Financial Reporting (FR)
About ACCA
The Association of Chartered Certified Accountants (ACCA) is a fast growing global professional accountancy body with over a 100 years of experience and consisting of 425,000 students and members in over 170 countries. Both its reputation and influence are respected worldwide by employers, governments and profession itself.
The ACCA Qualification is one of the most highly respected and valued qualifications available internationally. Gaining such a qualification is evidence that the holder possesses skills and knowledge which are in high demand by employers in industry, banking, auditing, consulting as well as other professions like taxation and law. The ACCA Program is most suitable for those that aspire to become professionals in any sector of business. University graduates of any discipline can join the program. No previous knowledge of accounting or finance is required.
Course Description
The aim of this course is to develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyze and interpret those financial statements.
Course objectives
After successful completion of this course, candidates should be able to:
- Discuss and apply a conceptual and regulatory frameworks
for financial reporting;
- Account for transactions in accordance with International
accounting standards;
- Analyze and interpret financial statements;
- Prepare and present financial statements for single entities and business combinations in accordance with International accounting standards.
Topics we will cover:
- A conceptual framework for financial reporting: The need for
a conceptual framework; Understandability, relevance, reliability and
comparability; Recognition and measurement; The legal versus the commercial
view of accounting; Alternative models and practices; The concept of ‘faithful
representation’ (‘true and fair view’);
- A regulatory framework for financial reporting: Reasons for
the existence of a regulatory framework; The standard setting process;
Specialized, not-for-profit, and public sector entities;
- Financial statements: Cash flow statements; Tangible
non-current assets; Intangible assets; Inventory; Financial assets and
financial liabilities; Leases; Provisions, contingent liabilities, and
contingent assets; Impairment of assets; Taxation; Regulatory requirements
relating to the preparation of financial statements; Reporting financial
performance;
- Business combinations: The concept and principles of a
group; The concept of consolidated financial statements; Preparation of
consolidated financial statements including an associate;
- Analyzing and interpreting financial statements: Limitations of financial statements; Calculation and interpretation of accounting ratios and trends to address users’ and stakeholders’ needs. Limitations of interpretation techniques; Specialized, not-for-profit, and public sector entities.
Certificate
- At the end of the course students will be
able to pass the international exam of Financial Reporting organized by ACCA.
- Course Language: English
- Course Duration: 50 hours
