Certificate Course in Financial Reporting and Analysis

Duration 10 days 20 modules · 65 contact hours
Level Intermediate Certificate on completion
Who attends Financial Analysts, Finance Managers and others
Fee from USD 2,200 KSh 190,000 for Kenyan organisations
Where 52 cities + online See dates by city
Next start 9 Nov 2026 Course code SD-A-089

Before you join: Participants should understand basic double-entry bookkeeping, the purpose of the income statement, statement of financial position and cash flow statement, and common accounting terms such as assets, liabilities, revenue and expenses.

Dates & prices

Two start dates a month in every city, and live online on weekdays or weekends. Fees are per participant; classroom fees include tuition, materials, lunch and refreshments, and the certificate.

Suggest a date or city

Showing the next six months. Later dates, other cities and private deliveries for your team are available on request.

Course overview

Financial reports can appear credible while concealing weak cash generation, aggressive revenue recognition, deteriorating working capital or unsustainable debt. Managers, finance staff and analysts need to move beyond reading headline profit figures: they must understand how accounting policies shape reported results, test the quality of earnings, identify material risks and communicate findings that support decisions on investment, lending, budgeting and performance management.

This 10-day Certificate Course in Financial Reporting and Analysis develops the technical and analytical skills needed to interpret, prepare and assess financial statements under IFRS. Participants examine the income statement, statement of financial position, cash flow statement and notes; assess revenue, inventory, asset, lease, provision and tax accounting; and analyse consolidation, related-party transactions and accounting estimates. They apply common-size analysis, trend analysis, DuPont analysis, liquidity and solvency ratios, working-capital measures, cash-flow diagnostics, forecasting models and valuation methods.

Instructor-led briefings are paired with financial statement cases, spreadsheet-based analysis, group reviews and reporting simulations. Participants work with realistic reporting packs drawn from banking, manufacturing, infrastructure, retail and public-interest entities. They leave with a completed financial reporting analysis pack containing statement adjustments, ratio analysis, cash-flow review, forecast assumptions, valuation outputs, risk findings and a management-ready presentation.

The programme suits professionals who work with financial information but need stronger judgement about what reported numbers mean. It is particularly relevant where participants must challenge budgets, assess counterparties, review investments, monitor performance or explain financial results to senior decision-makers.

What you will be able to do

  • Interpret IFRS-based financial statements and accompanying disclosures for decision-making
  • Assess revenue recognition, expense classification and accounting-policy effects on reported profit
  • Construct common-size, trend and ratio analyses from published financial statements
  • Evaluate liquidity, working capital, cash conversion and debt-servicing capacity
  • Apply DuPont analysis to diagnose the drivers of return on equity
  • Build an integrated financial forecast using operating, cash-flow and financing assumptions
  • Estimate business value using discounted cash flow and market-multiple methods
  • Present a documented financial analysis report with findings, risks and recommendations

Benefits of attending

For you

  • Read financial statements with greater confidence and professional scepticism
  • Explain profit, cash flow and balance-sheet movements to non-financial stakeholders
  • Identify warning signs in reported earnings, liquidity and debt positions
  • Produce a structured financial analysis pack for management or credit decisions
  • Strengthen readiness for finance, analysis, reporting and planning responsibilities

For your organisation

  • Improves challenge of business-unit results, budgets and forecast assumptions
  • Supports earlier identification of liquidity pressure and reporting-risk indicators
  • Raises consistency in ratio analysis, financial review and management reporting
  • Improves assessment of suppliers, borrowers, investment targets and funded projects
  • Produces clearer evidence for lending, investment, audit and performance decisions

Course modules

20 modules over 10 days

Participants can identify the main financial reports, their links and the decisions they support.

  • Purpose and users of general-purpose financial reporting under IFRS
  • Income statement, financial position and cash flow statement linkages
  • Notes, accounting policies and estimates as analytical evidence
  • Accrual accounting compared with cash-based performance measurement
  • Materiality judgements and their effect on reported information
  • Analyst questions for investment, lending and management decisions

Participants can trace transactions through the accounting cycle and assess policy choices.

