Advanced Financial Accounting

1. Explain financial statement assumptions and standards
2. Prepare consolidated financial statements
3. Analyze financial performance using ratios
4. Apply accounting treatments for business combinations
5. Understand valuation approaches for businesses and shares

13 weeks, about 50 hours in total. Yours will differ.

1. Week 1Module 1: Review of Company Accounts

   • Unit 1: Review of Company Accounts · 3 hours

     Review elements of financial statements: assets, liabilities, equity, revenue, and expenses.. Understand the components of financial statements: statement of financial position, comprehensive income, changes in equity, and cash flows.. Practice preparing basic financial statements..

2. Week 2Module 1: Review of Company Accounts

   • Unit 2: Legal and Regulatory Framework of Group Accounts · 3 hours

     Identify and understand the key laws and accounting standards that regulate group accounts.. Study the Companies and Allied Matters Act (CAMA) and relevant International Financial Reporting Standards (IFRS).. Familiarize yourself with the regulatory documents for preparing group accounts..

3. Week 3Module 1: Review of Company Accounts

   • Unit 3: Consolidated Statement of Financial Position · 4 hours

     Learn the procedures for preparing a consolidated statement of financial position.. Understand how to calculate goodwill and non-controlling interest (NCI).. Practice consolidation adjustments and account for inter-company items..

4. Week 4Module 1: Review of Company Accounts

   • Unit 4: Consolidated Income Statement · 4 hours

     Understand the consolidation procedures for income statements.. Learn how to eliminate inter-company sales and unrealized profits.. Account for non-controlling interest (NCI) in the consolidated income statement..

5. Week 5Module 1: Review of Company Accounts

   • Unit 5: Associated Companies · 4 hours

     Define associated companies and understand the equity method of accounting.. Learn how to account for 'upstream' and 'downstream' transactions.. Understand how to handle associate's losses and impairment losses..

6. Week 6Module 1: Review of Company Accounts

   • Unit 6: Multiple Subsidiary and Vertical Structure · 4 hours

     Understand the concept of multiple subsidiaries and vertical group structures.. Learn how to determine effective interest in a vertical group.. Practice preparing consolidated financial statements for vertical group structures..

7. Week 7Module Two

   • Unit 1: Ratio and Interpretation of Account · 4 hours

     Understand the tools for interpreting financial analysis, including comparative and common-size statements.. Compute and interpret key financial ratios.. Carry out intra-firm and inter-firm analysis..

8. Week 8Module Two

   • Unit 2: Business Combination (Takeover, Mergers and Acquisitions) · 4 hours

     Define business combination and understand different forms: mergers, acquisitions, and takeovers.. Learn the reasons and benefits of business combinations.. Understand the accounting treatment for business combinations..

9. Week 9Module Two

   • Unit 3: Reconstructions and Reorganization · 4 hours

     Understand the meaning of internal reconstruction and reorganization.. Identify situations that call for internal reconstruction.. Learn the rules for capital reduction and the steps involved in capital reconstruction..

10. Week 10Module Two

    • Unit 4: Account for Banks (with special reference to relevant legislation) · 4 hours

      Identify the relevant laws and regulations governing banks in Nigeria.. Understand specific provisions relating to bank accounts.. Describe the financial statements of banks..

11. Week 11Module Two

    • Unit 5: Account for Insurance Companies (with special reference to relevant legislation) · 4 hours

      Understand the regulatory framework of the insurance industry.. Learn about the Insurance Act of 2003 and relevant accounting standards.. Familiarize yourself with the basis of accounting for insurance companies..

12. Week 12Module Two

    • Unit 6: Insolvency and Bankruptcy · 4 hours

      Define insolvency and bankruptcy and understand the objectives of bankruptcy laws.. Learn the conditions for filing a bankruptcy petition against a debtor.. Understand the legal disabilities of a bankrupt and the duties of trustees..

13. Week 13Module Two

    • Unit 7: Valuation of business and shares · 4 hours

      Understand the definition and reasons for business valuation.. Learn about different concepts of value: book value, market value, intrinsic value, etc.. Familiarize yourself with various valuation approaches: asset-based, income-based, and market-based..