Financial Reporting Professional

FRP (Financial Reporting Professional)

Key Accountancy Concepts

1. Accrual and Cash basis accounting
2. Matching concept
3. Materiality concept
4. Going concern
5. Prudence concept
6. Substance over form concept
7. Consistency and comparability concept
8. Nature of accounting heads debit and credit

Use of Financial Ratios

Use of numerical values taken from financial statements to gain meaningful information about a company such as:

1. Liquidity ratios
2. Leverage ratios
3. Efficiency ratios
4. Profitability ratios
5. Market value ratios

Book Keeping

Professional bookkeeping of entities using most used software in market

1. QuickBooks
2. Bookkeeping using Microsoft excel

Professional Level Use of Microsoft Excel

1. Use of various formulas in excel
2. Shortcut keys
3. Use of Lookup and Pivot table
4. Managing and maintenance of data using excel
5. Daily assignments of course will be required to be prepared on excel.

Financial Statement Preparation

1. Enabling students to prepare professional level financial statements
2. Knowledge of financial statement disclosure requirements of various business sectors such as banking, insurance and manufacturing concerns.

Legal Requirements by SECP & FBR For Preparation and Presentation of

Financial Statements

1. Knowledge of legal requirements for Preparation and presentation of financial statements
2. Time, method and requirement of filing of financial statements with SECP & FBR

Financial Reporting Professional (FRP)

• International Accounting Standards (IFRS & IAS)
• Accounting & Bookkeeping (Xero, Quick books, MS Excel)
• Financial Statements Preparation
•  Ratio Analysis
• Business Feasibility Report

IFRS & IAS (Applicable Financial reporting framework)

International Accounting Standards

• Presentation of Financial Statements [IAS 1]
• Inventories [IAS 2]
• Statement of Cash Flows [IAS 2]
• Accounting Policies, Changes in Accounting Estimates and Errors [IAS 8]
• Events after the Reporting [IAS 10]
• Period
• Income Taxes [IAS 12]
• Property, Plant and Equipment [IAS 16]
• Employee Benefits [IAS 19]
• Accounting for Government Grants and Disclosure of Government Assistance [IAS 20]
• Borrowing Costs [IAS 23]
• Related Party Disclosure [IAS 24]
• Separate Financial Statements [IAS 27]
• Financial Instruments: Presentation [IAS 32]
• Earnings per Share [IAS 33]
• Impairment of Assets [IAS 36]
• Provisions, Contingent Liabilities and Contingent Assets [IAS 37]
• Intangible Assets [IAS 38]
• Financial Instruments: Recognition and Measurement [IAS 39]
• Investment Property [IAS 40]
• Agriculture [IAS 41]

International Financial Reporting Standard

• First-time Adoption of International Financial Reporting Standards [IFRS 1]
• Share-based Payment [IFRS 2]
• Insurance Contracts [IFRS 4]
• Non-current Assets Held for Sale and Discontinued Operations [IFRS 5]
• Financial Instruments: Disclosures [IFRS 7]
• Operating Segments [IFRS 8]
• Financial Instruments [IFRS 9]
• Disclosure of Interests in Other Entities [IFRS 12]
• Fair Value Measurement [IFRS 13]
• Revenue from Contracts with Customers [IFRS 15]
• Leases [IFRS 16]
• Insurance Contracts [IFRS 17]

Quick Books

• Techniques for Manual Accounting and Computerized Accounting.
• Basics to Accounting Software.
• Complete QuickBooks expertise.
• Decide the category of your industry and the type of your organization.
• Customize your business according to your company requirements.
• Create an effective company profile.
• Learn the difference between single and double-entry bookkeeping.
• Manage fiscal year data.
• Set tax percentages.
• Set product tax deductions.
• Perform forecasts and estimates.
• Make use of finance tracking.
• Manage financing timelines.
• Learn about setting up different accounts i.e., Revenue, Income, Expense.
• Setup the Chart of Accounts.
• Manage and input data in accounts.
• Manage customer information.
• Fill customer orders and carry out customer tasks.
• Manage sales and read receipts.
• Set up vendor and customer information.
• Delete and close customer/vendor tasks.
• Record and manage purchases.
• Learn the different journal entries and how they are used.
• Understand debit and credit concepts.
• Company data security and restoration.
• Learn to work with banks associated with your business.
• Practical application from real company data.
• Analyze financial data and advanced reports.

Bookkeeping in Detail (For Freelancing & Local Market)

• Bookkeeping techniques

MS Excel Advance

• MS-EXCEL spreadsheet usage
• Using the toolbar and different tabs
• Complete formatting and editing mastery
• Using Excel for business segments and business purposes
• How to apply excel function in business reporting and analysis context
• Learn how to apply arithmetic formulas and calculations
• Learn about cell referencing and applying conditional formulas
• Learn about creating new rules and conditions
• Learn how to create tables and use filters
• Learn how to format tables and link data
• Learn how to review and remove conflicting or duplicated data
• Learn various shortcuts from basic functions such as cut, copy, paste, paste special to
• advanced shortcuts such as data manipulation
• Formatting cells for currencies, dates, text functions
• Learn how to draw and edit charts and graphs
• Learn how to edit and infer from pie charts, bar graphs, histograms etc.
• Learn how to create pivot tables and manipulate shown data
• Learning about Slicers, Timelines, Report Connections, Group Selection, Calculated Fields
• Learn about using Look Up and Reference Functions
• Learn how to conduct Forecasts and apply "What-If Analysis"
• Learn about Goal Seek
• Learn how to use scenario manager functions
• Learn about using forecasting functions
• Learn the concepts for relative and absolute Macros
• Learn about using the developer options such as Form Controls and ActiveX Controls
• Learn about writing basic commands
• Learn how to manage large data series
• Practical Application with Examples