Resolving Financial Reporting issues in practice 2024

Available from

15 April, 2024

CPD

3

Course Category:

Financial Reporting

Level:

Moderate

This webinar highlights the critical role that accountants play in organisations through their financial reporting functions. April 2024

 

Category: Financial Reporting

R 375 VAT Incl.

Product Information

What you will learn

By attending this webinar you will gain the following competencies: 

  • Understand the background of the regulatory requirements impacting financial reporting
  • To explore the importance of accurate financial reporting for stakeholders
  • Gain an understanding of some common financial reporting issues that accountants in practice findchallenging and why they are challenging or recurring.
  • Understand the key financial reporting areas and provide a process ofidentifying reporting issues in a systematic manner 
  • Gain some techniques for proactively addressing financial reporting challengessuch as collaboration and communication between finance teams and auditors, as wellas other tools and resources

 

Description

Resolving financial reporting issues in practice involves a multifaceted approach aimed at addressing challenges effectively and efficiently. This process encompasses identifying the root causes of discrepancies and recurring problems within financial reports. Accountants and financial professionals must delve into the intricate details of transactions, data processing, and reporting methodologies to pinpoint areas of concern accurately. By conducting thorough analyses and leveraging specialized expertise, practitioners can develop tailored solutions to rectify these issues and enhance the accuracy and reliability of financial reporting.  

 

Price

The following pricing apply:

Adhoc: R375.00

Subscription: Included for free in Accountant in PracticeAccountant in Practice plus Tax.

 

Content

The webinar will cover the following topics:  

    • Regulatory Framework and Standards

    o Overview of relevant accounting standards (e.g. IFRS).

    o Explanation of regulatory requirements impacting financial reporting

     

    • Importance of accurate financial reporting for stakeholders

    o Informed Decision Making

    o Risk Assessment

    o Transparency and Accountability

    o Legal and Regulatory Compliance

    o Investor Confidence

    o Credibility and Reputation

    o Cost of Capital

     

    • Overview of common financial reporting challenges faced by practitioners

    o Revenue Recognition

    o Expense Recognition

    o Asset Valuation

    o Financial Instruments

    o Lease Accounting

    o Tax Reporting

    o Fair Value Measurements

    o Business Combinations and Consolidation

    o Disclosure Requirements

    o Internal Controls and Compliance

     

    •  Identifying Reporting Issues

    o Review Financial Statements

    o Compare to Industry Standards

    o Analyze Accounting Policies

    o Assess Disclosure Quality

    o Scrutinize Internal Controls

    o Consider Auditor Insights

    o Investigate Unusual Transactions

    o Evaluate Management Integrity

    o Monitor Red Flags

    o Seek Professional Advice

     

    • Key Reporting Areas

    o Income Statement

    o Balance Sheet

    o Cash Flow Statement

    o Statement of Changes in Equity

    o Notes to Financial Statements

    o Directors’ / Members’ Report

    o Financial Ratios and Metrics

    o Compliance and Disclosures

    o Non-Financial Reporting

     

    •  Communication and Collaboration

    o Clarity and Accuracy

    o Timely Resolution

    o Alignment of Objectives

    o Enhanced Transparency

    o Compliance and Regulatory Requirements

    o Risk Management

    o Continuous Improvement

    o Conflict Resolution

    o Cost Savings

    o Stakeholder Confidence

     

    •  Tools and Resources to resolve financial reporting issues

    o Accounting Software

    o Financial Analysis Tools

    o Audit Software

    o Financial Reporting Templates

    o Financial Reporting Guides and Manuals 

    o Training and Certification Programs

    o Internal Training within firms

    o Professional Networks and Forums

 

Requirements

There are no preconditions for this course.
Moderate level.
Recorded webinar made available on a specified date.

 

Presenter

Constance Kawelenga CA(SA)

Constance Kawelenga is a chartered accountant with a broad proficiency in finance, taxation and auditing. She has attained a diverse range of experience – from Big 4 audit experience, commercial multinational exposure, to running an audit and consulting boutique over the past 8 years. 

In 2013, Constance founded the Zuva Group of entities, focusing on audit, financial management, taxation, secretarial, business mentorship as well as business valuations.  

 

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