Financial Accounting: Theory And Practice (london & Wolverhampton)

HRODC Postgraduate Training Institute
In Central London, West Midlands (England)

Higher than Rs 100000

Important information

Description

Suitable for: This course is designed for: Chartered Accountants. Accounting and Finance Lecturers. Financial Consultants. Certified Accountants. Sole Proprietors. Partners. Licensed Accountants. All others with interest in financial accounting issues

Important information

Requirements: Degree or Work Experience

Venues

Where and when

Starts Location
Flexible
Central London
Carburton Street, W1W 5EE, London, England
See map
Flexible
West Midlands
Bhylls Lane, WV3 8DZ, West Midlands, England
See map

What you'll learn on the course

Bookkeeping
Accounts
Financial Accounting
Cash Flow
Transactions
Credit
Accounting
IT
Accounting MBA
Finance
Financial
Debit Credit
Accountants
Financial Training
Accounting Environment
Financial Statement

Course programme

Course Contents, Concepts and Issues:

PART 1: A CONCEPTUAL FRAMEWORK: SETTING THE SCENE


Module 1 - The Accountant and the Accounting Environment

  • Accounting – Defined
  • The Development of a Conceptual Network
  • External Reporting
  • Internal Reporting
  • Types of Business Entity
  • Sole Trader
  • Partnership
  • Limited liability Company
  • Formation of Business Entity
  • Running the Business
  • Accounting Information
  • Meeting Obligations
  • Users and Their Information Needs
  • General and Specific Purpose
  • Agency Theory

Module 2 - A System Approach to Financial Reporting: The Accounting Equation

  • Assets and Liabilities
  • The Accounting Equation – Statement of Financial Position
  • Alternative Ways of Expressing Accounting Equation
  • Asset
  • Definition
  • Examples
  • Recognition
  • Liabilities
  • Definition
  • Examples
  • Recognition
  • Ownership Interest
  • Changes in Ownership Interest
  • Subtracting
  • Causes of Changes in ownership Interest
  • Revenue and Expense
  • Net Impact of Business Transaction
  • Equation for Change in Ownership Interest

Module 3 - Finacial Statement from the Accounting Equation

  • Primary Financial Statements
  • Financial Statement Preparation
  • Statement of Financial Position – Balance Sheet
  • Other Forms of Statement – Horizontal and Vertical
  • Income Statement
  • Statement of Cash Flows
  • Subdivision of Cash Flows
  • Profit Does Not Equal Cash
  • Practical Illustration
  • Debit and Credit Recording
  • Analysis of Transaction
  • Trial Balance

Module 4 - Ensuring the Quality of Financial Statements

  • Qualitative Characteristics
  • Relevance and Reliability
  • Measurement Principles
  • Materiality
  • Prudence
  • Regulation
  • Reviewing Published Financial Statements

PART 2: REPORTING THE TRANSACTIONS OF A BUSINESS

Module 5 - Accounting Information for Service Business

  • Accounting Equation
  • Debit and Credit Entries in Ledger Accounts
  • Analysis of Service Business Transactions
  • Three-column Ruling for Ledger Account
  • T-Account Form of Ledger Account
  • Ledger Account Titles
  • Checking the Accuracy of Double Entry Records
  • Error Detection

Module 6 - Accounting Information for Trading Businesses

  • Trading Businesses
  • Analysis of Transactions and Events
  • Transaction of Manufacturing Business
  • Detailed Work
  • Cost of Goods Sold
  • Transactions Involving Cash
  • Transactions Not Involving Cash
  • Events Affecting the Business
  • ‘Day Books’ (‘Daily Diaries’)
  • Rules of Debit and Credit

Module 7 - Published Financial Statements

  • International Influences
  • Accounting Framework
  • Contents of Annual Report
  • Formats
  • Beyond the Annual Report
  • Group Accounting
  • Group Financial Statement
  • Consolidation
  • Goodwill
  • Loss of Value – Impairment

Module 8 - Non-Current (Fixed) Assets

  • Classification
  • Valuation
  • Revaluation
  • Cost
  • Depreciation
  • Yearly depreciation
  • Accumulated Depreciation
  • Calculation of Depreciation
  • Total Depreciation
  • Purpose and Methods of Depreciation
  • Reducing Balance Depreciation

PART 3: RECOGNITION IN FINANCIAL STATEMENTS

Module 9 - Current Assets

  • Current Asset – Defined
  • Examples
  • Working Capital Cycle
  • Working Capital – Defined
  • Recognition
  • Inventories
  • Finished Goods
  • Work in Progress
  • Raw Materials
  • Receivables
  • Prepayments
  • Recognition
  • Double Debts
  • Investments
  • Cash
  • User’s Needs for Information
  • Measurements
  • Inventories
  • Assets Acquired
  • End of Year
  • Cost – Meaning
  • Comparison
  • Importance for Profit
  • Bad and Doubtful Debts
  • Prepayments
  • Debit and Credit Entries in ledger Accounts
  • Debit and Credit Analysis
  • Ledger Accounts
  • Recording a Doubtful Debt

Module 10 - Current Liabilities

  • Liability – Defined
  • Examples
  • Recognition
  • Contingent Liabilities
  • Recording Expenses
  • Accrual of Expenses
  • Analysis of Transaction
  • Summary of Spreadsheet
  • Bookkeeping Supplement

