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What you will learn

End-to-end concepts of Financial Accounting & Financial Reporting

Prepare for CA, CFA exams

Gain complete knowledge to work as Financial Advisor/Executive/Accountant

Recording of Transactions

Trial Balance, Bill of Exchange, Depreciation

Bank Reconciliation Statements

Rectification of Errors

Provisions and Reserve

Profits & Dividends

Create or Analyze Financial Statements of Companies

Income Recognition, Classification of Assets and Provisions

Insurance Claims

Internal Reconstruction

Managerial Remuneration

Accounting for not-for-profit Organization

Financial Reporting

Accounting for Bonus Issue and Right Issue Part

Accounting for Share Capital & Accounting Ratios

Amalgamation of Companies

Banking Companies

Accounting for Branches including Foreign Branches

Buy-back of Securities and Equity Shares with Differential Rights

Cash Flow Statements & Consolidated Financial Statements

Corporate Social Responsibility

Departmental Accounts

Accounting for Employee Stock Option Plans

Framework for preparation and presentation of Financial Statements

Hire Purchase and Installment Sale Transactions

Incomplete Records, Insurance Claims

Issue of Debentures

Liquidation of Companies

Non-banking Financial Companies

Accounting for Partnership Firms

Dissolution and Reconstitution of a Partnership Firm

Preparation of Financial Statements of a Bank

Profit or Loss pre and post Incorporation

Redemption of Debentures & Preference Shares

Special Transactions of a Bank

Description

Uplatz provides this comprehensive training on Financial Accounting & Reporting.

This Financial Accounting & Financial Reporting course will demonstrate the key accounting concepts and principles to be able to prepare financial statements and unlock critical insights into business performance and potential. You will explore how financial advisors, managers, analysts, and entrepreneurs leverage accounting to drive strategic decision-making. The Financial Accounting course will help you master the functional and technical skills needed to analyze financial statements and disclosures for use in financial analysis, and learn how accounting standards and managerial incentives affect the financial reporting process. By the end of this Financial Accounting & Reporting course, you’ll be able to read the three most common financial statements: the income statement, balance sheet, and statement of cash flows. Then you can apply these skills to real-world industry scenarios.

Financial Accounting is essentially the process of preparing financial statements that organizations use to show their financial performance and position to people outside the company including investors, creditors, suppliers, and customers. Financial reporting can be defined as the standard practices to provide stakeholders a clear depiction of an organization’s finances, including their revenue, expenses, profits, capital, and cash flow, as formal records that provide in-depth insights into financial information.

Financial accounting ensures the legal compliance for how businesses track, recognize, and measure revenue, costs, depreciation, intangible assets, goodwill, and the like. Since the investors as well as regulatory bodies want all businesses to be measured on the same grading stick and to have confidence that financial measures can be compared across businesses, hence financial accounting assumes great importance. While the occasional pro-forma statement may be issued, financial accounting is primarily dealing with accounting for historical transactions. Everything must be accounted for and should match on both sides of the accounting ledger.

Financial accounting differs from management accounting, in the sense that financial accounting is for external parties which by contrast management accounting involves preparing detailed reports and forecasts for managers inside the company. In simple words, managerial accounting information is aimed at helping managers within a company while financial accounting is aimed at providing information to external parties.

The basic goals of financial accounting involve analysis, preparation, publication of:

  • Financial statements/accounting/reporting, cash flow analysis
  • Accounting theory/practice/cycle
  • Income/retained earnings statements, balance sheets
  • GAAP, international reporting standards, standards convergence

Financial Reporting simply refers to the financial results of an organization that are released to its stakeholders and to the public. This reporting is a key function of the controller, who may be assisted by the investor relations officer if an organization is publicly held. Financial reporting typically encompasses the following documents and postings:


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  • Financial statements, which include the income statement, balance sheet, and statement of cash flows
  • Accompanying footnote disclosures, which include more detail on certain topics, as prescribed by the relevant accounting framework
  • Any financial information that the company chooses to post about itself on its website
  • Annual reports issued to shareholders
  • Any prospectus issued to potential investors concerning the issuance of securities by the organization

Financial reporting utilizes financial statements to disclose financial data that indicates the financial health of a company over during a specific period of time. The information is vital for management to make decisions about the company’s future and provides information to capital providers like creditors and investors about the profitability and financial stability of an organization.

