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Financial Accounting and Reporting

Financial Accounting 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.

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

Requirements

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.

Certification

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.

Professional Credits

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.

COURSE OUTLINE

Modules

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:
– Leases
– Depreciation
– 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

 

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