Module 11 - Provisions and Non-Current (Long-Term) Liabilities

  • Current and Non-Current Liability – Defined
  • Examples
  • Debentures
  • Bonds
  • Bank Borrowing and Commercial Paper
  • Features of Loans
  • Provisions
  • Spreadsheet for Warranty Repairs
  • Deferred Income
  • Matching Concept
  • Bookkeeping Supplement

Module 12 - Ownership

  • Structure of a Statement of Financial Position
  • Issue of Shares at the Date of Incorporation
  • Share Certificate
  • Share Premium
  • Revaluation
  • Recognise Increase in Value – ‘Not Realised’
  • Foreign Currency gains and Losses
  • Additional Primary Financial Statements
  • Statement of Changes in Equity
  • UK Statement of Total Recognised Gains and Losses (STRGL)
  • UK Movements in Shareholders’ Funds
  • Dividends
  • Issue of Further Shares
  • Capitalisation Issue
  • Right Issue
  • Year-end Adjustments
  • Bookkeeping Supplements

PART 4: ANALYSIS AND ISSUES IN REPORTING

Module 13 - Ratio ANalysis

  • Overview
  • Ratio Analysis
  • Comparisons
  • Accounting Policies
  • Inflation
  • Other Sources
  • Ratio’s Only a Starting Point
  • Systematic Analysis
  • Income Statement
  • Statement of Financial Position
  • Statement of Changes in Equity
  • Share Prices
  • Investor’s Ratio
  • Gearing
  • EBITDA
  • Free Cash Flow

Module 14 - Reporting Corporate Performance

  • Operating and Financial Review (OFR)
  • OFR Framework
  • Key Performance Indicators
  • Other Guidance in Financial Report
  • Segmental Information
  • Off-balance-sheet Finance
  • Corporate Social Responsibility
  • Global Reporting Initiative
  • Corporate Governance
  • True and Fair View
  • Measurement of Value

Module 15 - Reporting Cash Flows

  • Cash and Cash Equivalent – Defined
  • Indirect Methods
  • Operating Cash Flow
  • Cash Flows From Investing
  • Cash Flows From Financing Notes
  • Line 1: Cash Flows From Operating Activities
  • Line 2: Profit Before Taxation
  • Line 3: Adjustments For Items not Involving a Flow of Cash
  • Line 4: Adding Back Depreciation, Amortisation, Gain or Loss on Disposal, etc.
  • Line 5: Adjusted Profit
  • Line 6: (Increase)/Decrease in Inventories (Stocks)
  • Line 7: (Increase)/Decrease in Trade Receivables (Debtors)
  • Line 8: (Increase)/Decrease in Prepayments
  • Line 9: Increase/(Decrease) in Cash Due to (Increases)/Decreases in Current
  • Assets
  • Line 10:Increase/(Decrease) in Trade payables (Creditors)
  • Line 11:Increase/(Decrease) in Accruals
  • Line 12:Increase/(Decrease) in Cash Due to Increases/(Decreases) in Liabilities
  • Line 13:Increase/(Decrease) in Cash Due Working Capital Changes
  • Line 14:Cash Generated From Operations
  • Line 15:Interest Paid
  • Line 16:Taxes Paid
  • Line 17:Net Cash Inflow From Operating Activities
  • Line 18:Cash Flows From Investing Activities
  • Line 19:Purchase of Non-Current Assets
  • Line 20:Proceeds From Sale of Non-Current Assets
  • Line 21:Interest Received
  • Line 22:Dividends Received
  • Line 23:Net Cash Used In Investing Activities
  • Line 24:Cash Flows From Financing Activities
  • Line 25:Proceeds From Issue of Share Capital
  • Line 26:Proceeds From Long-Term Borrowings
  • Line 27:Dividends Paid
  • Line 28:Net Cash Used in Financing Activities
  • Line 29:Increase/(Decrease) in Cash and Cash Equivalents
  • Line 30 & 31: Cash and Cash Equivalents at the Start and End of the Period
  • Direct Methods
  • Operating Cash Flow
  • Investing Cash Flows
  • Financing Cash Flows
  • Which to Choose – Direct or Indirect?

Module 16 - Accounting Tables

  • Present Value of an Ordinary Annuity (PVOA)
  • Visualizing the Present Value of an Ordinary Annuity (PVOA) Present Value Formula, Tables, and Calculators
  • Difference between Present Value (PV) and Net Present Value (NPV)
  • Calculating the Length of an Ordinary Annuity (n)
  • Calculating the Payment in an Ordinary Annuity (PMT)
  • Calculating the Rate (i) in an Ordinary Annuity
  • PVOA Used in Recording a Transaction and Amortizing Discount
  • Introduction to the Present Value of an Ordinary Annuity, Components of a Present Value Calculation
  • Derivation Tables In Respect of Accounting Standards

Additional information

Financial Accounting: Theory And Practice (full-time) - Leading to Postgraduate Diploma, Progressing to Msc, Incorporating Formation of Business Entity, Accounting Equation, Financial Statements, Day Books, Uk Statement of Total Recognised Gains And Losses, Strgl (london & Wolverhampton)