The preparation of accurate and professional financial reports is crucial to the financial health and success of any business. A financial report is also essential to setting long and short-term goals, applying for a business loan and making informed business decisions.
Prepare Financial Reports is online professional development program will provide you with the skills and knowledge required to record general journal adjustment entries and prepare end-of-period financial reports such as revenue statements and balance sheets for a non-reporting entity.
On completion of this course, you will feel confident in preparing professional and accurate financial reports for a business.
Unit- Report on financial activity
1. Compile and analyse financial data
1.1 Prepare a register of assets from fixed asset transactions according to accounting, legislative and organisational requirements
1.2 Calculate depreciation according to legislative and organisational requirements
1.3 Make, record and disclose asset and liability valuations in compliance with accounting standards
1.4 Refer discrepancies, unusual features or queries to appropriate authority where they cannot be resolved
1.5 Identify and record effects of taxation
2. Report general journal entries for balance day adjustments
2.1 Record all general ledger accounts and prepare a trial balance
2.2 Adjust expense accounts and revenue accounts for prepayments and accruals
2.3 Make adjustments in general ledger system to close any discrepancies for balance day adjustments according to organisational policies, procedures and accounting requirements
2.4 Review data for errors and compliance with statutory requirements and organisational procedures, and amend as required
3. Prepare end of period financial reports
3.1 Prepare revenue statement for reporting periods according to organisational requirements
3.2 Prepare a balance sheet to reflect financial position of business at end of reporting period
3.3 Prepare and post revenue and expense account to final general ledger accounts to reflect gross and net profits for reporting period
3.4 Correct or refer errors for resolution according to statutory and ethical requirements and organisational procedures
Estimated duration 15 hours
Course Delivery and Start
Start anytime, self-paced and 100% online
Assessment will be comprised of written exercises, including short-answer questions, reflective tasks, short reports and/or projects. There are no examinations or due dates for assessment. As a result, you can complete training in your own time and at your own pace with the assistance of unlimited tutor support.
Using the online assessment tool makes the learning process easy and the flexibility of online learning is the only way I am able to do these courses. The Learner Guide was well written and assisted in answering the questions
T. Lucas, Kingaroy, QLD | Prepare Financial Reports
Good course to study with great content
C. Brant, Bendigo, VIC | Prepare Financial Reports
Why Choose Australian Online Courses?
Professional development that is widely recognised and respected;
Improve your employment opportunities;
Study online, anywhere via our elearning system;
High-quality professional development programs written by industry experts;
All course materials provided online – no textbooks to buy;
Unlimited tutor support via email;
We offer twelve (12) months’ access, with extensions available upon application (fees apply);
Course may be tax deductible; see your tax advisor.
Are there any entry requirements or pre-requisites?
There are no entry requirements or pre-requisites for entry into this program.
How long will it take to complete this course?
The approximate study hours for this course is 15 hours. Twelve (12) months’ access, with extensions available upon application (fees apply).
Can I purchase optional printed materials?
Yes! The cost for printed materials for this course is $50 per unit.Total cost for optional printed materials is: $50.00. Printed materials are available for purchase at any time and not require to complete this course. Everything you need to complete the course is provided online via our e-learning system.
When can I start this course?
You can start within 60 minutes during business hours when you enrol and pay in full with a credit card!
Credit card: Within 60 mins during business hours.
BPAY: Within 1-2 working days.
Internet Banking: Within 1-2 working days.
Cheque/Money Order: Upon receipt of mailed cheque.
Will I receive a certificate upon completion of this course?
Yes! You will receive a Certificate of Attainment upon successful completion of your assessment.
Do I need to attend classes or undertake any work placements?
No. All courses are delivered online via our e-learning system and there are no work placement requirements in this course.
What support can I expect from Australian Online Courses?
Unlimited tutor support is available throughout your studies via email during business hours Monday to Friday. Our Administrative team are available Monday to Friday via email, live chat and telephone.
I am an international student. Can I enrol into this course?
Yes! We accept enrolments from individuals both within Australia and internationally; location is no barrier to entry into our programs.