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Beacon FinTrain

Provides an array of professional business and financial training services that stem from improving a corporate's treasury workflow —all the way to efficient, finance training programs.

Course Overview

This workshop will take the participants through a learning journey where they will be exposed to the modern accounting principles and have the knowledge of the challenges of construction entities in light of modern accounting standards.
Participants will gain a depth knowledge of the conceptual framework, financial statement, Cash & Accounts Receivable, and inventory, etc…

Learning Outcome

Recognize the conceptual framework, financial statements, and the ability to inventory lists

Understand the components of fixed assets, investments, and Stockholders' equity

Be familiar with the requirements of new Egyptian Accounting no.48 " Revenue from contracts with customers" and its effect on construction sector

Understanding the requirements of New Egyptian Accounting Standards No.49 " Leases" and its effect on construction sector

Understand the estimated cost of long-term contracts

Recognize the accounting treatments of onerous contracts

Course Outline

  • The need for and development of conceptual framework
  • Development of conceptual framework
  • Assumptions, Principles and Financial Statements Limitations
  • Principles
  • Limitations of financial reporting

  • Statements of financial position
  • Income statement
  • Statement of Cash flows

  • Cash & Cash Equivalents
  • Receivables

  • Ownership of goods.
  • Cost (acquisition cost)
  • Cost flow assumption
  • Inventory year end physical count
  • Inventory Valuation
  • Inventory Estimation
  • Loss on Purchase Commitments

  • Fixed Assets
  • Intangible Assets

  • The equity method of accounting for investments in common stock
  • The cost method of accounting for investments in common stock
  • Stock Dividends and Splits

  • Examples of current liabilities
  • Loss contingences
  • Estimated liabilities

  • Type of bonds
  • Bonds sinking fund
  • Bond issuance Costs

  • Common Stock
  • Preferred stock
  • Stock Subscriptions Treasury Stock transactions
  • Retirement of Stock
  • Dividends
  • Stock Split
  • Appropriation of retained earnings
  • Basic Earnings per share
  • Diluted Earnings per Share (DEPS)

  • Recognition and measurement

  • Understanding the Purpose and Scope
  • Overview of Key Objectives
  • Defining Core Principles
  • Alignment with Regulatory Requirements
  • Consistency and Transparency in Reporting
  • Relevance and Reliability of Financial Information
  • Materiality and Prudence in Accounting
  • Enhancing Comparability and Understandability
  • Fair Presentation of Financial Statements
  • Application of Accounting Standards and Interpretations
  • Compliance with Ethical Standards
  • Consideration of Stakeholder Needs
  • Continuous Improvement and Adaptation
  • Case Studies and Practical Applications
  • Implementation Challenges and Solutions
  • Future Developments and Revisions

  • Defining the Scope of Modern Accounting Standards
  • Overview of Applicable Accounting Standards for Construction Entities
  • Identification of Key Challenges Faced by Construction Entities
  • Understanding the Impact of Modern Accounting Standards
  • Addressing Revenue Recognition Challenges
  • Managing Contract Costs and Overruns
  • Reporting Requirements for Long-Term Contracts
  • Compliance with Lease Accounting Standards
  • Implications of Fair Value Measurement for Construction Assets
  • Considerations for Financial Statement Presentation
  • Application of Consolidation Standards for Joint Ventures
  • Disclosure Requirements for Construction Entities
  • Integration of Technology in Financial Reporting Processes
  • Case Studies and Practical Examples
  • Strategies for Addressing Accounting Challenges in Construction
  • Continuous Monitoring and Adaptation to Regulatory Changes
  • Collaboration with Industry Stakeholders for Best Practices Sharing and Guidance.

  • Step one: Identify the contract with customer.
  • Step Two: Identify the performance obligation in the contract.
  • Step Three: Determine the transaction price.
  • Step Four: Allocate the transaction price to performance obligation.
  • Step Five: Satisfaction of performance obligation

  • Warranties.
  • Onerous Contracts.
  • Contract Costs.
  • Presentation and Disclosures.

  • Core concepts and principles of the standards.
  • What is the lease.
  • Key concepts of lease.
  • Lessee accounting.

  • Lessor accounting.
  • Subleases.
  • Sales and Leaseback transactions.
  • Presentation and Disclosures.

Who Should Attend

Cost Controllers=Chief accountants=Head section Seniors

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