Accounting Is Fun. Financial Reporting from A to Z

July 20 – 28, 2026

Monday - Friday, 10.00 - 14.40

In-person

Language: English

The course provides a wide and complex view of financial reporting.

Course Description

Financial report is the only open source of the financial information of a company. Preparation, reading and analysis of financial reports are essential skills of any financial profession at any level as well as useful for everybody who wants to successfully manage own finances and train brains! During this course students get acquainted with the basic accounting, prepare financial statements, practice some advanced accounting cases from IFRS (International financial reporting) and apply its basic principles, read and analyze financial reports, understand organization of the audit of financial statements, execute some audit procedures and identify risky areas.

Why Choose This Course?

The course provides a wide and complex view of financial reporting, starting form the basics and developing the knowledge step by step with the common goal – using financial reports to get information about the financial condition of a company. Knowing how accounting statements are calculated and checked, their risky areas and most common mistakes gives a powerful tool for financial analysis and making financial decisions. It is practice based: includes trainings on accounting, project accounting of own business, real cases of large businesses, auditing and identification of risky financial areas of the projects. So the course develops a large theory basis as well as gives a range of the financial skills ready to apply in any business.

Content

Accounting basics: accounts, double entry system, Debit and Credit, accounting equation, trial balance;
Financial statements: Balance sheet, Income statements, Statement of changes in equity and Statement of cash flows;
IFRS cases: valuation, depreciation and impairment of property, construction and capitalization, leasing, provisions, investments in property, shares and bonds, trading, held for sale and collection, research and development, calculation of cost of sales (first in first out, average, production), net realizable value of inventory, interest free loans and imputed interest, percentage of completion and cost recovery sales, repurchase agreements;
Accounting principles: accrual principle, matching principle, going concern, substance over form, overstatement of assets and understatement of liabilities, relevancy, neutrality, comparability, timeliness, etc.
Reading financial reports: disclosures, related parties, financial risks, contingent liabilities, subsequent events;
Analysis of financial statements: structure of assets, liabilities, income and expenses, changes, profitability, net assets;
Audit basics: definition of assurance, organization of engagement, independency and objectivity, audit risk, materiality, audit conclusion;
Audit procedures: testing inventory, accounts receivable and payable, cash, revenue and costs.

Skills and Competence

Making accounting entries, calculate trial balance and prepare financial statements;

Reading financial statements;

Analyzing financial condition of a company based upon the financial report;

Identifying risky areas of financial statements;

Working in an international team, successfully conducting intercultural communications.

Teaching Methods

Lectures/ case studies/group or individual projects/ practical training

Prerequisites

No specific prerequisites are assumed for the class.

Final Assessment

Group / individual project work.

Final Grade Background

Attendance, involvement, task completion, active participation in discussions, completion of the final task.

Course is taught by

Yaskevich Elena, senior tutor, professional auditor (Big four company - B1 (ex. Ernst&Young), Internal audit Gazprom neft), ACCA associate.