Financial Accounting and Reporting
Financial Accounting Reporting is a course prepared and facilitated by professionals who not only master the general facts of academia but who also have a reliable and practical global experience.
With the rapid developments in accounting standards, regulations, and industry practices, individuals need continuous training to keep abreast. They also need to improve the quality of financial reporting by recording, reporting and disclosing routine and unusual business transactions.
Accounting is the language of business. By attending this course, you will learn the essentials of accounting and those of reading and analyze financial statements. The course will equip you with the necessary knowledge to participate in the accounting activities of your organization and to understand and use debits and credits. You will also learn to record financial transactions and report them in financial statements.
This course is an intermediate level qualification that’s perfect if you’re already working in accounting and are looking to develop your skills. It’s also ideal if you’ve completed the Foundation Certificate/Level 2 Certificate in Accounting and want to continue your professional development.
It’ll give you real-world technical accounting knowledge that you can use in your job from day one.
You’ll master advanced bookkeeping and final accounts, and further your knowledge of spreadsheets for accounting. You’ll learn management costing techniques, and understand VAT issues in business. You’ll also cover professional ethics for accountants.
The course is accredited by the Association of Accounting Technicians (AAT), the UK’s most significant professional body for accounting technicians, so it’s internationally recognized and sought-after by employers.
There are a wide variety of accountancy courses available, so how should you go about choosing the right one for you?
Firstly, you should choose an accountancy course that is well known and respected by those working in the accountancy and finance profession. This means that once you’ve finished your accountancy course, employers will know you have the right skills to get the job done.
You should also choose an accountancy course that is internationally recognized.
The best kind of accountancy course provides you with the skills and knowledge relevant to any organization.
You should find an accountancy course provider that can help you choose the right employer to do your work experience with.
Choose an accountancy course with a proven reputation for quality and excellence.
Find out our wide range of Finance and Accounting courses options.
- COURSE TYPE Practitioner
- COURSE NUMBER
- DURATION 5 days
- COURSE ACCREDITED BY AAT
YOU WILL LEARN HOW TO
Set against a background of estimating you will explore the elements of project cost and how budgets are established. Working from first principles, cost build up and bills of quantities will be developed and tested using case studies. Contractor tender pricing processes and the effects of risk, value, and decision making on project costs will be explored.
IMPORTANT COURSE INFORMATION
You don’t need any prior experience or qualifications to enroll, making it perfect if you’re just starting out or if you need to bring useful financial knowledge to your current role.
Participants who fully attend this course and complete the test on the last day will receive a Strategic Axis Professional Certificate (SAPC). SAPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.
This course is worth 25 NASBA CPEs.
National Association of State Boards of Accountancy (NASBA): State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.
The course is accredited by the Association of Accounting Technicians (AAT), the UK’s largest professional body for accounting technicians, so it’s internationally recognized and sought-after by employers.
Where will you sit your assessments?
You can obtain AAT Certificate after successful assessment.
If you are studying via classroom learning you will sit your assessments with your AAT Approved training provider – Strategic Axis.
Module 1: Introduction to accounting
Understand the purpose of accounting (communicate not confuse)
Understand the accounting process and the accounting equation
Accounting regulatory bodies
International Financial Reporting Standards (IFRS)
Generally Accepted Accounting Principles (GAAP)
Understand debits and credits
Prepare the trial balance
Understand the balance sheet and income statement
Prepare the general ledger and general journal
Stakeholders and users of accounting information
Company structures and business activities
Accounting principles and guidelines
Module 2: Recording and presenting financial data
Prepare the cashbook, bank reconciliation, and petty cash journals
Prepare sales and purchases journals and reconciliations of debtors and creditors
Perform daily and monthly routines
Account for year-end adjustments
Extract a trial balance and draft a balance sheet and income statement
Module 3: Non-routine transactions and audit preparation
Account for non-routine transactions:
– Acquisition and disposal of assets
– Bad and doubtful debts
– Provisions and accruals
Understand year-end procedures for:
– Income Tax and Value Added Tax
– Fixed assets register
– Other year-end entries
Learn how to prepare for an audit and discover tips for saving on audit costs
Module 4: Financial tools for effective management
Understand financial terminology and concepts
Understand cash flow and working capital management
Learn how to calculate and use financial ratios for management decisions
Prepare budgets and cash flow forecasts
Understand the nature of costs and decision making using the behavior of costs
Evaluate the impact of costs on the bottom line
Gain an understanding of some of the more difficult financial decisions facing managers
Module 5: Indirect Tax
Understand and apply VAT legislation requirements
Accurately complete VAT returns and submit them in a timely manner
Understand the implications for the business of errors, omissions and late filing and payment
Report VAT-related information within the organization in accordance with regulatory and organizational requirements
Module 6: Advanced Bookkeeping
Apply the principles of advanced double-entry bookkeeping
Implement procedures for the acquisition and disposal of non-current assets
Prepare and record depreciation calculations
Record period end adjustments
Produce and extend the trial balance
Module 7: Spreadsheets for Accounting
Design and structure appropriate spreadsheets to meet customer needs
Use spreadsheet software to record, format and organize data
Use relevant tools to manipulate and analyze data
Use software tools to verify accuracy and protect data
Use tools and techniques to prepare and report accounting information
Module 8: Financial reporting for major accounts and transactions
Measuring and reporting accounts receivable
Estimating and accounting for bad debts
Costs to be capitalized in inventory value
Inventory cost flow assumptions
Presenting inventory at lower of cost or net realizable value
Simulation 5: hands-on preparation of disclosures on current assets
Classifying, measuring and recording long-lived assets
Repairs, maintenance, and additions to long-lived assets
Depreciation and amortization
Disposal of long-lived assets
Accounting and reporting for intangibles
Accounting for investments
Passive investment, exercising significant influence or control
Types of equity and debt investments
Simulation 6: hands-on preparation of disclosures on non-current assets
Definitions and classification of liability accounts
Types of ownership and stock
Accounting for capital and dividends
Simulation 7: required disclosures on long-term obligations and equity
Wrapping it up: linking notes to face of financial statements
In The Classroom
Private Team Training
Indiviual Private Session
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