understand the impact of accounting policies and estimates on financial statements.
Develop critical thinking skills to identify and address potential accounting issues and inconsistencies.
Gain insights into the evolving regulatory landscape and the role of accounting standards setters.
Learn best practices for internal controls and financial reporting to ensure accurate and reliable financial information.

Course Outline

Day 1: The Foundational Framework

Introduction to Accounting Standards: Understanding the importance of accounting standards and the regulatory environment.
Exploring GAAP and IFRS: Comparing and contrasting the two main accounting frameworks.
Understanding the Conceptual Framework: Grasping the underlying concepts and principles that guide accounting standards.

Day 2: Deciphering Financial Statements

The Balance Sheet: Learning to analyse assets, liabilities, and shareholder equity.
The Income Statement: Understanding revenue recognition, expenses, and net income.
The Cash Flow Statement: Exploring cash flow from operating, investing, and financing activities.
The Statement of Changes in Equity: analysing changes in shareholder equity over a period.

Day 3: Applying Accounting Standards to Transactions

Revenue Recognition: Understanding the different revenue recognition methods and their application.
Inventory Valuation: Exploring various inventory costing methods and their impact on financial statements.
Property, Plant, and Equipment (PPE): Learning about asset depreciation and impairment.
Intangible Assets: Understanding the accounting treatment of intangible assets like goodwill and patents.

Day 4: Advanced Accounting Topics

Leases: Learning to distinguish between operating and capital leases and their accounting implications.
Financial Instruments: Understanding the classification and accounting treatment of financial instruments.
Earnings Management: Exploring strategies for managing earnings and identifying potential red flags in financial statements.

Day 5: Maintaining Integrity & Looking Forward

Internal Controls & Financial Reporting: Learning best practices for accurate and reliable financial reporting.
The Evolving Regulatory Landscape: Understanding how changes in accounting standards can impact financial reporting.
The Future of Accounting: Exploring emerging trends in accounting technology and their impact on the profession.

Schedule & Fees

3 For 2Offer

Get the most out of group training with our special discount! Register 3 of your participants together on the same course and only pay for 2.

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Location

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Amsterdam
Barcelona
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London

$4,900

Duration: 5 Days

date: 25 - 29 Nov 2024

Amsterdam

$5,300

Duration: 5 Days

date: 06 - 10 Jan 2025

Dubai

$4,900

Duration: 5 Days

date: 03 - 07 Feb 2025

Kuala Lumpur

$6,100

Duration: 5 Days

date: 03 - 07 Mar 2025

Vienna

$5,300

Duration: 5 Days

date: 05 - 09 May 2025

London

$4,900

Duration: 5 Days

date: 02 - 06 Jun 2025

Barcelona

$5,300

Duration: 5 Days

date: 07 - 11 Jul 2025

Paris

$5,300

Duration: 5 Days

date: 04 - 08 Aug 2025

London

$4,900

Duration: 5 Days

date: 06 - 10 Oct 2025

Finance and Accounting

Accounting Standards and Practices

Duration:5 Days

date:02 - 06 Jun 2025

London

$4,900

CPD Standards

Employees of professional or formally regulated bodies are generally expected to have CPD accredited training. This type of accreditation ensures that the training is knowledgeable, informed and constantly updated. It ensures our standards as a company are kept high and consistent.

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Frequently Asked Questions

How can training courses be used as a company benefit?

Training is hugely beneficial to both yourself and your company. It enables you to employ new technologies, increases your productivity and enables you to be more autonomous. Have a look here at our infographic on the importance of training and development!

How often do you update your course content to ensure relevancy?

Our course content is constantly reviewed and updated to ensure we stay up to date with all the latest trends. After every course is completed we review the feedback and improve the material where necessary.

Do you keep your classroom environment and instructional methodologies current with today’s real-world workplace?

Yes, we focus our training on ‘real-world’ scenarios and our trainers are all highly experienced and skilled in their relevant fields.

Are your courses eligible for professional certification?

Yes, we offer certification with all our courses, every course is entitled to CPD (Continuous Professional Development) hours which you can put towards your professional portfolio.

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