By the end of this course, participants will:

• Understand the legislation and frameworks governing financial statement preparation.
• Be aware of the preliminary work required before compiling financial statements.
• Gain insights into the application of ISRS 4410 for compilation engagements.
• Know their rights and responsibilities in the financial statement preparation process.
  
  

Understanding the Scope of Financial Statements

• Which types of entities need to prepare financial statements?
• Choosing the appropriate accounting framework (IFRS, IFRS for SMEs, or another).

Outsourcing vs. Internal Preparation

• Can the financial statements be prepared in-house, or should they be outsourced?

Key Components of Financial Statements

• Do financial statements always require a balance sheet, income statement, and cash flow statement?
• Understanding the minimum requirements for financial reporting.

Best Practices and Guidance under ISRS 4410

• Overview of ISRS 4410: Guidance for compilation engagements.
• Responsibilities of the accountant when preparing or compiling financial statements.

Preliminary Work Before Compilation

• Identifying year-end tasks and adjustments required before starting the compilation.
• Key areas to focus on, including reconciliations and reviewing supporting documentation.

Year-End Adjustments and Final Preparations

• Common adjustments to look out for at year-end (e.g., accruals, provisions, and depreciation).
• Ensuring completeness and accuracy before compiling the financial statements.

Rights, Responsibilities, and Compliance

• Legal and regulatory requirements affecting the financial statement preparation process.
  
  

This course is ideal for individuals involved in the financial reporting process, including:

• Accounting and finance department staff responsible for preparing financial statements.
• Trainee accountants and auditors assisting clients with compilation engagements.