This two-week programme combines:
International Accounting Standards – Strategy, Principles and the Core Standards 05 days
International Accounting Standards – Major Application Area Implications, Systems & Processes 05 days
International Accounting Standards are being or have been implemented widely across the world – IFRS primarily aimed at the private sector with IPSAS tailored to the public sector’s specific circumstances. Both sets of standards are largely based on the same principles. The standards are designed to improve financial reporting, financial management, transparency and accountability, with a common accrual-based approach enhancing 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 impacts on their organisations and plan the journey towards compliance.
In order to ensure the highest learning standards for delegates, Crown Agents delivers training courses using excerpts from the official IFRS Standards under licence from the IFRS Foundation.
Week one of the programme will examine the development of strategies for adopting and developing the application of the standards. We will then set out the principles underpinning the standards and explain the requirements set out in the “core” standards.
The second week will examine the major application areas including those specifically impacting delegates’ organisations. We will also examine the impacts on systems, reporting and decision making. Finally, we will examine the practical implementation and development of the application of the standards.
On completion, you will be able to:
- Understand the principles and application of the Standards in both the public and private sectors
- Explain financial reporting under the IFRS and IPSAS regimes including: the core statements; the style of annual reporting; the consequences for governments, organisations etc.
- Identify the changed approaches and ways of improving financial management under the Standards
- Use the financial management systems to improve financial monitoring and control in an accruals environment
- How core concepts such as accruals, capital and revenue spending depreciation and financial instruments should be reported on
- The requirements of specific sectors such as oil and gas, taxation and land (adapted to match delegates’ business areas)
- How actions will affect reported financial performance
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.