International Accounting Standards are a global response to a set of global problems, with IFRS primarily aimed at the private sector and IPSAS tailored to the specific circumstances of the public sector.
In the modern world, it is essential that financial information can be assessed consistently. These standards are designed to assist organisations to improve their financial reporting, financial management, transparency and accountability, introducing a common accrual-based approach that should enhance financial accountability and corporate governance.
In this programme, delegates will learn how to achieve improvements in financial management and reporting while moving to full compliance with the Standards. The course explores the Standards’ requirements and how they can be complied with. It assists delegates to analyse the impacts on their organisations and to plan the journey towards compliance, using case studies to illustrate the practical application of the Standards.
On completion, you will be able to:
- Key principles and the application of the Standards in both the public and private sectors
- Financial reporting under the IFRS and IPSAS regimes including: the core statements; the style of annual reporting; the consequences for governments, organisations etc.
- Changed approaches and improving financial management under the Standards
- Using the systems to improve financial monitoring and control in an accruals environment
- Systems requirements for successful implementation
- How core concepts such as accruals, capital and revenue spending depreciation and financial instruments should be reported on
- The requirements of specific areas such as oil and gas, taxation and land (adapted to match delegates’ business areas)
- How actions will affect reported financial performance and how financial management should be amended to deal with these
All courses will be conducted entirely in English. A proficient level of both spoken and written English is required by all delegates so that they are able to fully benefit from the course and participate in our interactive style of training.