Practical Financial Reporting Specialist (PFRS) Course

Are you struggling to bridge the gap between day-to-day accounting and year-end financial reporting? Do audit seasons leave you overwhelmed with adjustments, provisions, and compliance requirements? At Alifbyte Educational Institute, we understand this challenge deeply. That's why we've designed our comprehensive Practical Financial Reporting Specialist (PFRS) course—to transform your anxiety into confidence, your uncertainty into expertise. This isn't just another accounting course; it's your pathway to becoming the financial professional your organization depends on during critical reporting periods.

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Course Levels:

Basic
Intermediate
Advanced

COURSE BENEFITS

Why Choose Practical Financial Reporting Specialist?

Master hands-on financial finalization processes through real scenarios and actual schedules that mirror workplace challenges, ensuring you're job-ready from day one.

Transform year-end anxiety into professional confidence by learning systematic approaches to depreciation schedules, employee provisions, and audit-ready financial statements.

Bridge the gap between theoretical knowledge and practical execution by learning exactly how IFRS and GAAP principles translate into journal entries, schedules, and regulatory disclosures.

Master every step from adjusted trial balance to final Statement of Changes in Equity with proven processes that eliminate uncertainty and ensure accuracy.

Learn to prepare thorough working papers, reconciliations, and supporting schedules that transform audit season from confrontational to collaborative.

Course Details

Curriculum

01. Introduction to Financial Finalization and Compliance

Understanding the full accounting & finalization cycle with statutory frameworks (GAAP/IFRS, Company Law, Tax Laws).
Practical ledger scrutiny, vouching, and reconciliations (BRS, suspense accounts).
Coordination between auditors and accountants for audit-ready books.

02. Year-End Adjustment and Closing Transactions

Passing all adjustment entries: accruals, prepayments, provisions, and inventory valuation.
Fixed asset management: depreciation methods, additions/disposals, impairment, and schedule preparation.
Final closing tasks: transfer entries, adjusted trial balance, and closing net profit/loss.

03. Employee Benefit Accounting (Provisions)

Calculating & recording provisions for leave encashment and gratuity (legal compliance + accounting standards).
Year-end employee-related adjustments such as unpaid salaries and bonuses.
Journal entries for employee benefit liabilities.

04. Preparing Audited Financial Statements & Schedules

Preparation of core statements: P&L, Balance Sheet, Cash Flow, and Changes in Equity.
Formatting financial statements as per IFRS/Schedule III requirements.
Compiling supporting schedules for audit purposes.

05. Audit Readiness & Reporting

Preparing audit working papers and essential documentation (depreciation, provisions, reconciliations).
Handling auditor queries with proper justification and support.
Conducting financial analysis & ratio review using Excel for final checks.