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 do not have the advantage of software, where would the compilation process even start?

This training session will 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 preliminary 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.

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:

• Simplify the legislation affecting compilations, so that you will know your rights and responsibilities
• 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
• 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.

Note: If you're unable to attend the live webinar on the scheduled date, you can still book and pay for the webinar – the course notes and a copy of the recording will be provided for self-study in your own time.

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