Financial Accounts and Reports

Day 1: Introduction to Financial Accounting & Reporting

• The role and purpose of financial accounting in business.
• Overview of financial statements and their importance.
• Principles of accounting: Accrual vs. Cash basis, double-entry system.
• Introduction to International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP).

Day 2: Delving into the Balance Sheet (Statement of Financial Position)

• Components of the balance sheet: assets, liabilities, and equity.
• Classification and valuation of assets: current vs. non-current, tangible vs. intangible.
• Understanding liabilities: short-term vs. long-term, contingent liabilities.
• Equity: capital, retained earnings, and reserves.

Day 3: Income Statement (Profit and Loss) and Statement of Cash Flows

• Structure and elements of the income statement: revenues, costs, gains, and losses.
• Analysing operating, investing, and financing activities in the cash flow statement.
• Importance of cash flow in assessing liquidity and solvency.
• Practical exercises in preparing income and cash flow statements.

Day 4: Analysing and Interpreting Financial Reports

• Financial ratios: liquidity, solvency, profitability, and efficiency ratios.
• Trend analysis and benchmarking.
• Using financial statements for business forecasting and budgeting.
• Case studies: Interpretation and analysis of real-world financial statements.

Day 5: Regulatory Environment and Future of Financial Reporting

• Overview of key regulatory bodies and their roles.
• Compliance with IFRS, GAAP, and other financial reporting standards.
• Ethical considerations in financial reporting.
• The future of financial reporting: automation, AI, and predictive analytics.
• Course wrap-up, feedback, and evaluations.