Award in Financial Reporting

Table of Contents

The Award in Financial Reporting provides learners with the knowledge and skills to understand and apply the theoretical framework and accounting standards in the preparation, analysis and interpretation of financial statements.

This certification provides learners with a comprehensive understanding of financial reporting concepts, including how to follow international standards while accounting for transactions, prepare financial statements for both single entities and business combinations, and calculate relevant ratios related to profitability, liquidity, efficiency and financial position. Learners will learn how to:

  • Explain and critically analyse the objective of financial reporting
  • Critically discuss the objective and scope of financial statements and define the elements of the financial statements (assets, liabilities, equity, Income and expenses)
  • Understand and evaluate the recognition criteria for financial statements (such as assets and liabilities and income and expenses)
  • Apply in depth the main elements and requirements of the conceptual framework for financial reporting
  • Account for transactions which happen during the reporting period in accordance with international accounting standards
  • Analyse and interpret financial information as included in the financial statements
  • Describe various measurement bases and discuss the factors to be considered when selecting the measurement basis, and the advantages and disadvantages of each, namely historical cost and current value cost
  • Describe the concept of reporting entities, namely
  • Prepare single and consolidated financial statements in accordance with International accounting standards.


Awarding Body

This qualification is awarded by Central Mediterranean Business School (CMBS).

Accrediting Body

This qualification is accredited by the Malta Further and Higher Education Authority. MFHEA deems the Award in Financial Reportingto be at Level 5 in the Malta Qualifications Framework and the European Qualifications Framework for lifelong learning.

Entry Requirements

To be eligible for the programme, candidates must hold any one of the following requirements:

  • MQF Level 4 qualification in accountancy, finance or a relevant field
  • Matriculation certificate with passes in at least 2 A-levels and 3 Intermediates
  • Matsec certificate with 4 passes at Grade 5 or better in accounts, english, mathematics and any other subject
  • Relevant work experience in a relevant field

Non-native English speakers must also have an English qualification such as CEFR or IELTS 5.5.

Mode of Assessment

The Award in Financial Reporting will be assessed through an exam, an individual project and a reflective journal. 

Who is this course for?

This programme is intended for those who are aged 18+ and aspire to work or are already working in the finance field.




This programme will be delivered in English.


Key Info


2 Months





Full Price (EU Students)

Up to €697 refunded via the Get Qualified Scheme.

Have questions?

Email us at or call on +356 9912 1110 to learn more.

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