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Level 7 Diploma in Accounting and Finance

Preparation of Primary Financial Statements

AF702 · Corporate Reporting — Week 5 of 16

CourseAF702
Week5 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Preparation of Primary Financial Statements

  1. Statement of profit or loss and other comprehensive income
  2. Statement of financial position adjustments
  3. Statement of cash flows under direct and indirect methods
  4. Non-current asset depreciation and impairment testing

What you will be able to do

  • 3.1 Prepare accounting information.
  • 4.1 Explain specific policies, practices and regulations within corporate accounting.

Activity

Seminar, guided reading and a short written task: prepare accounting information.

Study materials

Videos

  • Subtotals and categories in the statement of profit or loss · YouTube · IFRS Foundation · 62 min · for registered students
  • Grouping of information in the financial statements · YouTube · IFRS Foundation · 65 min · for registered students
  • Debrief: Primary Financial Statements · YouTube · IFRS Foundation · 5 min · for registered students
  • IFRS 18 Taxonomy: Webcast 1—Statement of profit or loss changes · YouTube · IFRS Foundation · 10 min · for registered students

Further resources

  • Intermediate Financial Accounting Vol. 1, Lyryx 2021-A, ch. 3: Financial Reports: Statement of Income, Comprehensive Income and Changes in Equity · PDF · Other, textbook chapter; pp. 37–74 · for registered students
  • Intermediate Financial Accounting Vol. 2, Lyryx 2021-A, ch. 20: Statement of Cash Flows · PDF · Other, textbook chapter; pp. 311–380 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
Week 4Week 6
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Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

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Course plan
  • Week 1: Regulatory Frameworks in Corporate Reporting
  • Week 2: Abuse, Creative Accounting, and Ethical Failures
  • Week 3: Conceptual and Theoretical Underpinnings of Accounting
  • Week 4: Corporate Accounting Policies and Application
  • Week 5: Preparation of Primary Financial Statements
  • Week 6: Group Financial Reporting and Consolidation
  • Week 7: Financial Performance Interpretation and Ratio Analysis
  • Midterm: Midterm evaluation
  • Week 9: Critical Assessment of Published Corporate Reports
  • Week 10: Sector-Specific Accounting Frameworks
  • Week 11: Critical Evaluation of Specialized Industry Accounting
  • Week 12: Applying Corporate Reporting in practice: case studies
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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