Short Course in Financial Statement Compilation | SA Accounting Academy
Mastering Financial Statement Compilation. This course offers a holistic approach, covering everything from the foundational aspects to advanced nuances of financial statement compilation. Participants will be equipped with both theoretical knowledge and practical skills, ensuring readiness for real-world challenges.
About this Course
The Drafting Financial Statements short course is a foundational program designed to equip you with the essential knowledge and skills to draft precise and compliant financial statements. This course is meticulously structured to cover all the fundamental topics required to master the art of compiling annual financial statements in accordance with the South African Companies Act, 2008, regulations, and international accounting standards.
The course is divided into 16 modules, each focusing on a specific component of financial statements. These modules are designed to provide a holistic understanding of financial statements, from their creation to their analysis. You'll learn to interpret financial data, critically analyze financial statements, and provide informed advice to clients. The course also emphasizes identifying potential errors in financial statements, a skill that is crucial in maintaining the accuracy and reliability of these documents.
Upon successful completion of this course, you will be equipped with the knowledge and skills to confidently compile annual financial statements. You will also be able to interpret and analyze financial statements, providing valuable insights and advice to clients. This course is not just about learning the theory; it's about applying that knowledge in real-world scenarios, enhancing your practical understanding of financial statements.
Whether you're an accounting professional looking to upgrade your skills, a business owner seeking to understand your company's financial health, or a student aiming to broaden your knowledge in accounting, this course is a valuable resource. It's designed to cater to a wide range of learners, offering flexible learning options to suit your schedule.
Looking for a more advanced course in Financial Statements? Click here to find out more about our Professional Certificate in Drafting Financial Statements.
Competencies Developed in this Course
Through this course, you will develop the necessary skills and knowledge to compile a complete set of financial statements that comply with current South African laws, regulations, and applicable international accounting standards, including the following competencies:
- Understanding of various accounting frameworks and the ability to select the appropriate one for the organization's needs.
- Knowledge of ISRS 4410 requirements and the ability to conduct a compilation engagement in compliance with the standard.
- Understanding of regulatory requirements, such as the Companies Act, that impact the preparation and presentation of financial statements.
- Ability to gather and organize supporting documents and prepare a trial balance.
- Knowledge of financial statement categories and elements and the ability to accurately link trial balance figures to appropriate categories.
- Ability to draft and troubleshoot financial statements, including the Statement of Financial Position, Statement of Comprehensive Income, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements.
- Ability to prepare tax calculations and account for current and deferred taxes in financial statements.
- Knowledge of basic principles of consolidation and the ability to draft consolidated financial statements.
- Ability to interpret financial statements using ratio analysis.
- Competence in creating a cover page, index, management info page, and compilation report while understanding the legal and regulatory requirements for these components.
Course Delivery, Duration, and Effort
This 3 month short course is delivered through the SA Accounting Academy online learning campus. The course is divided into 16 modules. In this way you can maintain a work-life balance whilst studying and improving your professional skills. The required effort is 4 to 8 hours per week.
Lecturers
Nestene Botha CA(SA)
Nestene completed her B.com (Hons) at North-West University in 2012. In 2014 she completed her professional articles and her Masters Degree in Chartered Accountancy. She then registered with SAICA as a Chartered Accountant in 2015.
Nestene has lectured on the audit programme at the University of Cape Town. She successfully helped to establish a branch for Real Time Accounting in Tableview where her role was to evaluate, improve & implement a brand building & marketing strategy for the RTA brand. After this stint at RTA, Nestene started her own audit, tax & accounting practice which she has since grown into a reputable firm in the Tableview area with 60 clients and two staff members.
Innocent Shongedza
Innocent has more than 12 years of industry experience in various finance and accounting roles. During the past 10-years Innocent has moved into the training space where he facilitated work-readiness programs for thousands of accounting and finance graduates. He is an assessor and moderator registered with various SETAs where he assesses and moderates accounting and finance qualifications. Innocent also trains QuickBooks Online as well as Sage Pastel.
Admission Requirements
Individuals with a foundational understanding of accounting principles are encouraged to apply. This course is particularly suitable for those who have a basic knowledge of accounting, whether through formal education or practical experience.
Accreditation
The short course is aligned to the International Federation of Accountants (IFAC) International Education Standard (IES) 7 and is recognised for CPD / CPE by relevant accounting professional bodies.
Assessments
This course includes formative assessments to test your knowledge throughout the modules. Learners must achieve all competencies of the course.
