Introduction

A programme designed specifically for accountants and auditors at whatever level who need to learn and keep up to date with the latest accepted accounting principles and their implementation in practice. The seminar will also be relevant to and of value to non-financial managers who get involved with and are responsible for financial reporting.

The programme covers the entire subject of financial accounting principles from the theory, through specific practice to acceptable reporting.

Course Objectives

Participants attending the programme will:

• Understand financial accounting concepts
• The drivers behind latest accounting theory and practice
• The theory of specific ifrs’s
• How to implement acceptable accounting policies
• How to improve financial reporting

Training Methodology

Participants will learn by active participation during the programme through mini lectures, the use of exercises, syndicate and group discussion, and discussions on "real life" issues in their organisations. Individual and group sessions will practice the implementation of accounting principles and the devising of acceptable accounting policies.

Organisational Impact

• Staff who all understand the fundamental and latest accounting principles – leading to consistently reliable and ethically prepared figures and financial statements.
• Better company image though knowledgeable staff and properly prepared statements
• Benefits gained from non-accounting staff appreciating the effect of accounting principles

Personal Impact

• Learning, revision and development of all participants.
• The ability to discuss knowledgeably with internal and external accountants
• Confidence that what is been done is right and proper

Competencies Emphasised

• Enhanced understanding of generally accepted accounting principles.
• Whatever your use of and link with financial reports you must understand the fundamental and latest practice in accounting.
• This seminar gives you a thorough base of knowledge whatever your background.
• It looks at why we have principles, the ethical issues involved with compliance.
• The seminar then studies the theory and practical implementation of all accepted accounting principles, looking at all relevant specific situations.

Who Should Attend?

• Accountants – qualified must keep up to date
• Accountant trainees – need to know the principles
• Auditors, who must be aware of the fundamental and latest, accepted accounting practices
• Non-financial personnel – accounting principles affect everyone in business

Course Outlines

Day 1 – Why have principles at all?

• Why have principles?
• Ethical issues
• How detailed should rules be?
• The fundamental concepts and terminology

Day 2 – Financial reports

• Balance sheet and income statement layouts
• Alternative layouts and terminology
• Principles and practice in cash flow accounting

Day 3 – Specific Accounting Practice I

• Fixed asset accounting – values and impairment
• Accounting for inventories and work-in-progress
• Liability accounting – provisions and loans
• Accounting for revenue – construction contracts and other situations
• Accounting for leased assets – off balance sheet finance issues.

Day 4 – Specific Accounting Practice II

• Accounting for investments – JV’s, associates, subsidiaries
• Accounting for groups
• Accounting for disposals
• Accounting for financial instruments and financial institutions – banks.
• Other specialised accounting and the principles behind it

Day 5 – Reporting – complying with the principles

• Report writing – report layouts
• Writing practical accounting policies
• Explaining performance through ratios and graphs
• Non - direct financial information – related party transactions, and other relevant information
• Compliance checklists
  

Oxford Management Centre
John Eccles House
Robert Robinson Ave
Oxford Science Park
Oxford
OX4 4GP
United Kingdom

Tel: +44 1865 338088

Fax: +44 1865 338100

email info@oxford-management.com