Financial Statements Preparation Training Course

Duration 5 days 10 modules · 33 contact hours
Level Intermediate Certificate on completion
Who attends Financial Accountants, Financial Reporting Managers and others
Fee from USD 1,100 KSh 95,000 for Kenyan organisations
Where 52 cities + online See dates by city
Next start 16 Nov 2026 Course code SD-A-104

Before you join: Participants should understand double-entry bookkeeping, trial balances, accruals, prepayments, depreciation and the basic structure of financial statements.

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

Preparing annual financial statements requires more than extracting balances from a ledger. Finance teams must apply recognition and measurement requirements, determine materiality, reconcile supporting schedules, produce clear primary statements and disclosures, and explain significant judgments to auditors, boards and regulators. Errors in classification, cut-off, consolidation, cash flow reporting or note disclosures can delay approval, create audit findings and weaken confidence in reported results.

This course develops the practical accounting and reporting skills required to prepare IFRS-based annual financial statements and annual report content. Participants work through the reporting cycle from trial balance mapping and close controls to statement preparation, consolidation, cash flow reporting, notes, accounting policies and audit-ready evidence. The programme addresses key standards including IFRS 15, IFRS 9, IFRS 16, IFRS 10, IAS 7, IAS 8, IAS 12, IAS 21, IAS 36 and IAS 37, alongside IAS 1 presentation requirements and IFRS 18 transition considerations.

Instructor-led sessions combine focused technical briefings with financial statement cases, group analysis, calculation work, review simulations and reporting-cycle planning. Participants leave with a reusable financial statements preparation pack containing close checklists, trial balance mapping structures, statement formats, disclosure checklists and review procedures. The course is delivered over five days in a classroom in 50+ cities or live online, with approximately 32.5 contact hours and a certificate of completion.

The course suits accounting and finance professionals who contribute to statutory reporting, consolidated accounts, audit support or annual report production. It is particularly relevant to organisations reporting under IFRS or preparing to improve the quality, control and timeliness of their financial reporting process.

What you will be able to do

  • Prepare IFRS-based primary financial statements from mapped trial balance and supporting schedule data
  • Apply materiality, recognition, measurement and presentation judgments to annual reporting issues
  • Draft statement of financial position, profit or loss, equity and cash flow statements
  • Calculate selected accounting adjustments for revenue, leases, tax, impairments and financial instruments
  • Produce consolidation worksheet extracts including eliminations, goodwill and non-controlling interests
  • Evaluate disclosure requirements for accounting policies, estimates, risks, related parties and segments
  • Review financial statements using tie-outs, analytical procedures and disclosure checklists
  • Establish a controlled annual reporting timetable with audit-ready evidence and review responsibilities

Benefits of attending

For you

  • Greater confidence preparing and reviewing annual financial statements under IFRS
  • Practical methods for resolving common year-end reporting and disclosure issues
  • Stronger ability to explain accounting judgments to auditors, managers and boards
  • Reusable formats for cash flow statements, rollforwards and disclosure schedules
  • Improved readiness for financial reporting, group accounting and controllership responsibilities

For your organisation

  • Fewer late adjustments caused by weak reconciliations, cut-off errors and unsupported balances
  • More consistent application of IFRS across entities, reporting teams and annual report sections
  • Better quality audit evidence for significant judgments, estimates and disclosures
  • Shorter reporting cycles through clear close calendars, ownership and review controls
  • Reduced risk of omitted disclosures, inconsistent narratives and presentation errors

Course modules

10 modules over 5 days

Participants can plan an annual financial reporting process using clear reporting boundaries, materiality judgments and close responsibilities.

  • Financial reporting purpose, reporting entity boundaries and annual reporting timetable
  • IFRS Conceptual Framework: relevance, faithful representation, comparability and materiality judgments
  • General-purpose financial statements versus management accounts, budgets and tax returns
  • Materiality assessment using quantitative thresholds and qualitative reporting considerations
  • Reporting dates, comparative periods and events after the reporting period
  • Close calendars assigning owners, dependencies, review points and publication deadlines
  • Annual report components: financial statements, notes, governance and narrative reports

Participants can convert closing ledger data into controlled, reconciled reporting information.