Internal financial reporting is a business practice that involves compiling financial information on a frequent basis for use within the organization. The documents may contain confidential information, such as business indicators or KPIs, financial performance, performance indicators, etc.. These are designed to help those individuals working within the company to make informed decisions. In contrast, the external reporting involves preparing financial information to be distributed to parties outside the organization. Unlike internal reports, external reports do not contain confidential information about the company.

The recipients of the external reports include potential investors, lenders, and creditors who require the reports to evaluate the financial position of the company. The main external financial reports include the income statement, balance sheet, and statement of cash flows.

Financial Accounting & Reporting include key areas of finance & accounting such as debt management, trend identification for decision-making, real time tracking, liabilities position, progress & compliance, cash flows, communication & data access, and more.

Financial Accounting & Reporting – Course Syllabus

  1. Introduction to Financial Accounting and its importance
  2. Introduction to Financial Reporting and its importance
  3. Golden rule of accounting
  4. Recording of transactions
  5. Trial balance
  6. Bank reconciliation statement
  7. Bill of exchange
  8. Depreciation
  9. Rectification of errors
  10. Provisions and reserve
  11. Divisible profit & dividend
  12. Financial statements of companies
  13. Income recognition, classification of assets and provisions
  14. Insurance claims
  15. Internal reconstruction
  16. Managerial remuneration
  17. Accounting for not-for-profit organization
  18. Accounting for bonus issue and right issue part
  19. Accounting for share capital
  20. Accounting ratios
  21. Amalgamation of companies
  22. Banking companies
  23. Accounting for branches including foreign branches
  24. Buy-back of securities and equity shares with differential rights
  25. Cash flow statement
  26. Consolidated financial statements
  27. Corporate social responsibility
  28. Departmental accounts
  29. Accounting for employee stock option plans
  30. Framework for preparation and presentation of financial statements
  31. Hire purchase and installment sale transactions
  32. Incomplete records
  33. Insurance claims
  34. Issue of debentures
  35. Liquidation of companies
  36. Non-banking financial companies
  37. Accounting for partnership basic concepts
  38. Dissolution of partnership firm
  39. Reconstitution of a partnership firm – admission of a partner
  40. Reconstitution of a partnership firm – retirement death of a partner
  41. Preparation of financial statement of bank
  42. Profit or loss pre and post incorporation
  43. Redemption of debenture
  44. Redemption of preference shares
  45. Special transactions of bank
English
language