  • Double-entry mechanics underlying assets, liabilities, equity, income and expenses
  • Journal entries, ledgers and trial balances before financial reporting
  • Adjusting entries for accruals, prepayments, depreciation and impairment
  • Accounting policy selection, consistency and retrospective policy changes
  • Management estimates affecting provisions, useful lives and expected losses
  • Statement presentation choices that influence analytical interpretation

Participants can assess revenue recognition and receivables risks affecting reported earnings.

  • IFRS 15 five-step model for revenue recognition
  • Performance obligations, transaction price and variable consideration estimates
  • Contract assets, contract liabilities and receivables distinguished
  • Cut-off testing indicators for premature or delayed revenue
  • Expected credit loss assessment for trade receivables
  • Revenue disclosures used to challenge earnings quality

Participants can evaluate inventory accounting and its effects on margins and working capital.

  • IAS 2 cost formulas: FIFO and weighted-average methods
  • Inventory cost components, overhead allocation and abnormal waste
  • Net realisable value testing and inventory write-downs
  • Gross margin analysis using price, volume and mix
  • Inventory turnover and days inventory outstanding calculations
  • Obsolescence indicators within ageing reports and product data

Participants can analyse long-lived asset measurement, depreciation and impairment decisions.

  • IAS 16 recognition and initial measurement of property equipment
  • Component depreciation, useful lives and residual value estimates
  • Capital expenditure versus repair expense classification decisions
  • IAS 36 impairment indicators and cash-generating unit testing
  • Value in use compared with fair value less costs
  • Asset turnover effects from capitalisation and impairment choices

Participants can evaluate obligations that affect liabilities, cash commitments and future earnings.

  • IFRS 16 lessee right-of-use assets and lease liabilities
  • Lease term, discount rate and variable payment judgements
  • IAS 37 recognition criteria for provisions and contingencies
  • Provision estimation, discounting and subsequent measurement requirements
  • Current tax, deferred tax and temporary differences
  • Commitments and contingent liabilities assessed through note disclosures

Participants can interpret group accounts and identify risks within group structures.

  • IFRS 10 control assessment and consolidation scope decisions
  • Elimination of intragroup balances, sales and unrealised profits
  • Non-controlling interests and equity attribution within consolidated results
  • Equity method accounting for associates and joint ventures
  • IAS 24 related-party disclosures and conflict indicators
  • Minority interests, acquisitions and goodwill analytical implications

Participants can interpret cash flow statements and reconcile profit with operating cash generation.

  • IAS 7 operating, investing and financing cash flow categories
  • Indirect-method reconciliation from profit to operating cash flow
  • Non-cash charges, working-capital movements and operating cash conversion
  • Free cash flow calculated from operating cash and capital expenditure
  • Cash flow red flags: receivable growth, capitalised costs, factoring
  • Cash conversion cycle using inventory, receivable and payable days

Participants can identify accounting and reporting indicators requiring further investigation.

  • Recurring versus non-recurring income and expense classification
  • Adjusted EBITDA measures assessed against IFRS reported results
  • Cookie-jar reserves, big-bath charges and earnings smoothing indicators
  • Capitalised development costs tested against operating expense trends
  • Related-party transactions examined for circular revenue or funding
  • Analytical review procedures for unexplained financial statement movements

Participants can convert financial statements into comparable analytical views and explain movements.

  • Vertical analysis using common-size income statement percentages
  • Common-size balance sheets for funding and asset structure
  • Horizontal analysis of multi-year growth and movement patterns
  • Base-year index numbers for long-term performance comparison
  • Peer comparison criteria: business model, scale and accounting policies
  • Variance explanations linking operational drivers to financial outcomes

Participants can diagnose profitability drivers using ratios and the DuPont framework.