Assessment and Certification
On successful completion (i.e. competence in all modules) of this course the learners will be awarded:
- Certificate of Competence issued by the SA Accounting Academy.
Curriculum
- Module 1 - Accounting frameworks.
- Module 2 – Requirements of ISRS 4410.
- Module 3 – Companies Act and other regulatory requirements.
- Module 4 – Securing supporting documents and finalising the trial balance.
- Module 5 – Linking trial balance figures to the correct financial statement categories.
- Module 6 – Drafting and troubleshooting the statement of financial position.
- Module 7 – Drafting and troubleshooting the statement of comprehensive income.
- Module 8 – Drafting and troubleshooting the statement of changes in equity.
- Module 9 – Drafting and troubleshooting the statement of cash flows.
- Module 10 - Drafting accounting policies.
- Module 11 – Drafting notes to the financial statements.
- Module 12 – Preparing the tax calculation.
- Module 13 – Creating the compilation report for financial statements.
- Module 14 – Basic principles of consolidation.
- Module 15 – Drafting consolidated financial statements.
- Module 16 – Interpreting a set of financial statements using ratio analysis.
For more information on what will be covered in the curriculum please download the prospectus.
About SA Accounting Academy
The SA Accounting Academy is an accredited private QCTO, SAICA and ICB qualifications provider. We are committed to providing our students with the highest quality training and support, to ensure that your skills and knowledge are up to date and ready to face the challenges of the modern workplace. Qualifications and courses delivered are designed to ensure that you reach your professional goals and advance your career. With our experienced faculty, staff, and resources, you can be confident that you will receive the highest quality of training.
SAAA is a Level 2 B-BBEE contributor, with 125% procurement recognition. Training spend on certain solutions can be allocated against the Skills Development element of the B-BBEE Scorecard through accredited and nonaccredited training or claimed through SETA grants. In addition, 25% of your Skills Expenditure can be claimed on non-accredited training or courses.
Course Fees
Invest in your future with our comprehensive course. Our fee is an all-inclusive investment in your future.
The course fee is R 5 375.00 and consists of:
Educational Resources:
- Online Materials: Access a wealth of online resources, from e-books to webinars, enhancing your learning experience.
Learning Support:
- Formative Assessments: Reinforce your understanding with assessments on different topics.
- Learner Forum: Engage in meaningful peer-to-peer interactions through our dedicated learner forum. Share insights, ask questions, and collaborate on projects to enhance your learning experience.
- Continuous Support: Our dedicated team is always on standby to assist with any academic or administrative queries, ensuring a smooth learning process.
Flexibility and Convenience:
- Study Online: Complete your course and take your assessments online, giving you the freedom to learn from anywhere.
Payment Method
Debit / Credit Card or Instant EFT
You can pay directly on our website for an easy, secure, instant transaction. During promotional periods, customers can take advantage of additional savings. This is the fastest and most efficient option, saving time and money.
EFT / Bank Deposit
You can make a payment directly into our bank account using your Online Banking App, Online Banking services, or by visiting your local bank branch.
Your Company / Employer
It may be beneficial for your company to invest in training for its staff members. As there are financial and tax advantages for doing so, please speak with your employer or Training / HR manager about the possibility of paying for this training.
Third-Party
If you have someone willing to pay for your studies, such as a parent or relative, they can either log in and pay on our website or pay via any of the payment options above on your behalf.
Payment Options
Option 1: Once-off payment
- R 5 375.00
Corporate Training Solutions
At the Accounting Academy, we recognize the evolving needs of businesses in today's dynamic environment. Beyond our standard webinar offerings, we provide tailored corporate training solutions designed to empower your team with the latest in accounting and professional skills. Whether you're looking for online sessions or face-to-face training, our programs are crafted to ensure a comprehensive and engaging learning experience.
Drawing inspiration from modern training methodologies, our corporate solutions are interactive, adaptable, and focused on real-world applications. We prioritize hands-on learning, ensuring your team can immediately apply their newfound knowledge in practical scenarios.
Interested in a bespoke corporate training experience? Reach out to us at [email protected] or call 010 593 0466. Together, let's design a training program that elevates your team's capabilities and aligns with your organizational goals.
Contact Us
Ready to elevate your expertise in financial statement compilation? Enroll now and embark on a transformative learning journey with SA Accounting Academy.
Have any questions or need any assistance? Contact us today!
- Online chat through our website https://accountingacademy.co.za
- WhatsApp: Start chatting (+27635026114)
- Call: +27 (0)10 593 0466
- Email: [email protected]