International Accounting Standards according to the latest amendments

Overview:

Introduction

This course aims to develop your skills in analyzing business activities, and you will be the guide and assistant through the main steps of analyzing financial statements, evaluating new investments, and measuring performance at all levels of your organization, and you will develop your capabilities to generate growth and improve profitability, in addition to identifying problem areas for remedial action.
It will also focus on the main risks companies face in today's uncertain economic, political, and physical environment.

Course Objectives

At the end of this course, participants will be able to:

• Learn a range of knowledge about the development of financial information systems in light of the increasing financial risks in business organizations.
• Equipping with a set of knowledge related to the new international financial reporting standards (IFRS), and identifying aspects of the change that accompanied the application of these standards to the international and Arab business environments.
• Showing how to use and benefit from the financial reports through a critical reading of them, in a manner that enables judgment on the strength and strength of the financial positions of organizations and in a manner that contributes to the consolidation of many administrative decisions.
• Learn about modern tools for predicting future financial performance, reporting cases of failure or financial success for organizations, and reviewing financial restructuring approaches.
• Familiarity with all the professional problems that accompanied the application of some accounting treatments for some accounting standards.
• Learn a set of financial tools and talk about the use of planning budgets in managing financial risks.
• Gaining skills in dealing with realistic problems from practice and practical application in managing financial risks.
• Gain basic accounting concepts and how accounting data flow through the accounting system.
• Learn about the accounting cycle and methods of recording and posting accounting entries and inventory adjustments.
• Acquiring the skills of applying the procedures for accounting on an accrual basis and determining the expenses and revenues related to the financial period.
• Acquiring the skill of closing accounts and preparing final accounts and budgets.

Targeted Audience

• Finance.
• Financial advisors
• Accountants and financial management personnel.
• Internal and external auditors.
• Responsible for following up and collecting customer accounts.
• Those working in the field of financial planning and preparing budgets
• Those working in credit analysis activities in banks who are involved in analyzing the financial statements of the establishments.

Course Outline:

Unit1:

• The development of international accounting information systems.
• Cancellation of International Accounting Standards “IAS” in 2011
• The development of accounting information systems in accordance with the economic relationship of international standards.
• Joint Project for the Development of Accounting Theory {IASB & FASB 2005 - 2011}
• Issuance of Financial Reporting Standards {IFRS 2010.{
• International Financial Reporting Standards Foundation {IFRS Foundation}

Unit 2:

• Presentation of the financial statements in accordance with the International Standards {2010 IFRS} and Financial Reporting Standards "IAS".
• Presentation of lists in light of (IFRS) DRAFT - 7 IAS - 1 IAS.
• View the balance sheet {Balance Sheet}.
• View {Comprehensive Income Statement}.
• View the Cash Flows Statement.
• Complementary explanations.

Unit 3: 

• Modern strategies in reporting and analyzing financial performance.
• Horizontal analysis and vertical analysis of financial statements. {Vertical analysis & Horizontal}
• Measurement of financial indicators. {Financial ratios}
• Benchmarking {Benchmarking}.

Unit 4:

• Strategic financial analysis of the financial statements.
• Strategic analysis of the statement of financial position.
• Strategic analysis of the comprehensive income statement.
• Strategic analysis of the cash flow statement.

Unit 5:

• Government accounting rules.
• Technical components of the government accounting system {documents - books and records - reports}.
• Practical applications on how to manage and implement the activities of the government accounting system.

Unit 6:

• Characteristics and objectives of government accounting.
• Explanatory theories of accounting in government units.
• Fundamentals of accounting measurement used in government accounting.

Unit 7:

• Basic accounting concepts and principles.
• Fundamentals and elements of the accounting function.
• Accounting financial terms {assets, expenses, profit, cash flow..and others}.
• Financial data: definition, use.
• Distinguish between accounting according to the cash basis and accounting according to the accrual basis.

Unit 8:

• Accrual accounting principles.
• Settlement of accounts.
• Expense settlement.
• Revenue settlement.
• Determine dues and advances.
• Preparing the trial balance after settlement.
• Various practical situations.

Unit 9:

• Set up adjustment entries.
• Setting closing restrictions for accounts.
• Trial balance after closing entries.
• Preparing the financial statements and final accounts from the amended trial balance.
• Use the accounting worksheet to prepare reconciliation and closing entries.

Unit 10:

• Preparing accounting reconciliations and entries for salaries and wages.
• Preparing settlements and accounting entries for trusts and trusts.
• Preparing accounting adjustments and entries for advances and expenses.
• Preparing accounting adjustments and entries for revenue.
• Preparing reconciliations and accounting entries for assets.
• Various applications and practical cases.