Aim
To develop knowledge and understanding of the underlying principles and
concepts relating to financial accounting and technical proficiency in the use of
double-entry accounting techniques including the preparation of basic financial
statements.
Main capabilities
On successful completion of this paper, you should be able to:
A Explain the context and purpose of financial reporting
B Define the qualitative characteristics of financial information
C Demonstrate the use of double entry and accounting systems
D Record transactions and events
E Prepare a trial balance (including identifying and correcting errors)
F Prepare basic financial statements for incorporated and unincorporated
entities.
G Prepare simple consolidated financial statements
H Interpret financial statements
1 | The scope and purpose of, financial statements for external reporting |
2 | Users’ and stakeholders’ needs |
3 | The main elements of financial reports |
4 | The regulatory framework |
5 | Duties and responsibilities of those charged with governance |
6 | The qualitative characteristics of financial reporting |
7 | Double-entry book-keeping principles including the maintenance of accounting records |
8 | Ledger accounts, books of prime entry and journals |
9 | Sales and purchases |
10 | Cash |
11 | Inventory |
12 | Tangible non-current assets |
13 | Depreciation |
14 | Intangible non-current assets and amortisation |
15 | Accruals and prepayments |
16 | Receivables and payables |
17 | Provisions and contingencies |
18 | Capital structure and finance costs |
19 | Trial balance |
20 | Correction of errors |
21 | Control accounts and reconciliations |
22 | Bank reconciliations |
23 | Suspense accounts |
24 | Statements of financial position |
25 | Income statements and statements of comprehensive income |
26 | Disclosure notes |
27 | Events after the reporting period |
28 | Statements of cash flows (excluding partnerships) |
29 | Incomplete records |
30 | Subsidiaries |
31 | Associates |
32 | Importance and purpose of analysis of financial statements |
33 | Ratios |
34 | Analysis of financial statements |
This course is provided by Global Accountancy Institute Inc..
For more information please contact Dr Glen Brown on Phone # (302)261-3676 or by email address info@globalaccountancyinstitute.com.
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