  • Return on equity decomposed through the DuPont framework
  • Net profit margin, asset turnover and financial leverage relationships
  • Return on assets and return on invested capital
  • EBITDA, EBIT and net profit margin interpretation
  • Operating expense ratios linked to revenue and activity drivers
  • Benchmark ranges interpreted with business-model and cycle context

Participants can assess short-term liquidity and identify working-capital improvement priorities.

  • Current ratio, quick ratio and cash ratio calculations
  • Receivables days analysed by customer concentration and ageing
  • Payables days assessed against supplier terms and liquidity pressure
  • Working-capital movements reconciled to operating cash flow
  • Thirteen-week cash forecast inputs and weekly review disciplines
  • Liquidity warning indicators from covenants, arrears and refinancing needs

Participants can evaluate long-term financial risk, debt capacity and covenant headroom.

  • Debt-to-equity, debt-to-capital and net debt measures
  • Interest coverage and fixed-charge coverage ratio calculations
  • EBITDA adjustments tested for lender and analyst credibility
  • Debt maturity profiles and refinancing concentration risk
  • Covenant calculations, headroom monitoring and breach consequences
  • Capital structure choices and their effect on shareholder returns

Participants can build linked financial forecasts from operational and financing assumptions.

  • Driver-based revenue forecast using volume, price and mix
  • Cost forecasts separated into fixed, variable and step costs
  • Working-capital assumptions linked to sales, purchases and payment terms
  • Integrated income statement, balance sheet and cash flow forecast
  • Debt schedules, interest calculations and financing requirement estimates
  • Scenario analysis using base, downside and upside assumptions

Participants can assess budget performance and produce decision-focused variance explanations.

  • Annual budget structure aligned with strategic and operating plans
  • Flexible budgets adjusted for actual activity volumes
  • Price, volume, mix and efficiency variance analysis
  • Forecast versus budget comparison and reforecast trigger points
  • Management commentary separating facts, causes, risks and actions
  • KPI selection linked to financial and operating drivers

Participants can estimate enterprise value and assess investment returns using standard methods.

  • Enterprise value and equity value distinguished clearly
  • Discounted cash flow valuation using forecast free cash flows
  • Weighted average cost of capital components and assumptions
  • Terminal value calculated using growth and exit-multiple approaches
  • Trading multiples: EV EBITDA, price earnings and price book
  • Sensitivity tables for growth, discount rates and operating assumptions

Participants can assess reporting controls and governance arrangements supporting reliable information.

  • COSO internal control components applied to financial reporting
  • Segregation of duties within transaction processing and approvals
  • Close process controls over reconciliations, journals and review
  • Management override risks and journal-entry red flags
  • Audit committee responsibilities for financial reporting oversight
  • Disclosure controls for timely, accurate external reporting

Participants can adapt financial analysis methods to different operating and funding models.

  • Banks: net interest margin, loan losses and capital adequacy
  • Manufacturers: capacity utilisation, inventory absorption and operating leverage
  • Retailers: same-store sales, lease commitments and stock turns
  • Infrastructure projects: project cash flows, covenants and concession assets
  • NGOs: restricted funds, donor receivables and programme cost ratios
  • Public entities: budget execution, commitments and fiscal sustainability

Participants can communicate financial findings clearly for management, credit and investment decisions.

  • Analysis report structure: conclusion, evidence, risks and recommendations
  • Waterfall charts explaining revenue, margin and cash movements
  • Ratio dashboards designed for executive review meetings
  • Materiality-based prioritisation of findings and management actions
  • Questioning techniques for challenging assumptions and unusual results
  • Board-level messages separating performance, risk and required decisions

Participants can build, review and present a complete financial reporting analysis pack with evidence-based recommendations.

  • Map reported statements, accounting policies and note disclosures
  • Normalise material items affecting earnings and cash flow
  • Calculate trend, common-size, profitability, liquidity and solvency measures
  • Build integrated forecast scenarios from documented operating assumptions
  • Estimate value using discounted cash flow and comparable multiples
  • Present findings, risks, actions and decision recommendations to reviewers

Exercises and examples are adapted to each cohort's sectors and roles.

