Accounting Standards and Practices

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  • Outline ImageCourse Outline
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Course Overview

Understanding accounting standards and practices is essential for anyone involved in the financial health of a business. This comprehensive 5-day program equips you with a solid foundation in the core principles, applications, and complexities of accounting standards in today's business world. Through interactive lectures, case studies, hands-on exercises, and group discussions, you will understand financial statements clearly, interpret accounting data accurately and apply accounting principles to real-world scenarios.

Objective:

  • Gain a comprehensive understanding of the Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) framework.
  • Master the key components of financial statements, including the balance sheet, income statement, cash flow statement, and statement of changes in equity.
  • Learn to analyse financial statements effectively to assess a company's financial performance and position.
  • Develop skills for applying accounting standards to various business transactions, such as revenue recognition, inventory valuation, and asset depreciation.
  • Explore advanced accounting topics like intangible assets, leases, and financial instruments.
  • Understand the impact of accounting policies and estimates on financial statements.
  • Develop critical thinking skills to identify and address potential accounting issues and inconsistencies.
  • Gain insights into the evolving regulatory landscape and the role of accounting standards setters.
  • Learn best practices for internal controls and financial reporting to ensure accurate and reliable financial information.

 

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Course Outline

Day 1:  The Foundational Framework

  • Introduction to Accounting Standards: Understanding the importance of accounting standards and the regulatory environment.
  • Exploring GAAP and IFRS: Comparing and contrasting the two main accounting frameworks.
  • Understanding the Conceptual Framework: Grasping the underlying concepts and principles that guide accounting standards.

Day 2:  Deciphering Financial Statements

  • The Balance Sheet: Learning to analyse assets, liabilities, and shareholder equity.
  • The Income Statement: Understanding revenue recognition, expenses, and net income.
  • The Cash Flow Statement: Exploring cash flow from operating, investing, and financing activities.
  • The Statement of Changes in Equity: analysing changes in shareholder equity over a period.

Day 3:  Applying Accounting Standards to Transactions

  • Revenue Recognition: Understanding the different revenue recognition methods and their application.
  • Inventory Valuation: Exploring various inventory costing methods and their impact on financial statements.
  • Property, Plant, and Equipment (PPE): Learning about asset depreciation and impairment.
  • Intangible Assets: Understanding the accounting treatment of intangible assets like goodwill and patents.

Day 4:  Advanced Accounting Topics

  • Leases: Learning to distinguish between operating and capital leases and their accounting implications.
  • Financial Instruments: Understanding the classification and accounting treatment of financial instruments.
  • Earnings Management: Exploring strategies for managing earnings and identifying potential red flags in financial statements.

Day 5:  Maintaining Integrity & Looking Forward

  • Internal Controls & Financial Reporting: Learning best practices for accurate and reliable financial reporting.
  • The Evolving Regulatory Landscape: Understanding how changes in accounting standards can impact financial reporting.
  • The Future of Accounting: Exploring emerging trends in accounting technology and their impact on the profession.

 

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Schedule & Fees

3 For 2Offer

Get the most out of group training with our special discount! Register 3 of your participants together on the same course and only pay for 2.

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  • Finance and Accounting

London

$4,900

London

Duration: 5 Days

date: 25 - 29 Nov 2024

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Amsterdam

Duration: 5 Days

date: 06 - 10 Jan 2025

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  • Finance and Accounting

Dubai

$4,900

Dubai

Duration: 5 Days

date: 03 - 07 Feb 2025

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  • Finance and Accounting
Kuala Lumpur

Duration: 5 Days

date: 03 - 07 Mar 2025

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  • Finance and Accounting

Vienna

$5,300

Vienna

Duration: 5 Days

date: 05 - 09 May 2025

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  • Finance and Accounting

London

$4,900

London

Duration: 5 Days

date: 02 - 06 Jun 2025

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  • Finance and Accounting
Barcelona

Duration: 5 Days

date: 07 - 11 Jul 2025

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  • Finance and Accounting

Paris

$5,300

Paris

Duration: 5 Days

date: 04 - 08 Aug 2025

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  • Finance and Accounting

London

$4,900

London

Duration: 5 Days

date: 06 - 10 Oct 2025

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  • Finance and Accounting

Accounting Standards and Practices

Duration:5 Days

date:25 - 29 Nov 2024

London

London

$4,900


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Frequently Asked Questions

How can training courses be used as a company benefit?

Training is hugely beneficial to both yourself and your company. It enables you to employ new technologies, increases your productivity and enables you to be more autonomous. Have a look here at our infographic on the importance of training and development!

How often do you update your course content to ensure relevancy?

Our course content is constantly reviewed and updated to ensure we stay up to date with all the latest trends. After every course is completed we review the feedback and improve the material where necessary.

Do you keep your classroom environment and instructional methodologies current with today’s real-world workplace?

Yes, we focus our training on ‘real-world’ scenarios and our trainers are all highly experienced and skilled in their relevant fields.

Are your courses eligible for professional certification?

Yes, we offer certification with all our courses, every course is entitled to CPD (Continuous Professional Development) hours which you can put towards your professional portfolio.

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Accounting Standards and Practices

  • United KingdomLondon
  • calendar25 - 29 Nov 2024
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  • United KingdomLondon
  • 25 - 29 Nov 2024
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