Preparing Financial Statements and the Annual Report

Preparing Financial Statements and the Annual Report

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Program Objectives:
By the end of the program, participants will be able to:
  • Practically apply each part of the accounting cycle.
  • Perform accounting adjustments including deferrals and accruals.
  • Create trial balance and adjusted trial balance.
  • Map chart of accounts to the financial statements.
  • Prepare and present income statements, balance sheets, and cash flow statements.
  • Formulate notes to the financial statements.
Who should attend:
Accountants, senior and junior accountants, accounting and finance professionals, chief accountants, accounting managers and supervisors, financial controllers and any accounting and finance professionals interested in learning and updating their knowledge in preparation of financial statements and notes.
Program Outline
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 Chart of Accounts
  • Maintenance of Chart of Accounts
  • Analyzing 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 Income Statements
  • Preparing Balance Sheets
  • Preparing Cash Flow Statements
  • Preparing the Equity Statements
  • Reading and Interpreting the Audit Opinion
Notes to the Financial Statements
  • Understanding the Requirements for the Notes
  • Organization and Activities of Notes
  • Basis for Preparation
  • Summary of Significant Accounting Policies
  • Accounting Convention
  • Use of Estimates
  • Completing the Financial Statements and the Notes

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Date And Time

2022-05-02 @ 09:00 AM to
2022-05-06 @ 02:00 PM

Event Category

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