  • Trial balance mapping from ledger accounts to financial statement line items
  • Month-end close checklist covering reconciliations, journals, cut-off and review
  • Journal-entry controls separating preparer, reviewer, approver and posting authority
  • Reconcile bank, receivables, payables, inventory and intercompany account balances
  • Cut-off testing for sales, purchases, accruals, prepayments and inventory movements
  • Supporting schedules linking subledgers, fixed assets and payroll to general ledger
  • Analytical review using period comparisons, ratios and variance explanations

Participants can prepare and present primary financial statements using applicable presentation requirements.

  • Statement presentation requirements under IAS 1 and transition considerations under IFRS 18
  • Classify current and non-current assets and liabilities using operating-cycle criteria
  • Present profit or loss, other comprehensive income and owner changes
  • Aggregate material line items while disaggregating relevant classes of transactions
  • Select functional or nature-of-expense analysis for operating expense presentation
  • Build statement of financial position from mapped closing balances
  • Draft equity movement statement including dividends, reserves and prior-period adjustments

Participants can apply core recognition and measurement requirements to major operating balances.

  • IFRS 15 five-step model for revenue contracts and performance obligations
  • Estimate variable consideration, contract modifications and significant financing components
  • IAS 2 inventory cost formulas, write-downs and net realisable value
  • IAS 16 component accounting, depreciation methods, revaluation and impairment indicators
  • IAS 38 recognition criteria for development costs, intangibles and amortisation
  • IAS 36 cash-generating units, impairment testing and reversal restrictions
  • Prepare asset rollforwards supporting statement balances and note disclosures

Participants can prepare adjustments and disclosures for significant financing and obligation balances.

  • IFRS 9 classification, amortised cost, fair value and expected credit losses
  • Calculate effective interest using amortised-cost schedules for loans and bonds
  • IAS 37 provisions, contingent liabilities and onerous contract assessments
  • IAS 12 current tax, deferred tax bases and temporary differences
  • IFRS 16 lease liabilities, right-of-use assets and modification accounting
  • Classify equity and financial liabilities under IAS 32 contractual terms
  • Construct liability rollforwards for borrowings, leases, provisions and tax

Participants can prepare core consolidation adjustments and interpret common group reporting issues.

  • IFRS 10 control assessment using power, variable returns and linkage
  • Consolidation worksheet eliminating investment, intragroup balances, sales and unrealised profit
  • Calculate goodwill and non-controlling interests under IFRS 3 acquisition accounting
  • IAS 21 translation of foreign operations and exchange differences
  • Associate accounting using IAS 28 equity method and impairment indicators
  • Common-control and step-acquisition issues requiring documented accounting policy judgments
  • Prepare consolidated statement extracts from parent and subsidiary trial balances

Participants can prepare and reconcile a cash flow statement from accounting records.

  • IAS 7 cash flow classification for operating, investing and financing activities
  • Indirect-method operating cash flow reconciliation from profit to net cash
  • Direct-method cash flow information, customer receipts and supplier payment analysis
  • Non-cash transactions, restricted cash and overdraft presentation requirements
  • Foreign-currency cash flows and exchange-rate effects on cash balances
  • Prepare cash flow statements from comparative balance sheets and ledger data
  • Reconcile closing cash and cash equivalents to statement balances

Participants can identify, draft and review material financial statement disclosures.

  • Material accounting policy disclosures tailored to transactions and reporting judgments
  • IAS 1 judgments and estimation uncertainty disclosures with sensitivity information
  • IFRS 7 liquidity, market and credit risk disclosure tables
  • IFRS 13 fair value hierarchy, valuation techniques and sensitivity disclosures
  • Related-party disclosures under IAS 24, including key management compensation
  • Segment disclosures under IFRS 8 using management-reporting information
  • Build note disclosure checklists linked to completed financial statements

Participants can manage the review, evidence and approval processes supporting annual report publication.

