Financial Accounting

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Course Outline

The Context And Purpose Of Financial Reporting

The Scope and Purpose of, Financial Statements
Users’ and Stakeholders’ Needs
The Main Elements of Financial Reports
The Regulatory Framework
Duties and Responsibilities of Those Charged with Governance

The Use Of Double-entry And Accounting Systems

Double-entry Book-keeping Principles
Ledger Accounts, Books of Prime Entry and Journals

The Qualitative Characteristics Of Fin. Information

The Qualitative Characteristics of Financial Information

Recording Transactions And Events

Sales and Purchases
Cash
Inventory
Tangible non-current assets.
Depreciation
Intangible non-current assets and amortisation
Accruals and prepayments
Receivables and payables
Provisions and contingencies.
Capital structure and finance costs

Preparing A Trial Balance

Trial Balance
Correction of Errors
Control Accounts and Reconciliations
Bank Reconciliation

Preparing Basic Financial Statements

Statements of financial position
Statements of profit or loss and other comprehensive income
Disclosure notes
Events after the reporting period
Statements of cash flows (excluding partnerships)
Incomplete records

Preparing Simple Consolidated Financial Statements

Subsidiaries
Associates

Interpretation Of Financial Statements

Importance and Purpose of Analysis of Financial Statements
Ratios

*All Exams Questions are included.

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