Content

Introduction to Financial Accounting and its importance
Introduction to Financial Accounting and its importance
Introduction to Financial Reporting and its importance
Introduction to Financial Reporting and its importance
Golden Rule of Accounting
Golden Rule of Accounting
Recording of Transactions
Part 1 – Recording of Transactions
Part 2 – Recording of Transactions
Part 3 – Recording of Transactions
Trial Balance
Trial Balance
Bank Reconciliation Statement
Bank Reconciliation Statement
Bill of Exchange
Part 1 – Bill of Exchange
Part 2 – Bill of Exchange
Depreciation
Part 1 – Depreciation
Part 2 – Depreciation
Part 3 – Depreciation
Rectification of Errors
Rectification of Errors
Provisions and Reserve
Provisions and Reserve
Divisible Profit and Dividend
Divisible Profit and Dividend
Financial Statements of Companies
Financial Statements of Companies
Income Recognition, Classification of Assets and Provisions
Part 1 – Income Recognition, Classification of Assets and Provisions
Part 2 – Income Recognition, Classification of Assets and Provisions
Part 3 – Income Recognition, Classification of Assets and Provisions
Insurance Claims
Insurance Claims
Internal Reconstruction
Internal Reconstruction
Managerial Remuneration
Managerial Remuneration
Accounting for Not-for-profit organization
Part 1 – Accounting for Not-for-profit organization
Part 2 – Accounting for Not-for-profit organization
Accounting for Bonus Issue and Right Issue
Accounting for Bonus Issue and Right Issue
Accounting for Share Capital
Part 1 – Accounting for Share Capital
Part 2 – Accounting for Share Capital
Part 3 – Accounting for Share Capital
Accounting Ratios
Part 1 – Accounting Ratios
Part 2 – Accounting Ratios
Amalgamation of Companies
Part 1 – Amalgamation of Companies
Part 2 – Amalgamation of Companies
Amalgamation, Conversion, Sale of Partnership Firms
Banking Companies
Banking Companies
Accounting for Branches including Foreign Branches
Part 1 – Accounting for Branches including Foreign Branches
Part 2 – Accounting for Branches including Foreign Branches
Part 3 – Accounting for Branches including Foreign Branches
Part 4 – Accounting for Branches including Foreign Branches
Buy-back of Securities and Equity Shares with Differential Rights
Buy-back of Securities and Equity Shares with Differential Rights
Cash Flow Statement
Part 1 – Cash Flow Statement
Part 2 – Cash Flow Statement
Consolidated Financial Statements
Part 1 – Consolidated Financial Statements
Part 2 – Consolidated Financial Statements
Part 3 – Consolidated Financial Statements
Part 4 – Consolidated Financial Statements
Corporate Social Responsibility
Part 1 – Corporate Social Responsibility
Part 2 – Corporate Social Responsibility
Departmental Accounts
Departmental Accounts
Accounting for Employee Stock Option Plans
Accounting for Employee Stock Option Plans
Framework for Preparation and Presentation of Financial Statements
Part 1 – Framework for Preparation and Presentation of Financial Statements
Part 2 – Framework for Preparation and Presentation of Financial Statements
Part 3 – Framework for Preparation and Presentation of Financial Statements
Hire Purchase and Installment Sale Transactions
Part 1 – Hire Purchase and Installment Sale Transactions
Part 2 – Hire Purchase and Installment Sale Transactions
Part 3 – Hire Purchase and Installment Sale Transactions
Incomplete Records
Incomplete Records
Investment Accounts
Investment Accounts
Issue of Debentures
Part 1 – Issue of Debentures
Part 2 – Issue of Debentures
Part 3 – Issue of Debentures
Liquidation of Companies
Part 1 – Liquidation of Companies
Part 2 – Liquidation of Companies
Non-Banking Financial Companies
Part 1 – Non-Banking Financial Companies
Part 2 – Non-Banking Financial Companies
Part 3 – Non-Banking Financial Companies
Accounting for Partnership
Part 1 – Accounting for Partnership
Part 2 – Accounting for Partnership
Dissolution of Partnership Firm
Dissolution of Partnership Firm
Reconstitution of a Partnership firm – Admission of a Partner
Part 1 – Reconstitution of a Partnership firm – Admission of a Partner
Part 2 – Reconstitution of a Partnership firm – Admission of a Partner
Reconstitution of a Partnership firm – Retirement Death of a Partner
Part 1 – Reconstitution of a Partnership firm – Retirement Death of a Partner
Part 2 – Reconstitution of a Partnership firm – Retirement Death of a Partner
Preparation of Financial Statement of a Bank
Preparation of Financial Statement of a Bank
Profit or Loss pre and post Incorporation
Profit or Loss pre and post Incorporation
Redemption of Debenture
Redemption of Debenture
Redemption of Preference Shares
Part 1 – Redemption of Preference Shares
Part 2 – Redemption of Preference Shares
Special Transactions of a Bank
Special Transactions of a Bank