This course is designed to help you understand the process of compiling a set financial statements using a final trial balance and other background information and the sundry disclosures required for a set of financial statements.
The key disclosure information from the Accounting Standards will be considered for each of the primary statements, as well as notes relating to the primary statements.
The form and content of financial statements
IAS 1 Presentation of Financial Statements
The statement of profit or loss and other comprehensive income
The statement of financial position
The statement of changes in equity
The statement of cash flows
IFRS 7 Financial Instruments: Presentation
IFRS 12 Disclosures of Interests in Other Entities
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
IAS 24 Related Party Disclosures
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
In this course you will receive information about the topic area, and explore many application scenarios via a case study.
This course consists of one online course and one online assessment.
Prepare a statement of financial position, statement of profit or loss and other comprehensive income, and statement of changes in equity from trial balance information
Identify related notes and include this information in the financial statements
Identify the framework behind financial statements and the requirements for different companies
Identify the key themes of IAS 1 Presentation of Financial Statements
Prepare and understand sundry disclosure notes such as:
Contingent liabilities and commitments
Disclosure of standards issued not yet effective
Interests in other investments
This course is specifically designed for finance professionals who are involved in external reporting, financial management and financial accounting.