Preparing Financial Statements

Directors are agents of the shareholders. They manage the company and render stewardship accounts in the form of financial statements to the shareholders. Directors are responsible for the preparation of financial statements as stated by Companies and Allied Matter Act 1990. These financial statements are Statement of financial Position, Income statement of comprehensive income, notes to the accounts, Statement of changes in Equity and Cash flow statement. Though the directors delegate the task of preparing financial statements to the Accounting department, they are responsible for the contents and accuracy of the financial statements. This course will teach participants how to prepare financial statements in line with International Financial Reporting Standards.

Learning contents:

  • The definition of accounting
  • The accounting equation
  • Accounting principles, concepts and conventions
  • The international accounting standards board & IFRS
  • The accounting process
  • The trial balance
  • The income statement
  • The statement of financial position
  • Notes to the accounts and cash flow statements
  • Statement of changes in Equity

For whom:   Accountants and staff in Accounting department

Fee:                Seventy thousand naira only

Duration:     One day