Preparation and interpretation of Financial Statements

Never before has the field of accountancy been faced with many challenges as it is today especially in the preparation of financial statements where many changes have been taking place in the reporting requirements. Yet the statements are the windows through which those within communicate with those outside. There is a relationship between the way the financial statements are prepared and users’ various economic decisions in such areas as investments acquisition or disposal. While it is prudent for those within to make quality statements in particular appreciating the rules governing the preparation and presentation, it is also prudent for the users to appreciate the statements especially their meaning and implication on their economic decisions.


At the end of the course, participants will be able to:

  • Prepare financial statements;
  • Examine the importance of accounting standards and their implication;
  • Explain the benefits of quality financial statements;
  • Identify the concerns and needs of users of financial statements;
  • Appreciate the importance of governance in financial reporting and financial management;
  • Examine the role of financial controls;
  • Explain the modern accounting and implication on the firm survival.



  • The accounting conventions;
  • Regulatory framework of accounting;
  • Overview of IAS/IFRS/IPSAs relevant for the preparation and presentation of the financial statements;
  • Professional ethics (ethical, legal and social issues);
  • Fraudulent financial reporting;
  • Reporting: Triple bottom line;
  • Governance and financial management;
  • The main financial statements and how to prepare them;
  • Practical issues in the presentation of the main financial statements;
  • Financial statements analysis and the appraisal of company’s performance;
  • Tax and tax trend in financial management;
  • Financial control system.

Recent trends and future changes in financial reporting.