OVERVIEW

Best Practice Financial Management and Reporting training course will help our clients not only in meeting the challenges of introducing IFRS and IPSAS, but also to secure the benefits of improved financial management to help secure organizational objectives and goals of each public service organization. It will also compare IFRS against IPSAS so that the participants can see the main differences.

OBJECTIVES

  • Background to IFRS & IPSAS
  • The Technical Bases
  • Links and implications to and for broader strategies: Financial Management, Taxation, Asset Management, Governance and accountability
  • The Standards
  • Financial reporting
  • How to satisfy donor & stakeholder requirements
  • Implications for Internal and External Audit
  • Impact on financial processes and systems
  • Implementation
  • How to formulate a documented action plan
  • How to manage substantial financial resources
  • How to develop skills to aid implementation, capacity development, benefits realization and risk management plans
  • How to provide wider training and how to contribute to the strategic consequences of IFRS & IPSAS
  • How to implement
  • To define and apply the transition process to IFRS or IPSAS and identifying the first-time exemption
  • Exceptions relating to the financial statements of a transitioning organization

COURSE CONTENT

Day 1

  • Context of IFRS and IPSAS
  • The basic concepts of accounting and financial reporting disclosures and varying reconciling and non-reconciling differences between GAAP and IFRS & IPSAS
  • Financial statement presentation of IFRS & IPSAS

Day 2

  • Funding, revenue and expenditure of IFRS & IPSAS
  • Asset and liability reporting of IFRS & IPSAS

Day 3

  • Entity consolidation and combination IFRS & IPSAS
  • The scope, structure, contents and components of IFRS & IPSAS compliant financial statements, including underlying assumptions and related footnotes disclosures

Day 4

Outbound Activities Aimed At Improving:

  • Communication
  • Teamwork
  • Confidence
  • Motivation

Day 5

  • Measurement and recognition of the various elements of international accounting principles and standards, including transition concerns
  • Disclosure and other matter

WHO SHOULD ATTEND

  • Accountants and finance staff at all levels involved in the preparation of financial statements
  • IFRS and IPSAS implementation and maintenance teams
  • Internal auditors and consultants dealing with financial reporting
  • Financial executives
  • Financial analysts
  • Bankers
  • Investment bankers
  • Any other professionals involved in the preparation, presentation, implementation or analysis of financial statements prepared in accordance with IFRS

METHODOLOGY

  • Face To Face
  • Role playing
  • Post session assessment
  • Video presentation
  • Case study

PERIOD

5 working days

LANGUAGE

  • English
  • Tetun
  • Indonesia