Accounting, Transactions, Financial statements of companies, Income recognition, Financial reporting, Insurance claims…

This course includes:

  • 74.5 hours on-demand video
  • 79 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of completion

Description

Uplatz provides this comprehensive training on Financial Accounting & Reporting.

This Financial Accounting & Financial Reporting course will demonstrate the key accounting concepts and principles to be able to prepare financial statements and unlock critical insights into business performance and potential. You will explore how financial advisors, managers, analysts, and entrepreneurs leverage accounting to drive strategic decision-making. The Financial Accounting course will help you master the functional and technical skills needed to analyze financial statements and disclosures for use in financial analysis, and learn how accounting standards and managerial incentives affect the financial reporting process. By the end of this Financial Accounting & Reporting course, you’ll be able to read the three most common financial statements: the income statement, balance sheet, and statement of cash flows. Then you can apply these skills to real-world industry scenarios.

Financial Accounting is essentially the process of preparing financial statements that organizations use to show their financial performance and position to people outside the company including investors, creditors, suppliers, and customers. Financial reporting can be defined as the standard practices to provide stakeholders a clear depiction of an organization’s finances, including their revenue, expenses, profits, capital, and cash flow, as formal records that provide in-depth insights into financial information.

Financial accounting ensures the legal compliance for how businesses track, recognize, and measure revenue, costs, depreciation, intangible assets, goodwill, and the like. Since the investors as well as regulatory bodies want all businesses to be measured on the same grading stick and to have confidence that financial measures can be compared across businesses, hence financial accounting assumes great importance. While the occasional pro-forma statement may be issued, financial accounting is primarily dealing with accounting for historical transactions. Everything must be accounted for and should match on both sides of the accounting ledger.

Financial accounting differs from management accounting, in the sense that financial accounting is for external parties which by contrast management accounting involves preparing detailed reports and forecasts for managers inside the company. In simple words, managerial accounting information is aimed at helping managers within a company while financial accounting is aimed at providing information to external parties.

The basic goals of financial accounting involve analysis, preparation, publication of:

  • Financial statements/accounting/reporting, cash flow analysis
  • Accounting theory/practice/cycle
  • Income/retained earnings statements, balance sheets
  • GAAP, international reporting standards, standards convergence

Financial Reporting simply refers to the financial results of an organization that are released to its stakeholders and to the public. This reporting is a key function of the controller, who may be assisted by the investor relations officer if an organization is publicly held. Financial reporting typically encompasses the following documents and postings:

  • Financial statements, which include the income statement, balance sheet, and statement of cash flows
  • Accompanying footnote disclosures, which include more detail on certain topics, as prescribed by the relevant accounting framework
  • Any financial information that the company chooses to post about itself on its website
  • Annual reports issued to shareholders
  • Any prospectus issued to potential investors concerning the issuance of securities by the organization

Financial reporting utilizes financial statements to disclose financial data that indicates the financial health of a company over during a specific period of time. The information is vital for management to make decisions about the company’s future and provides information to capital providers like creditors and investors about the profitability and financial stability of an organization.

Internal financial reporting is a business practice that involves compiling financial information on a frequent basis for use within the organization. The documents may contain confidential information, such as business indicators or KPIs, financial performance, performance indicators, etc.. These are designed to help those individuals working within the company to make informed decisions. In contrast, the external reporting involves preparing financial information to be distributed to parties outside the organization. Unlike internal reports, external reports do not contain confidential information about the company.

The recipients of the external reports include potential investors, lenders, and creditors who require the reports to evaluate the financial position of the company. The main external financial reports include the income statement, balance sheet, and statement of cash flows.

Financial Accounting & Reporting include key areas of finance & accounting such as debt management, trend identification for decision-making, real time tracking, liabilities position, progress & compliance, cash flows, communication & data access, and more.

Financial Accounting & Reporting – Course Syllabus

  1. Introduction to Financial Accounting and its importance
  2. Introduction to Financial Reporting and its importance
  3. Golden rule of accounting
  4. Recording of transactions
  5. Trial balance
  6. Bank reconciliation statement
  7. Bill of exchange
  8. Depreciation
  9. Rectification of errors
  10. Provisions and reserve
  11. Divisible profit & dividend
  12. Financial statements of companies
  13. Income recognition, classification of assets and provisions
  14. Insurance claims
  15. Internal reconstruction
  16. Managerial remuneration
  17. Accounting for not-for-profit organization
  18. Accounting for bonus issue and right issue part
  19. Accounting for share capital
  20. Accounting ratios
  21. Amalgamation of companies
  22. Banking companies
  23. Accounting for branches including foreign branches
  24. Buy-back of securities and equity shares with differential rights
  25. Cash flow statement
  26. Consolidated financial statements
  27. Corporate social responsibility
  28. Departmental accounts
  29. Accounting for employee stock option plans
  30. Framework for preparation and presentation of financial statements
  31. Hire purchase and installment sale transactions
  32. Incomplete records
  33. Insurance claims
  34. Issue of debentures
  35. Liquidation of companies
  36. Non-banking financial companies
  37. Accounting for partnership basic concepts
  38. Dissolution of partnership firm
  39. Reconstitution of a partnership firm – admission of a partner
  40. Reconstitution of a partnership firm – retirement death of a partner
  41. Preparation of financial statement of bank
  42. Profit or loss pre and post incorporation
  43. Redemption of debenture
  44. Redemption of preference shares
  45. Special transactions of bank

Who this course is for:

  • Accounts Officers & Executives
  • Financial Analysts & Consultants
  • Accountants & Cost Accountants
  • Chartered Accountants (CA) Professionals
  • CA Students (IPCC & Final)
  • Newbies and Beginners in Finance & Accounting
  • Entrepreneurs & Businessmen
  • Anyone aspiring for a career in Financial Accounting & Reporting
  • Tax Department Professionals
  • Finance Directors & CFOs
  • Financial Advisors & Managers
  • CS Professionals & Students
  • ICWA/ CMA Students
  • Candidates who are preparing for jobs as Accountant, Taxation Manager, Auditor, Finance
  • Internal & External Auditors
  • Banking Professionals & Relationship Managers
  • Investors
  • B Com, M Com Students
  • School & College Students with Commerce background
  • Individuals who are working in NBFCs, listed companies, banks and insurance companies
  • Financial Services & Loan Managers