Financial Accounting and Reporting
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Program Professional Framework
Financial Accounting and Reporting
Program Overview
Reliable reporting starts with sound recognition and measurement in the ledger. «Financial Accounting and Reporting» takes accountants from the IFRS Conceptual Framework through the standards that drive most reported numbers: revenue under IFRS 15, inventories, property, plant and equipment, leases under IFRS 16, provisions, financial instruments basics under IFRS 9 and income taxes. It then moves to the presentation of financial statements, the cash flow statement under IAS 7, notes and accounting policies, and the upcoming change in presentation under IFRS 18, with worked examples from GCC entities.
Learning Outcomes
- ✓Apply the five-step IFRS 15 model to recognise revenue on multi-element contracts.
- ✓Measure inventories, property, plant and equipment and right-of-use assets in line with the relevant IFRS.
- ✓Recognise and measure provisions and contingent liabilities using IAS 37 criteria.
- ✓Prepare a statement of cash flows using the indirect method.
- ✓Prepare a complete set of financial statements with key notes and accounting policies.
- ✓Explain the main presentation changes introduced by IFRS 18 for the income statement.
Target Audience
- Financial accountants and reporting accountants
- Senior accountants and assistant financial controllers
- External and internal auditors
- Finance staff preparing year-end reporting packs
Detailed Program Modules
01Framework and Principles
- The IFRS Conceptual Framework
- Qualitative characteristics and elements of financial statements
- Accounting policies, estimates and errors
02Revenue and Receivables
- IFRS 15 five-step model
- Contract assets and liabilities
- Trade receivables and expected credit losses
03Assets
- Inventories under IAS 2
- Property, plant and equipment under IAS 16
- Leases and right-of-use assets under IFRS 16
04Liabilities and Equity
- Provisions and contingencies under IAS 37
- Basic financial liabilities and borrowings
- Income taxes, deferred tax and zakat presentation
05Preparing the Financial Statements
- Statement of financial position and profit or loss
- Statement of cash flows under IAS 7
- Notes and disclosures
06Reporting Developments and Quality Review
- IFRS 18 and the new income statement structure
- Year-end close and reporting checklist
- Reviewing statements for consistency and errors
Training Methodology
Applied Project & Assessment
Applied Project
Participants prepare year-end financial statements for a provided company from a trial balance, including adjustments for revenue, leases and provisions, a cash flow statement and selected notes, then outline how the income statement would change under IFRS 18.
Assessment
Short diagnostic at the start, practical tasks linked to each learning outcome, and evaluation of the applied project against published criteria.