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Preparing Financial Statements and the Annual Report Course

INTRODUCTION

Financial statements and the annual report are key communication channels between companies and their different stakeholders. By attending this course, you will be able to prepare financial statements as per the International Financial Reporting Standards (IFRS) which will allow you to maintain your company's financial reporting transparency and credibility.

DURATION

10 Days

WHO SHOULD ATTEND?

  • Senior and junior accountants
  • Accounting and finance professionals
  • Chief accountants
  • Accounting managers and supervisors
  • Financial controllers

COURSE OBJECTIVES

At the end of this IRES training seminar, you will learn 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

TOPICS TO BE COVERED

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

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

METHODOLOGY

The instructor led trainings are delivered using a blended learning approach and comprise of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.

ACCREDITATION

Upon successful completion of this training, participants will be issued with an Indepth Research Services (IRES) certificate.

TRAINING VENUE

The training is residential and will be held at IRES training Centre. The course fee covers the course tuition, training materials, two break refreshments, lunch, and study visits.

All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.

ACCOMMODATION

Accommodation is arranged upon request. For reservations contact the Training Officer.

Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.   

Mob: +254 715 077 817

Tel: 020 211 3814

TAILOR- MADE

This training can also be customized for your institution upon request to a minimum of 4 participants. You can have it delivered in our training centre or at a convenient location.

For further inquiries, please contact us on Tel: +254715077817, +254(020) 211 3814 or mail This email address is being protected from spambots. You need JavaScript enabled to view it.

PAYMENT

Payment should be transferred to IRES account through bank on or before C.O.B. 28th October 2019.

Send proof of payment to This email address is being protected from spambots. You need JavaScript enabled to view it.

CANCELLATION POLICY

Payment for all courses includes a registration fee, which is non-refundable and equals 15% of the total sum of the course fee.

1.    Participants may cancel attendance 14 days or more prior to the training commencement date.

2.    No refunds will be made 14 days or less to the training commencement date. However, participants who are unable to attend may opt to attend a similar training at a later date, or send a substitute participant provided the participation criteria have been met.

Please Note: The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

Event Properties

Event Duration 10 Days
Event Date 04-11-2019
Event End Date 08-11-2019
Cut off date 28-10-2019
Individual Price(Kenyan) KES 139,000
Individual Price (International) EUR 1,592
Individual Price(International in Dollars) USD 1,853
Location Nairobi, Kenya
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