Trial Balance to Financial Reporting

Overview

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This course features Coursera Coach! A smarter way to learn with interactive, real-time conversations that help you test your knowledge, challenge assumptions, and deepen your understanding as you progress through the course. This course will help you gain a deep understanding of the accounting processes, from reconciliations to the preparation of comprehensive financial reports. You’ll learn essential techniques for bank and supplier reconciliations, as well as the critical corrections for accounting errors. Through these skills, you'll also master the process of financial statement preparation, including adjustments and the completion of cash flow statements, among other advanced reporting concepts. The course is structured to first guide you through reconciliation processes, followed by the preparation and correction of trial balances, and ultimately, the detailed crafting of financial reports. Along the way, you will also learn how to apply international accounting standards like IAS 10 and IFRS 15 and explore more advanced concepts like the statement of cash flows. This course is designed for professionals and students who wish to build or enhance their knowledge of financial reporting. No prior accounting experience is required, making it ideal for beginners or those looking to further their career in finance and accounting. By the end of the course, you will be able to prepare trial balances, correct accounting errors, apply necessary adjustments, and create comprehensive financial statements, including cash flow statements.

Syllabus

Reconciliations

In this module, we will explore the process of performing reconciliations in accounting. We will cover how to prepare bank reconciliation statements and supplier reconciliations. Additionally, we will summarize key reconciliation concepts and techniques, helping you understand the importance of maintaining accurate financial records.

Trial Balance & Correction of Errors

In this module, we will dive into the preparation of the trial balance and its significance in financial reporting. We will also cover various types of accounting errors and demonstrate how to correct them using journal entries. Furthermore, we will explore how to address errors impacting profit calculations, ensuring the accuracy of your financial records.

Financial Statements & Advanced Reporting

In this module, we will focus on advanced reporting techniques and the preparation of financial statements. We will walk through the process of applying final adjustments to financial data and preparing sole trader financial statements. Additionally, we will explore international accounting standards, including IAS 10 and IFRS 15, to enhance your understanding of advanced financial reporting.