Preparing Financial Statements and the Annual Report|Online

Overview

Why Attend

Financial statements and the annual report are key communication channels between companies and their different stakeholders. By attending this course, you will be able to prepare financial statements as per the International Financial Reporting Standards (IFRS) which will allow you to maintain your company's financial reporting transparency and credibility.

Course Methodology

This course covers theoretical core topics in addition to introducing Excel for the preparation of financial statements. It also features the study of real life cases and presentations by participants.

Course Objectives

By the end of the course, participants will be able to:

Explain each part of the accounting cycle
Design effective chart of accounts
Perform accounting adjustments including deferrals and accruals
Create trial balance and adjusted trial balance
Describe and map charts of accounts to the financial statements
Prepare and present income statements, balance sheets, and cash flow statements
Formulate notes to the financial statements

Target Audience

Senior and junior accountants, accounting and finance professionals, chief accountants, accounting managers and supervisors, financial controllers and any accounting and finance professionals interested in learning and updating their knowledge regarding the preparation of financial statements and notes.

Target Competencies

Understanding the accounting cycle
Designing chart of accounts
Performing accounting adjusting entries
Preparing and analyzing income statements
Preparing and analyzing balance sheets
Preparing and analyzing cash flow
Reviewing and understanding financial statements notes
Utilizing Excel functions

Note

This is a hands-on training course using laptops, which will be made available by Smart for the duration of the course.

Course Outline

The accounting cycle
- Understanding the accounting cycle
- Supporting documents
- Analyzing transactions and recording in the system
- Preparing ledgers and General Ledgers (GL)
- Converting the GL to Trial Balance (TB)
- Types of adjusting entries
- The Adjusted Trial Balance (ATB)
- Mapping ATB to the financial statements
- Preparing financial statements
- Closing the books
- Preparing the Post-Closing Trial Balance (PCTB)
Chart of accounts and design techniques
- Designing the chart of accounts
- Maintenance of the chart of accounts
- Analyzing the chart of accounts
- Reconciliations and important issues
- Creating the trial balance
Accounting adjusting entries
- Understanding deferrals
- Deferred revenues and entries
- Deferred expenses entries
- Working with accruals
  - Adjusting for accrued revenues
  - Accrued expenses entries
- Other adjustments and corrections
- Preparing the adjusted trial balance
Preparing financial statements and notes
- Mapping the adjusted trial balance to the financial statements
- Preparing the income statements
- Preparing the balance sheets
- Preparing the cash flow statements
- Preparing the owners equity statements
- Objectives of external audit
- External audit versus internal audit
- Reading and interpreting the audit opinion
- Management Discussion and Analysis (MD&A)
Notes to the financial statements
- Understanding the requirements for the notes
- Organization and activities of the notes
- Basis for preparation
- Summary of significant accounting policies
- Accounting convention
- Use of estimates
- Completing the financial statements and the notes

Schedule & Fees

2026 Schedule & Fees

22 - 26 Nov, 2026

English
Virtual Learning

Per participant USD 1,300

22 - 26 Nov, 2026

Arabic
Virtual Learning

Per participant USD 1,300

6 - 10 Dec, 2026

English
Virtual Learning

Per participant USD 1,300

6 - 10 Dec, 2026

Arabic
Virtual Learning

Per participant USD 1,300

2027 Schedule & Fees

21 - 25 Feb, 2027

Arabic
Virtual Learning

Per participant USD 1,300

21 - 25 Feb, 2027

English
Virtual Learning

Per participant USD 1,300

7 - 11 Mar, 2027

English
Virtual Learning

Per participant USD 1,300

7 - 11 Mar, 2027

Arabic
Virtual Learning

Per participant USD 1,300

23 - 27 May, 2027

English
Virtual Learning

Per participant USD 1,300

23 - 27 May, 2027

Arabic
Virtual Learning

Per participant USD 1,300

6 - 10 Jun, 2027

Arabic
Virtual Learning

Per participant USD 1,300

6 - 10 Jun, 2027

English
Virtual Learning

Per participant USD 1,300

22 - 26 Aug, 2027

English
Virtual Learning

Per participant USD 1,300

22 - 26 Aug, 2027

Arabic
Virtual Learning

Per participant USD 1,300

5 - 9 Sep, 2027

English
Virtual Learning

Per participant USD 1,300

5 - 9 Sep, 2027

Arabic
Virtual Learning

Per participant USD 1,300

21 - 25 Nov, 2027

Arabic
Virtual Learning

Per participant USD 1,300

21 - 25 Nov, 2027

English
Virtual Learning

Per participant USD 1,300

5 - 9 Dec, 2027

English
Virtual Learning

Per participant USD 1,300

5 - 9 Dec, 2027

Arabic
Virtual Learning

Per participant USD 1,300