Financial Accounting and Reporting Course

In this new age of information, Accounting is considered as the language of business. Managers utilize this language to communicate the necessary financial information within and outside the organization. Proper flow of information in an organization alleviates challenges in the decision-making process, boosts efficiency and ensures the organization’s survival in the industry.

Accounting makes this smooth flow of information possible for an organization. Financial accounting is the process of recording, classifying, summarising and interpreting financial information of a business entity in an orderly manner, usually in the form of financial statements.

The concept of financial accounting is much broader than that of bookkeeping as it goes beyond merely recording financial transactions but also entails interpreting those transactions in a manner most useful to the users of financial statements.

Course Objectives:

Financial Accounting and Reporting course aim to achieve the following objectives with their participants:

• To understand different fundamentals, jargons, systems of Financial Accounting and Reporting
• To understand Accounting concepts and conventions
• To identify various users of financial information and prepare financial reports according to their relevance
• To be able to read and prepare financial statements such as Profit and Loss Accounts, Balance Sheet, Cash Flow Statements
• To be able to interpret and analyse financial statements using different analysis tools such as financial ratios
• To understand the challenges of financial reporting
• To be able to use accounting information as a tool in making managerial decisions
• To evaluate the financial health of the firm using financial information and comparing financial performance
• To gain awareness of emerging accounting trends in the industry