What you take back to work

  1. IFRS financial statement review checklist
  2. Earnings quality and red-flag analysis template
  3. Ratio, trend and DuPont analysis model
  4. Thirteen-week cash forecast template
  5. Integrated financial forecast model
  6. Financial reporting analysis presentation pack

Who should attend

  • Financial Analysts — need to convert reported numbers into defensible investment and performance insights
  • Finance Managers — need stronger review methods for plans, results and business cases
  • Accountants — need to explain accounting treatments and financial statement implications clearly
  • Credit Analysts — need to assess borrower cash generation, covenants and repayment capacity
  • Internal Auditors — need to identify reporting risks, unusual movements and control weaknesses
  • Investment and Programme Managers — need to assess financial viability before funding decisions

Skills and tools covered

IFRS statement interpretationEarnings quality assessmentRatio and trend analysisCash flow forecastingBusiness valuationFinancial analysis reporting

Tools and standards

IFRS, IAS 7, COSO Internal Control Framework, DuPont analysis

How the course runs

Training methodology

The course combines focused instructor briefings with guided analysis of annual reports, management accounts and reporting notes. Participants calculate ratios, reconcile profit to cash, assess accounting treatments and build forecast assumptions in spreadsheet-based cases. Small-group reviews test alternative interpretations of reported results, while reporting simulations require concise findings for executives, lenders or investment committees. Trainers use sector-relevant cases and allow time for participants to apply methods to their own reporting packs, subject to confidentiality requirements.

Requirements and prerequisites

Participants should understand basic double-entry bookkeeping, the purpose of the income statement, statement of financial position and cash flow statement, and common accounting terms such as assets, liabilities, revenue and expenses. At least one year of experience using financial reports, budgets or management accounts is helpful. Participants should be comfortable working with percentages and simple spreadsheet formulas. Prior IFRS certification, audit experience, advanced valuation knowledge, financial modelling expertise or previous investment-analysis experience is not required.

A typical training day

08:30 – 10:30First session
10:30 – 10:45Refreshment break
10:45 – 12:30Second session
12:30 – 13:30Lunch and networking
13:30 – 15:00Third session
15:00 – 15:15Refreshment break
15:15 – 16:30Workshop and daily review

Live online deliveries follow the same structure in East Africa Time, with shorter screen blocks and longer breaks.

What the fee includes

  • Instruction by a practitioner facilitator
  • Full course workbook and materials
  • Exercise files, templates and case studies
  • Refreshments and lunch on classroom deliveries
  • Certificate of completion
  • Post-course application plan

Frequently asked questions

Participants need basic familiarity with accounting terms, financial statements and spreadsheet calculations. They do not need an accounting qualification, audit background or prior valuation experience.

A laptop with spreadsheet software is recommended for analysis and forecasting work. Participants may bring anonymised financial statements, management accounts or reporting questions from their own organisation.

The course is designed for finance professionals, accountants, analysts, credit staff, auditors and managers who review financial information. It is also suitable for investment, programme and procurement professionals responsible for financial assessments.

Financial accounting courses focus primarily on recording transactions and preparing accounts, while modelling courses concentrate on spreadsheet construction. This programme connects accounting treatment, statement interpretation, analytical review, forecasting, valuation and decision reporting.

Participants can use the review checklists, ratio model, cash forecast and reporting format to assess monthly results, counterparties, budgets and investment cases. The methods also support more informed questions during management and audit reviews.

Each training day runs from 08:30 to 16:30 and provides about 6.5 contact hours. The first part builds reporting and analysis foundations; the later part focuses on forecasts, valuation, controls, communication and the final capstone analysis pack.

Questions about this course?

Ask about dates, fees, group bookings or running it for your team. Our training team replies by email.

Ask on WhatsApp info@skillsetdevelopment.com

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