Cambridge
Academy
In London

Course Objectives

By the end of this course, participants will be able to:

·        Provide participants with a set of knowledge of the new International Financial Reporting Standards (IFRS) and identifies the changes that have accompanied the application of these standards to international and Arab business environments.

·        Develop the skills of participants in the design of final financial reports in accordance with the current standard and the proposed standard.

·        Provide participants with all the professional problems that accompany the application of some accounting treatments to some accounting standards.

·        Provide participants with a set of skills in how to use and benefit from financial reports through critical reading of them.

Target Audience

This course is designed for:

·        Accountants, heads of accounts and financial sectors

·        Financial analysts in governmental and private economic institutions

·        Internal and external auditors for various sectors

Course Outlines

Day 1: The development of the accounting profession according to the latest global developments:

·        Accounting standards (International – IFRS – Public Sector Standards IPSAS)

·        Joint Project for the Development of IASB & FASB Accounting Standards (2005-2020)

·        Why abide to international and Arab accounting standards .

·        Differences between international, Egyptian, and Gulf accounting standards

·        The latest changes to International Accounting Standards and Financial Reporting Standards

Day 2: Accounting systems in governmental and private business organizations:

·        An introduction to the objectives, nature, and types of accounting systems in organizations.

·        Basic components of accounting science

·        Financial operations and the cycle of the accounting system

·        Dual enrolment and registration cycle

·        Applied cases to capital formation processes and cash operations

Day 3: Accounting cycle (proof and carryover):

·        Financial operations related to purchases, sales, returns, discounts,

·        Financial operations related to commercial papers (receipt of a receivable, acceptance of a payment sheet)

·        Posting of accounts to the ledgers

·        Ledger balances and process cases

Day 4: Closing of final accounts and inventory adjustments of revenues and expenses:

·        Score calculations

·        Inventory adjustments of assets

·        Expense and revenue inventory adjustments

·        Preparation of the trial balance in balances and totals

·        Final inventory adjustments of assets:

·        Inventory adjustments of fixed assets

·        Inventory adjustments of current assets

·        Inventory settlements of moral assets

Day 5:  Inventory adjustments of financial lease assets

·        Inventory adjustments for impairment of assets

·        Presentation of financial statements according to IFRS:

·        View menus in light of IAS 1–IAS 7–IFRS (DRAFT).

·        View the balance sheet

·        View the Comprehensive Income Statement

·        View Cash Flow Statement

·        Complementary clarifications