Financial Reporting: The Current Climate (F33)

objectives

This informative programme will examine the rules and practices of financial reporting by individual and groups of companies. Delegates will explore how financial reporting applies in a local and international context. Examples will be drawn from a number of sectors including: oil and gas, banking and manufacturing industries.

who should attend

This programme is designed for managers, directors and those personnel involved in the preparation, use and interpretation of financial accounts.

programme profile

• Financial reporting framework
  • Regulatory framework
  • Development of standards
• Reporting performance and revenue recognition
  • Presentation of financial statements (IAS1)
  • Extraordinary items and prior period adjustments
• Cash flow statements (IAS7)
  • Requirement and purpose
• Accounting for non current assets (IAS16)
  • Recognition criteria
  • Derecognition criteria
  • Intangible non current assets (IAS38)
  • Impairment of assets (IAS36)
• Inventories (IAS2) and constructions contracts (IAS11)
  • Measurement and recognition of inventories
  • Recognition of contract and expenses
  • Borrowing costs (IAS23)
• Accounting for leases (IAS17)
• The nature of leases
  • Finance and operating leases
  • Accounting for lessor and lessee
• Accounting for contingencies (IAS37)
  • Provisions, contingent assets and liabilities
  • Recognition criteria
• Post balance sheet events (IAS10) and related party transactions (IAS24)
  • Recognition and disclosure
• Accounting for groups (IAS7, IAS27)
• Accounting for associates (IAS28) and joint ventures (IAS31)
• Accounting for foreign exchange (IAS21)
• SORP: Accounting for Oil & Gas Exploration

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