Comprehensive Analysis and Reporting of Financial Statements

Introduction:

In the face of globalization and heightened competition, understanding the requirements of Corporate Governance and compliance with International Financial Reporting Standards (IFRS) has become increasingly crucial. This advanced course builds on foundational forensic accounting knowledge, focusing on advanced reporting standards and investigative techniques to address ethical violations through the lens of Corporate Governance and IFRS principles. The course highlights issues such as creative accounting and off-balance-sheet financing, illustrated by cases like Enron and WorldCom.

Participants will deepen their theoretical and practical understanding of financial reporting, enhancing their ability to apply IFRS principles in real-world scenarios, thereby improving their financial analysis and reporting skills.

Objectives:

Upon completing this advanced financial statements analysis and reporting course, participants will:

• Illustrate the importance of Corporate Governance and IFRS.
• Recognize and understand creative accounting methods and their impact.
• Learn from accounting scandals like Enron and WorldCom.
• Explain the framework and structure of IFRS.
• Stay updated on IFRS adoption, convergence projects, and issues.
• Prepare and present financial statements in compliance with IFRS, including:
  • Balance Sheet: Statement of Financial Position
  • Income Statement: Statement of Comprehensive Income
  • Cash Flow Statement: Statement of Cash Flows
  • Statement of Changes in Equity
  • Statement of Recognized Income and Expense (SORIE)
  • Notes, including Summary of Significant Accounting Policies
• Evaluate and analyze the impact of IFRS on financial statements.

Training Methodology:

• Case Studies
• Interactive Workshops
• Group Discussions
• Simulations
• Hands-On Exercises
• Expert Lectures
• Real-Life Scenarios

Course Outline:

Unit 1: Corporate Governance and International Financial Reporting Standards (IFRS)

• Defend the Case for Corporate Governance and IFRS
• Creative Accounting and Off-Balance Sheet Financing
• Lessons from Enron and Similar Cases
• Corporate Governance and Responsibility
• Challenges of Convergence

Unit 2: The Structure of IFRS

• Standards of Financial Reporting
• IFRS and International Accounting Standards
• Interpretations and Standing Interpretations Committee
• Implementation of IFRS and Convergence Projects

Unit 3: The Framework for the Preparation and Presentation of Financial Statements

• Purpose and Scope
• Qualitative Features and Characteristics
• Components of Financial Statements
• Recognition and Measurement of Financial Statement Elements

Unit 4: Financial Reporting Under IFRS

• IAS 1 Presentation of Financial Statements
• IAS 8 Accounting Policies, Changes, and Errors
• IAS 10 Events After the Reporting Date
• IAS 18 Revenue
• IAS 23 Borrowing Costs
• IAS 16 Property, Plant, and Equipment
• IAS 17 Leases
• IAS 7 Cash Flow Statements

Unit 5: Advanced Financial Reporting

• IFRS 3 Business Combinations
• IAS 27 Consolidated and Separate Financial Statements
• IAS 36 Impairment of Assets
• IAS 37 Provisions, Contingent Liabilities, and Contingent Assets
• IAS 38 Intangible Assets
• IAS 39 Financial Instruments: Recognition and Measurement
• IFRS 7 Financial Instruments: Disclosures

Unit 6: Analyzing Accounting Information

• Principles of Ratio Analysis
• Common Size Statements
• Rates of Change and Ratios

Unit 7: Financial Analysis Using Excel

• Equations and Fiscal Functions
• Data Analysis Toolpak
• Graphing and Charting Data

Unit 8: Overall Evaluation of Financial Reporting Details

• Current Assets and Cash Flow Control
• Accounts Receivable and Payable
• Equity Structure

Unit 9: Using Techniques for Financial Analysis

• Z Score and Similar Methods
• Statistical Techniques and Regret Modeling

Conclusion:

This advanced course equips participants with comprehensive knowledge and practical skills in financial statements analysis and reporting under IFRS, preparing them to address complex financial reporting challenges and enhance their professional capabilities.