Preparing Financial Statements

About this course

Producing a complete, consistent set of financial statements is a core skill for any accountant. In four practical days you will take an adjusted trial balance and build the income statement, balance sheet, cash flow statement and statement of changes in equity, then support them with clear notes.

The course works through a full case from start to finish, showing how each figure links across the statements and how to check your work before it reaches management or the auditors. You will return to work able to prepare year-end and interim accounts more quickly and accurately.

What you'll learn

• Map an adjusted trial balance to the lines of the financial statements
• Prepare a statement of profit or loss and other comprehensive income
• Prepare a statement of financial position with correct classification
• Prepare a statement of cash flows using the indirect method
• Prepare a statement of changes in equity
• Draft the main accounting policy and explanatory notes
• Review a set of statements for consistency and common errors

Curriculum

Who it's for

Accountants and finance officers who prepare, or will soon prepare, their organisation's periodic financial statements.

Before you start

• Working knowledge of double entry and period-end adjustments

Part of these Alalamia diplomas

• Alalamia Diploma in Financial Management and Business Accounting
• Alalamia Diploma in International Financial Reporting (IFRS and DipIFR Preparation)