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Advanced Financial Accounting

Course AF-023

Advanced Financial Accounting

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Course Schedules Course Overview Course Objectives Target Audience Methodology Daily Agenda

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Introduction

Course overview

Advanced financial accounting plays a critical role in ensuring that organisations produce accurate, transparent, and compliant financial statements while addressing increasingly complex business transactions. As companies expand their operations, enter new markets, restructure their activities, and engage in sophisticated financial arrangements, accounting professionals must apply sound technical judgment and maintain a thorough understanding of financial reporting requirements.

Beyond routine bookkeeping and financial statement preparation, advanced financial accounting involves the recognition, measurement, presentation, and disclosure of complex transactions, including business combinations, consolidated financial statements, financial instruments, leases, deferred taxation, impairment, provisions, and foreign currency transactions. These areas require professionals to interpret accounting standards, evaluate financial evidence, and understand the implications of accounting decisions for organisational performance and stakeholder confidence.

The Advanced Financial Accounting course provides finance and accounting professionals with an in-depth understanding of advanced financial reporting principles and their practical application under International Financial Reporting Standards (IFRS). Participants explore complex accounting treatments, group financial reporting, financial statement analysis, and the professional judgments involved in preparing reliable financial information.

Through technical case studies, financial calculations, consolidation exercises, and reporting simulations, participants develop the competencies needed to address challenging accounting issues, strengthen financial reporting quality, and support effective financial governance.

Professional Problems This Course Is Designed to Solve

Incorrect treatment of complex financial transactions: Applying appropriate accounting principles to business combinations, financial instruments, leases, provisions, and other technically demanding transactions.

Difficulties preparing consolidated financial statements: Accounting for subsidiaries, non-controlling interests, intercompany transactions, goodwill, and group reporting adjustments.

Inconsistent application of financial reporting standards: Improving the interpretation and application of relevant IFRS requirements across complex accounting situations.

Errors in asset and liability measurement: Strengthening accounting judgments relating to fair value, impairment, depreciation, provisions, and financial liabilities.

Weak financial statement disclosures: Improving the completeness, clarity, and consistency of disclosures relating to accounting policies, estimates, financial risks, and significant transactions.

Challenges with deferred tax and foreign currency accounting: Applying appropriate recognition, measurement, and reporting techniques to temporary differences and foreign currency transactions.

Limited ability to evaluate financial reporting quality: Analysing accounting judgments, identifying reporting risks, and assessing the financial implications of alternative accounting treatments.

View full course outline

What you will achieve

Learning objectives

  • Apply advanced financial accounting principles to complex business transactions
  • Interpret relevant IFRS requirements and evaluate their financial reporting implications
  • Prepare accounting treatments for complex assets, liabilities, income, and expenses
  • Account for business combinations and calculate goodwill
  • Prepare consolidated financial statements and group accounting adjustments
  • Evaluate accounting treatments for financial instruments and related risks
  • Apply accounting requirements for leases, impairment, provisions, and contingencies
  • Calculate and account for current and deferred taxation

Who should attend

Target audience

  • This course is suitable for:
  • Senior accountants and chief accountants
  • Financial controllers and finance managers
  • Financial reporting and consolidation specialists
  • Group accountants and corporate reporting professionals
  • Financial accounting managers and supervisors
  • Internal and external auditors
  • IFRS reporting and technical accounting specialists

Methodology

Learning approach

  • The programme combines instructor-led technical discussions, IFRS application exercises, financial statement case studies, numerical calculations, consolidation workshops, and practical financial reporting simulations.
  • Participants work with illustrative financial statements, accounting transaction scenarios, subsidiary reporting information, and financial disclosure examples. Exercises focus on identifying applicable accounting requirements, preparing journal entries, calculating financial adjustments, evaluating accounting judgments, and presenting financial information accurately.
  • The methodology emphasises the practical application of advanced financial accounting principles rather than theoretical memorisation, enabling participants to strengthen technical competence and professional judgment.

Complete course outline

Five focused days of learning and application

The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.

Day 1

Advanced Financial Reporting Principles and Complex Accounting Transactions

  1. Reviewing the IFRS Conceptual Framework and its application to recognition, measurement, presentation, and disclosure decisions
  2. Evaluating accounting policies, changes in accounting estimates, prior-period errors, and significant professional judgments under applicable reporting requirements
  3. Applying advanced revenue recognition principles to multiple performance obligations, variable consideration, contract modifications, and long-term arrangements
  4. Coffee break
  5. Applying advanced revenue recognition principles to multiple performance obligations, variable consideration, contract modifications, and long-term arrangements (continued)
  6. Accounting for property, plant and equipment, intangible assets, investment property, and subsequent measurement considerations
  7. Evaluating fair value measurement techniques, valuation inputs, and disclosure requirements for relevant assets and liabilities
  8. Practical workshop: Analysing complex accounting transactions and preparing appropriate recognition, measurement, journal entry, and disclosure treatments

