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UK Europe EMEA GCC Time Zones
CPEs: 24
Instructor: Risk Reward Faculty
Level: Introductory / Refresher
Tuition: £2,995.00
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NEW Financial Accounting BSL014

Location: UK Europe EMEA GCC Time Zones

Duration: 3 days

Programme Director: Risk Reward Faculty

All Dates & Locations
Venue Details

Experience the highly-interactive expert-led social learning through Virtual Classroom via Cisco WebEx from Risk Reward.

All our 2024 Live, on-site and Live Virtual Classroom events feature shared (or discrete) live chat between delegates and the expert, participate in topical surveys, polling questions, group exercises and case studies for a tried -and- true engaging and gratifying learning experience.

Need to bring this course in house, train your team or 1:1? Simply contact us for significant cost savings and dates best suited to meet your specific needs.

Agenda Highlights

Session 1: Introduction to Accounting

Session 2: Income Statement

Session 3: The Balance Sheet

Session 4: Cash Flow Statement

Session 5: Tangible Assets

Session 6: Revenue and Cost of Sales – the trading cycle

Session 7: Liabilities

Session 8: IFRS: Principles-based standards

Session 9: IFRS Consolidated Financial Statements

Session 10: Summary, Discussion and Q&A

Overview

This introductory course provides an appreciation of accounting including an understanding of its principles and practices.

Emphasis is placed on the international accounting standards and includes topics on leases, derivatives, fixed assets and inventories. Topics include International Accounting Standards, Balance Sheet, Income Statement, Cash Flow Statement and how to build a set of accounts.

Who Should Attend

Designed primarily for senior management, members and management of finance functions and those in business units involved with developing or reviewing budgets and forecasts.

Additional Course Information

What Does It Cover?

Session 1: Introduction to Accounting

  • Introduction to accounting
  • The accounting equation
  • Recording financial transactions
  • Ledger accounting and double entry
  • Preparing basic financial statements
  • Accounting concepts and conventions
  • Cost of sales, accruals and prepayments
  • Inventories
  • Non-current assets and depreciation
  • Balance sheet
  • Profit and loss account
  • Cash flow statements
  • Company financial statements

Session 2: Income Statement

  • Recognition and measurement of income
  • Impact on legal form of financial reporting
  • Major components of the income statement
  • Offsetting revenue and expenses
  • Provisioning and its role

Session 3: The Balance Sheet

  • Preparing the balance sheet
  • It needs to balance!
  • The importance of accounting policies
  • Accruals and prepayments
  • Depreciation
  • Goodwill
  • Dealing with reserves and reserve movements

Session 4: Cash Flow Statement

  • Benefits of cash flow statements
  • Types of statement
  • Exclusion of non-cash transactions
  • Gross v Net basis
  • Reconciliation of cash and cash equivalents

Session 5: Tangible Assets

  • Historic cost convention
  • Property, plant and equipment
    o Cost
    o Capitalisation of borrowing costs
    o Disposal of assets
    o Capitalisation of other costs
    o Depreciation and impairment
    o Revaluation model

Session 6: Revenue and Cost of Sales – the trading cycle

  • Sale of goods
    o Recognition and measurement
    o Exchanges of goods
  • Inventories
  • Services and construction contracts
    o Application of the percentage of completion method
  • Compound transactions
  • Company Case Studies

Session 7: Liabilities

  • Provisions
    o Legal and constructive obligations
    o What can and what cannot be recognised?
    o Decommissioning and environmental costs
    o Onerous contracts
    o Restructurings
    o Provisioning policy and losses incurred
  • Leases
    o Finance leases and operating leases
    o Lease accounting by lessees
    o Lease accounting for lessors
    o Sale and leaseback transactions
  • Employee benefits
    o Short-term benefits
    o Pensions and other post-employment employee benefits
    o Actuarial valuations and actuarial gains and losses
    o Stock options other share based payments

Session 8: IFRS: Principles-based standards

  • The IASB’s principles
    o Asset and liability recognition and measurement
    o Income and expense recognition
  • The total list of IFRS accounting standards
  • Fair presentation and compliance with IFRS
    o Fair presentation override
  • Selection of IFRS accounting policies
  • Changes in accounting policies
  • IFRS for SMEs

Session 9: IFRS Consolidated Financial Statements

  • What is a consolidation
  • How to consolidate a group
  • Consolidation principles
    o Subsidiaries
    o Special purpose entities
    o Associates
    o Joint ventures

Session 10: Summary, Discussion and Q&A

Learning Objectives

By the conclusion of this event delegates will have gained an understanding of accounting principles and processes as well as appreciating the key issues that tend to arise in practice, specifically

  • The role of financial accounting
  • Double entry book keeping
  • Preparing statutory accounts
  • The role of the balance sheet and profit and loss account
  • Accrual and prepayments
  • Consolidation practices
  • The role of IFRS

Delegates who complete the course will receive a Certificate with equivalent CPD/CPE credits via email; and for those who require an assessment as a demonstration of competency via training a 20 multiple-choice questions and answers quiz, remotely invigilated with results report and 1 resit, is available at no additional charge when requested at time of reservation.

Social Learning & Methods

Highly interactive expert-led intensive presentation, Q&A, group real-time in-depth case studies, regulation and discussion supported by key principles and theory. The virtual learning platform uses safe, industry preferred encrypted Cisco WebEx to optimize live face-to-face visual interaction, discrete chat, for polling and quizzes.

(An invitation via email with access link is included for all participants.)

Registration

NEW Financial Accounting

Course Fee

Apply 10% discount code RISK10 by December 15, 2023 at check-out

Course Fee (per person):
GBP £2,995.00 (+ UK VAT when applicable)

Number of delegates:

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Terms and Conditions: You can cancel at any time. Due to the on-going COVID 19 environment cancellations may be made at any time for either a full refund or a credit towards another event occurring within the following 6 month period. Simply email or telephone the London Client Services team at training@riskrewardlimited.com to advise your preference and we will do our best to accommodate your circumstances. Risk Reward Ltd receives the right to a final decision in the event of a dispute.

All Risk Reward public courses are guaranteed to run although those offered by affiliates are subject to demand
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