How to Prepare a Set of Financial Statements – ISRS 4410
|CPD Hours:||Attendance at this seminar will secure 2 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)|
Every year end presents a stressful time for most businesses, as it often co-incides with the need to prepare an annual set of financial statements. Preparing financial statements is a tricky endeavour and most entities are reliant on software to complete the process. For those that don’t have the advantage of software, where would the compilation process even start? Truthfully, there is a lot of work that goes into preparing the accounting records before financial statements are compiled, regardless of using software or not. Accordingly, ProBeta Training has prepared a training session aiming to answer the following questions: • What type of entities need to prepare financial statements? • Which accounting framework can I, or should I use? • Can I prepare the financial statements myself, or do I have to outsource? • Do I always need a balance sheet, income statement and a cash flow statement? • What best practice guidance is available for preparing financial statements, e.g. ISRS 4410? • What pre-liminary work needs to take place before the financial statements are prepared? • What are the specific year end adjustments that I should look out for? This session will help you be mindful of all factors that affect financial statement preparation, and place you in the most informed position to facilitate an easier completion of financial statements. PLEASE NOTE: No actual financial statements will be prepared during the session, due to time limitations. This webinar is a theory-based session.
The objective of this course is to: 1. Simplify the legislation affecting compilations, so that you will know your rights and responsibilities 2. Empower you through understanding what is required to be done prior to compiling the actual statements, so as to make the overall financial statement preparation process a success 3. Explore the compilation standard, ISRS 4410’s, basic requirements to ensure you are performing compilations using best practice
During this session, we will • Help you understand the legislation that affects the financial statement preparation process, • Draw your attention to the work that needs to take place before the financial statements are compiled; and • Consider the implications of the best practice guidance, being ISRS 4410, when undertaking Compilation engagements on behalf of clients
The following individuals will benefit from attending this course: • Accounting / finance department staff members involved in the financial reporting process • Trainee accountants / auditors who are assisting clients with compilation engagements