Preparing Financial Statements and the Annual Report

The annual report is the organisation’s most scrutinised document, read by regulators, lenders, investors and the public. «Preparing Financial Statements and the Annual Report» guides finance teams through the year-end process: closing timetable, trial balance review, year-end adjustments, consolidation entries, preparation of the primary statements and notes under IFRS, disclosure checklists, management commentary, governance and sustainability sections, and coordination with external auditors and audit committees. It addresses regulatory filing expectations of GCC capital market authorities and companies regulators.

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NEVADA | PROFESSIONAL EXPERIENCE

Program Professional Framework

Preparing Financial Statements and the Annual Report

Program Overview

The annual report is the organisation's most scrutinised document, read by regulators, lenders, investors and the public. «Preparing Financial Statements and the Annual Report» guides finance teams through the year-end process: closing timetable, trial balance review, year-end adjustments, consolidation entries, preparation of the primary statements and notes under IFRS, disclosure checklists, management commentary, governance and sustainability sections, and coordination with external auditors and audit committees. It addresses regulatory filing expectations of GCC capital market authorities and companies regulators.

Learning Outcomes

  • ✓Plan a year-end closing timetable with responsibilities, deadlines and review points.
  • ✓Prepare year-end adjustments and consolidation entries from trial balances of group entities.
  • ✓Prepare the primary financial statements and key notes in compliance with IFRS.
  • ✓Complete a disclosure checklist and resolve gaps in notes and accounting policies.
  • ✓Draft the management commentary section of the annual report consistent with the financial statements.
  • ✓Coordinate the audit process, including the audit file, schedules and responses to auditor queries.

Target Audience

  • Financial reporting managers and accountants
  • Group consolidation accountants
  • Financial controllers and CFO office staff
  • Investor relations and corporate governance officers

Detailed Program Modules

01The Year-End Reporting Cycle
  • Closing timetable and responsibilities
  • Hard close versus fast close practices
  • Regulatory reporting deadlines in GCC markets
02Year-End Adjustments
  • Accruals, provisions and impairments
  • Inventory, receivables and asset reviews
  • Subsequent events
03Group Consolidation
  • Intercompany eliminations
  • Non-controlling interests and goodwill
  • Foreign subsidiaries and translation
04Preparing the Statements and Notes
  • Primary statements under IFRS
  • Accounting policies and significant judgements
  • Disclosure checklists and materiality
05The Annual Report Narrative
  • Chairman, board and management commentary
  • Corporate governance and risk sections
  • Sustainability and ESG reporting
06Audit Coordination and Publication
  • Preparing the audit file and supporting schedules
  • Audit committee review and approval
  • Final proofing and publication

Training Methodology

Interactive expert-led sessions grounded in workplace examples
Case studies and practical exercises drawn from the region
Group workshops with peer review of decisions and deliverables
Formative feedback against clear performance criteria

Applied Project & Assessment

Applied Project

Participants prepare a year-end reporting pack for a provided small group: closing timetable, consolidation workings, financial statements with selected notes, a completed disclosure checklist and a two-page management commentary draft.

Assessment

Short diagnostic at the start, practical tasks linked to each learning outcome, and evaluation of the applied project against published criteria.

University Certificate & International Accreditation

Professional Certificate accredited by City University Malaysia in Preparing Financial Statements and the Annual Report

International accreditation: International Auditors Group (IAG)