Day 2

Business Combinations and Consolidated Financial Statements

  1. Understanding group accounting principles, control assessments, and the financial reporting requirements for subsidiaries and consolidated entities
  2. Applying acquisition accounting to business combinations, including consideration transferred, identifiable net assets, and goodwill calculation
  3. Accounting for non-controlling interests, acquisition-date fair value adjustments, and subsequent group reporting effects
  4. Preparing consolidation adjustments for intercompany balances, intragroup transactions, unrealised profits, and intra-group dividends
  5. Coffee break
  6. Preparing consolidation adjustments for intercompany balances, intragroup transactions, unrealised profits, and intra-group dividends (continued)
  7. Evaluating changes in ownership interests, loss of control, associates, and joint arrangements under relevant IFRS requirements
  8. Practical workshop: Preparing consolidated financial statements from parent and subsidiary financial information, including goodwill, non-controlling interests, and consolidation eliminations

Day 3

Financial Instruments, Leases, Impairment and Provisions

  1. Applying financial instrument classification and measurement principles, including amortised cost, fair value through profit or loss, and fair value through other comprehensive income
  2. Understanding expected credit loss requirements and their application to receivables, loans, and other relevant financial assets
  3. Accounting for financial liabilities, effective interest calculations, derecognition, and selected hedge accounting considerations
  4. Coffee break
  5. Accounting for financial liabilities, effective interest calculations, derecognition, and selected hedge accounting considerations (continued)
  6. Applying lease accounting requirements to right-of-use assets, lease liabilities, subsequent measurement, and lease modifications
  7. Evaluating impairment indicators, recoverable amounts, cash-generating units, and impairment losses for non-financial assets
  8. Case study: Preparing accounting calculations and reporting adjustments for financial instruments, lease arrangements, asset impairment, and provisions

Day 4

Deferred Taxation, Foreign Currency and Advanced Financial Reporting Issues

  1. Applying current and deferred tax accounting principles to temporary differences, tax bases, and the recognition of deferred tax assets and liabilities
  2. Calculating deferred tax adjustments arising from depreciation differences, revaluations, provisions, and other accounting-versus-tax differences
  3. Accounting for foreign currency transactions, exchange differences, monetary balances, and foreign currency settlement effects
  4. Translating the financial statements of foreign operations and evaluating the presentation of foreign currency translation differences
  5. Coffee break
  6. Translating the financial statements of foreign operations and evaluating the presentation of foreign currency translation differences (continued)
  7. Assessing accounting requirements for provisions, contingent liabilities, contingent assets, and significant estimation uncertainty
  8. Practical exercise: Preparing deferred tax schedules, foreign currency adjustments, and financial reporting disclosures for a complex multinational business scenario

Day 5

Financial Statement Presentation, Disclosure and Reporting Quality

  1. Preparing and reviewing financial statements in accordance with applicable IFRS presentation requirements, including relevant changes introduced by IFRS 18
  2. Evaluating accounting policy disclosures, significant judgments, estimation uncertainty, and material information requirements
  3. Reviewing financial statement disclosures relating to financial instruments, leases, impairment, taxation, business combinations, and group reporting
  4. Applying analytical review techniques to identify unusual financial relationships, accounting inconsistencies, and potential reporting errors
  5. Coffee break
  6. Applying analytical review techniques to identify unusual financial relationships, accounting inconsistencies, and potential reporting errors (continued)
  7. Strengthening financial reporting controls through technical accounting reviews, reconciliation procedures, reporting checklists, and documentation standards
  8. Capstone exercise: Preparing and presenting an Advanced Financial Reporting Case Study involving complex accounting adjustments, consolidated financial information, technical accounting judgments, and financial statement disclosures

FAQ

Frequently asked questions

What does Advanced Financial Accounting (AF-023) cover?

This course covers Accounting and Finance through a structured five-day outline focused on practical application, discussion, and implementation planning.

When is the next available session?

The course schedule and fee are available on request. Contact Aractech for current availability and a quotation.

Who should attend this course?

This course is suitable for:, Senior accountants and chief accountants, Financial controllers and finance managers

Is bilingual course delivery available?

Yes. All course materials and presentations are provided in English, while bilingual explanation and discussion support may be available depending on the selected location and trainer availability. For example, when attending a course in Istanbul, you may request a Turkish-speaking trainer to explain the English course content in Turkish. Arabic explanation support may also be requested at this location. Other languages are available in selected cities. You can choose your preferred language support as an optional preference during registration.

How can I register for a session?

Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.

Is this course available online as well as classroom-based?

The schedule and fee, including any available delivery options, are available on request. Contact Aractech for details.

Where are classroom sessions delivered?

Classroom venues are confirmed in the schedule panel for each published session.

How long is the training programme?

The programme runs for five days, with up to five training hours per day, from 9:00 AM to 2:00 PM. Each programme includes a total of 25 training hours.