Financial Course Summary: Financial Reporting (FR)
This course develops the knowledge and skills to apply accounting standards and the conceptual framework in preparing financial statements for single entities and groups. Students will learn to interpret financial statements, analyze business performance using ratios, and communicate financial information to stakeholders. Through IFRS, consolidation, and case studies, students will gain skills for the ACCA FR exam and professional finance roles.
*Course Modules*
*A. Conceptual and Regulatory Framework*
1. The need for and purpose of the Conceptual Framework
2. Qualitative characteristics of financial information
3. The use of accounting standards and regulatory environment
*B. Accounting for Transactions in Financial Statements*
1. Tangible and intangible non-current assets
2. Inventory and agricultural produce
3. Financial instruments
4. Leasing
5. Provisions and events after reporting period
6. Taxation - current and deferred
7. Revenue recognition
8. Government grants and borrowing costs
9. Employee benefits and share-based payment
*C. Preparation of Financial Statements*
1. Statement of financial position, profit or loss, and cash flows
2. Changes in equity and notes to financial statements
3. Preparation from trial balance and accounting records
*D. Preparation of Consolidated Financial Statements*
1. Subsidiaries - full consolidation
2. Associates and joint arrangements
3. Changes in group structure
*E. Interpretation of Financial Statements*
1. Ratio analysis - profitability, liquidity, efficiency, gearing
2. Trend analysis and limitations of financial statements
3. Interpreting financial information and reporting to stakeholders
- Teacher: Sanitha A C