Modern Methods of Preparing Final Accounts in accordance with International Standards


Course Objectives


  • Familiarizing participants with modern concepts of closing accounting cycles and how to flow accounting data through the accounting system.
  • Providing participants with the skills to apply the procedures for determining the expenses and incomes of the financial period.
  • Enabling participants to acquire the skills of closing accounts, preparing final accounts and budgets in accordance with sound technical rules and inconformity with international accounting standards.
  • Empowering participants to prepare basic financial reports to reflect directly and indirectly on the financial performance evaluation.


Who Should Attend?


  • Financial managers and their deputies, account managers, heads of financial and accounting sections and those who perform the functions of closing, reviewing and auditing of final accounts and preparing or controlling of financial reports, directors and heads of audit and review units, financial advisors, and personnel who are prepared to take over these positions, and those who wish to develop their skills in the field.
  • Those who use financial information in decision-making or submitting financial reports to senior administrations.


Course Schedule

Internationally recognized accounting frameworks


  • The concepts, rules and elements of accounting information systems.
  • Accounting according to the cash base and applying the accrual basis.
  • The documentary and accounting cycle and the double-entry system.
  • The concept, importance and objectives of the financial statements.
  • The structure of calculations and the inputs and outputs of the accounting system..
  • Classifying and tabulating the financial operations and budget equivalence.


Preparing accounting and financial settlements


  • Settling expenses and incomes.
  • Identifying receivables and submissions.
  • Preparing the post-adjustment trail balance.
  • The outputs of the accounting system according to the accrual basis.
  • Fundamentals of accounting measurement of financial position elements.
  • Applied cases.


Technical rules for the preparing final accounts


  • Fixed asset reconciliation of inventory.
  • Inventory and assessment of stock, fund and bank.
  • Transfers to accounts.
  • Preparing the trail balance.
  • Preparing accounts and financial statements.


International Accounting Standards (IAS) and International Financial Reporting Standards  (IFRS)


  • The financial statements are compiled in accordance with international standards and international Financial reporting standards
  • IAS No. 1 presentation of financial statements.
  • IAS No. 14 reports on sectors.
  • IAS No. 29 financial report in high-inflation economies.
  • IAS No. 34 Financial progress reports.
  • IFRS No. 1 application of IFRS for the first time.
  • IFRS No. (5) Non-current assets held for sale and discontinued operations.
  • IFRS No. 7 Financial instruments: disclosures.
  • Practical cases and task forces.


Financial reports and Performance appraisal tool


  • Performance appraisal reports and accountability reports.
  • Performance appraisal reports for business results.
  • Liquidity performance appraisal reports.
  • Performance appraisal reports of the funding structure.
  • Performance appraisal reports on productivity and efficiency of asset utilization.
  • Evaluating the financial reporting systems to achieve effective and efficient design and operation.
  • Practical situations and realistic applications.



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