  • Annual report production plan from close completion through board approval
  • Management commentary aligned with financial results, risks and performance measures
  • Audit-ready evidence files supporting balances, judgments, estimates and disclosures
  • Disclosure committee review of consistency between narrative reporting and financial statements
  • Going-concern assessment, liquidity evidence and material uncertainty disclosure requirements
  • Subsequent-events evaluation under IAS 10 before financial statement authorisation
  • Version control, proofing and cross-referencing across report sections

Participants can identify reporting errors, document corrections and improve the next reporting cycle.

  • Financial statement review using tie-outs, casting checks and comparative analytics
  • Detect classification errors, omitted disclosures and inconsistent accounting policy application
  • IAS 8 treatment of errors, changes in estimates and policy changes
  • Review subsequent adjustments against materiality thresholds and approval protocols
  • Prepare board-ready issue papers for significant judgments and proposed corrections
  • Respond to auditor queries with evidence, rationale and revised disclosures
  • Personal application plan for the next reporting cycle and control improvements

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

What you take back to work

  1. Annual financial reporting timetable template
  2. Trial balance mapping and reconciliation workbook
  3. Primary financial statement preparation format
  4. Cash flow statement preparation model
  5. IFRS disclosure checklist
  6. Financial statement review and sign-off checklist

Who should attend

  • Financial Accountants — prepare statutory accounts and supporting schedules for review
  • Financial Reporting Managers — coordinate annual report production, technical judgments and deadlines
  • Senior Accountants — take responsibility for complex balances, reconciliations and disclosures
  • Group Accountants — prepare consolidation adjustments and subsidiary reporting packages
  • Finance Managers — review reported results before submission to executives and boards
  • Internal Auditors — assess reporting controls, evidence quality and disclosure risks

Skills and tools covered

Financial statement preparationIFRS technical accountingConsolidation accountingCash flow reportingDisclosure complianceReporting close controls

Tools and standards

IFRS Accounting Standards, IAS 1 Presentation of Financial Statements, IFRS 18 Presentation and Disclosure in Financial Statements, IAS 7 Statement of Cash Flows

How the course runs

Training methodology

The course uses short technical briefings followed by worked financial reporting cases, calculation tasks, group reviews and reporting simulations. Participants analyse trial balances, supporting schedules, accounting issues and draft disclosures using IFRS requirements. Cases reflect reporting challenges found in corporate groups, banks, public bodies and international operations. Facilitated discussions focus on judgment, documentation and review evidence. Each participant develops an application plan for improving a current reporting process, control or reporting pack.

Requirements and prerequisites

Participants should understand double-entry bookkeeping, trial balances, accruals, prepayments, depreciation and the basic structure of financial statements. Experience in an accounting, reporting, audit or finance role is expected, ideally with exposure to month-end or year-end close activities. Familiarity with IFRS terminology is useful but not essential; key requirements are explained and applied during the course. Participants do not need prior consolidation experience, advanced financial modelling skills, audit qualifications or specialist tax knowledge.

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 should already understand basic accounting entries, trial balances, accruals and the main financial statements. Prior IFRS study is useful but not required, as the course explains the standards needed for the reporting cases.

Bring a calculator and, where permitted by your employer, a recent chart of accounts, close checklist or anonymised reporting issue. Course materials are provided, including reporting formats and disclosure checklists.

It is designed for financial accountants, reporting managers, senior accountants, group accountants, finance managers and internal auditors. It is most useful for professionals involved in statutory accounts, consolidated accounts or annual report production.

Bookkeeping courses focus on recording transactions, while IFRS fundamentals courses explain standard requirements at an introductory level. This programme focuses on assembling, reviewing and supporting a complete set of annual financial statements from close data through approval.

Participants can use the close timetable, mapping structure, statement formats and disclosure checklist during their next month-end or year-end process. The methods also support stronger audit files, clearer review documentation and faster resolution of reporting issues.

Each day runs from 08:30 to 16:30 and provides about 6.5 contact hours, totalling approximately 32.5 hours. Time is allocated to technical instruction, financial statement cases, calculation work, group review activities and application planning.

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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