Financial Accounting & Reporting Certification

Accounting, Transactions, Financial statements of companies, Income recognition, Financial reporting, Insurance claims..

What you'll 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:

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

Introduction to Financial Accounting and its importance

Introduction to Financial Reporting and its importance

Golden rule of accounting

Recording of transactions

Trial balance

Bank reconciliation statement

Bill of exchange

Depreciation

Rectification of errors

Provisions and reserve

Divisible profit & dividend

Financial statements of companies

Income recognition, classification of assets and provisions

Insurance claims

Internal reconstruction

Managerial remuneration

Accounting for not-for-profit organization

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 statement

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 basic concepts

Dissolution of partnership firm

Reconstitution of a partnership firm – admission of a partner

Reconstitution of a partnership firm – retirement death of a partner

Preparation of financial statement of bank

Profit or loss pre and post incorporation

Redemption of debenture

Redemption of preference shares

Special transactions of bank

Who this course is for:
Accounts Officers & Executives
Financial Analysts & Consultants
Accountants & Cost Accountants
Chartered Accountants (CA) Professionals
CA Students (IPCC & Final)
Newbies and Beginners in Finance & Accounting
Entrepreneurs & Businessmen
Anyone aspiring for a career in Financial Accounting & Reporting
Tax Department Professionals
Finance Directors & CFOs
Financial Advisors & Managers
CS Professionals & Students
ICWA/ CMA Students
Candidates who are preparing for jobs as Accountant, Taxation Manager, Auditor, Finance
Internal & External Auditors
Banking Professionals & Relationship Managers
Investors
B Com, M Com Students
School & College Students with Commerce background
Individuals who are working in NBFCs, listed companies, banks and insurance companies
Financial Services & Loan Managers

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