Course: Financial Accounting & Reporting

This interactive seminar will develop an understanding of the importance of financial reporting in business. It will consider how the Annual Report provides an opportunity for the management of a company to account for their actions to the stockholders. The seminar will consider the framework imposed by accounting and financial reporting standards, corporate legislation, and the requirements of stock markets around the world. The implications of recent financial scandals in the USA, and how these have prompted the strengthening of corporate governance around the world will be discussed.The seminar will also consider the ways in which internal reporting contributes to the control of costs, identification and correction of problems, and how to make and implement profitable decisions.HighlightsThe formats and structures of company annual reports, and how to read and understand them.The generally accepted accounting principles that are applied in the U.S. and EuropeInternational rules of corporate governanceTools and techniques to evaluate business performance, and to predict future problems.The evaluation of new investment proposals – will they add value to your organisation?ObjectivesAt the end of this seminar participants will:The evaluation of new investment proposals – will they add value to your organisation?Understand and use analytical tools and techniques in practical case-study situations.Appreciate the importance of new investments in maintaining growth and competitiveness, and how these investments should be evaluated.Identify the role of accounting standards in the communication of financial resultsApply key accounting standards to their respective enterprisesUnderstand the role of auditTraining MethodologyThe seminar will be conducted along workshop principles with formal lectures, case studies and interactive worked examples. Relevant case studies will be provided to illustrate the application of each technique in an operational environment. Each learning point will be re-inforced with practical exercises. Discussion in groups will promote exchange of concepts and ideas.Organisational ImpactWhat will your organisation gain from sending employees to attend this seminar?Confidence in understanding financial position and performanceAwareness of the causes of accounting scandals, and how to avoid themUnderstanding of the importance of corporate governanceUnderstanding of the tools and techniques that can monitor and improve performanceAbility to identify problem areas, and suggest realistic solutionsAbility to evaluate and select new investments that will generate growth and meet the stockholders’ expectations.Personal ImpactWhat will the employee gain from attending this seminar?Exchange of ideas and knowledge with other professionalsIncreased awareness of techniques in financial analysis and capital appraisalBetter understanding of the language of finance and accountingKnowledge and understanding of business riskIncreased ability to identify problem areasIncreased confidence to tackle new situationsWho Should Attend?Financial Officers, Controllers and TreasurersProfessionals responsible for financial reportingAccountants, Project Professionals, Budget AnalystsAnyone with an interest in financial reportingSEMINAR OUTLINEDAY 1 : Financial Reporting and Corporate GovernanceBusiness objectives and shareholder wealthThe users of financial informationThe role of accounting in financial reportingKey financial statements, their nature and purposeThe conceptual framework of accounting and financial reportingIntroduction to accounting standardsThe development of accounting standardsInternational financial scandalsThe agency problemThe role of auditThe need for corporate governanceCorporate governance in the UK, US, and in GCC countriesThe Balance SheetShareholders equityCurrent and non-current assetsCurrent and non-current liabilitiesWorking capitalPreparing the balance sheetWhat does the balance sheet tell us?What are its limitations?Accounting terminologyDAY 2 : Accounting Systems, Reporting and DecisionsPreparation of the Income StatementCalculation of profitCategories of income and expenditureValuation of current and non-current assetsThe format of the Income Statement and Balance SheetThe link between cash and profitThe link between asset valuation and profitInventory, receivables, payables, and cashThe application of judgementThe nature and purpose of working capitalManagement accounting and cost-volume-profit (CVP) analysisThe impact of volume and sales changes on cost structuresThe limitations of break-even analysisDAY 3 : Cash Flow and Investment AppraisalThe purpose of the Cash Flow Statement, and its contentsThe preparation and presentation of the Cash Flow StatementSources and uses of cashThe link between the Cash Flow Statement, the Balance Sheet, and the Income StatementThe Cash Flow Statement as a predictor of future performanceInterest rates and the time value of moneyDiscounting and compound