Preparation and Presentation of Financial Statements

You can start studying this course at any time of the year as soon as you have completed your registration, you can get started. There are no specific registration dates!

This course contains a CourseBookTM, which is an innovative fusion of the traditional textbook and online course, combining quality educational content with an interactive, social learning experience to promote success. The course has been broken into three Study Phases:

1. Study Phase 1 Quiz:
   • Introduction to financial statements of a sole proprietorship
   • Depreciable assets
   • Preparation of financial statements – Complete records
   • Preparation of financial statements – Incomplete records
2. Study Phase 2 Quiz:
   • Non-profit organizations
   • Partnerships
   • Close corporations
   • Companies
3. Study Phase 3 Quiz:
   • Statement of cash flows
   • Analysis and interpretation of financial statements
   • Introduction to IFRS for SMEs
   • Recording salaries and wages
   • Accounting for a manufacturing enterprise
   • Professional ethics and internal control

Work through the workbook. At the end of each Study Phase, there is a quiz to complete. You need to complete and pass each of the quizzes with a minimum of 70% to get a certificate. No restrictions on your attempts.

After completing this course, you should be able to:

• Explain the process for preparing and adjusting financial statements for sole proprietorships, focusing on profitability and financial position.
• Describe methods for calculating depreciation, managing asset registers, and recognizing gains or losses from asset disposals.
• Summarize the approach to preparing financial statements from complete and incomplete records, ensuring accuracy and compliance.
• Compare financial statement preparations for non-profit organizations, highlighting unique financial aspects and statement types.
• Demonstrate the dynamics of financial statement preparation for partnerships and close corporations, with a focus on equity management.
• Interpret corporate financial statements, understanding shareholder equity, share impacts, and types of companies.
• Outline the steps for cash flow statement preparation, identifying key activities for financial analysis and decision-making.
• Discuss financial statement analysis techniques, including ratio analysis and its implications for investments, gearing, and investment ratios.
• Identify key concepts of IFRS for SMEs, applying these principles to SME financial statement presentations.
• Illustrate combined skills in accounting for wages, salaries, and manufacturing enterprises, alongside ethics and internal control for comprehensive financial management.