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Courses/Accounting & Tax/NASBA - Accounting

IAS 1 - Statement of Cash Flows and Financial Statements

This course explains the general underpinnings of IAS 1 “Presentation of Financial Statements”, The Statement of Cash Flows and notes to the FS.

Created byJerry Mutimukulu
BeginnerUpdated Jul 24, 2023
IAS 1 - Statement of Cash Flows and Financial Statements

What You'll Learn

check_circleExplore the purpose and objectives of IAS 1 “Presentation of Financial Statements”.
check_circleRecognize the need for cash flow information and Statements of Cash Flows.
check_circleDiscover and prepare a statement of cash flows for a single entity using both the direct and indirect methods in accordance with IAS 7.
check_circleInterpret a cash flow statement.
check_circleIdentify and compare the usefulness of cash flow information with that of a statement of profit or loss and other comprehensive income.
check_circleDiscover and describe the content and structure of Notes to the financial statements.

About This Course

In this course, we discuss the general underpinnings of International Accounting Standard 1 Presentation of Financial Statements with an inclination towards the statement of financial position, statement of profit or loss and other comprehensive income, and statement of changes in equities.

Gain crucial skills in preparing and interpreting the Statement of Cash Flows, exploring both the direct and indirect methods for the operating activities section based on the guidance of IAS 7. Understand the significance of cash flow information in assessing an entity's ability to generate and utilise cash, its liquidity, viability, and overall financial health.

Furthermore, the course provides comprehensive coverage of the essential role, content, and structure of Notes to the Financial Statements, including key accounting policy disclosures, enhancing your ability to present and understand transparent financial reports.

By the end of this course, you will be able to:

  • Explore the purpose and objectives of IAS 1 regarding financial statement presentation.
  • Recognize the vital need for detailed cash flow information.
  • Prepare a Statement of Cash Flows for a single entity using both the direct and indirect methods.
  • Interpret cash flow statements to assess financial performance and position.
  • Compare the insights provided by cash flow information versus the statement of profit or loss.
  • Describe the required content and systematic structure of Notes to the Financial Statements.

Equip yourself with the expertise needed to navigate complex financial reporting requirements and provide users with clear, comparable, and insightful financial information.

Your Instructor

Jerry Mutimukulu
Jerry Mutimukulu

The ACCA Tutor

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I am an ACCA qualified professional accountant and MBA and MCom degree holder with extensive industrial and teaching experience in the field of accounting and finance. I am a visionary with an unmitigated passion to see others succeed in life.

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