About ASPM
The Africa School of Project Management (ASPM) was established in the year 2000 in Kenya as a membership based professional management organisation. The school was formed to address capacity building needs among development partners, donor organizations, Government agencies, International and private sector firms in Africa.
The school has been pivotal in capacity building in South Sudan, South Africa, Botswana, Eritrea, Ethiopia, Kenya, Uganda, Congo, Somalia, Liberia, The Gambia, Tanzania, Burundi and Rwanda. The school has trained over 12,000 staffs who are involved in different projects and also conducted surveys, evaluations and research in different projects and businesses in Africa.
Course Overview
This course takes delegates through financial reporting. The delegates will be familiar with the financial reporting issues in the international context. International Financial Reporting Standards (IFRS) is a set of international accounting standards that states how certain transactions and events should be reported in financial statements. It is based upon principles rather than hard set rules, which is in contrast to U.S. GAAP, a rules-based accounting standard. As a result of this fundamental difference, IFRS allows management to use greater discretion and flexibility when preparing organizations financials.
It is believed that IFRS, when adopted worldwide, will benefit governments and other users of financial statements by reducing the cost of investments and increasing the quality of the information provided. Additionally, governments will be more willing to provide financing with greater transparency among different firms’ financial statements. IFRS offers major benefit; it is used in over 120 different countries, while U.S. GAAP is used only in one country.
Course Outcomes
- Internalize accounting standards and explain their impact on their organizations.
- Implement the most recent updates of the International Financial Reporting Standards (IFRS) in their
- Organizations.
- Properly account for transactions affecting assets, liabilities and owners’ equity according to IFRS.
- Prepare financial statements with related notes and disclosures in compliance with IFRS.
- Interpret the different accounts on the financial statements and reports.
Who should attend?
• Management Accountants
• Professionals in the field of finance and Accounting
• Professionals wishing to enhance International accounting knowledge
• Companies implementing IFRS as the Standard of reporting
• Chief Finance Officers
• Finance Director
• Finance Managers
• Finance Officers
• Financial Controllers
• Strategic Planning/Development Managers
• Financial Analysts
• Departmental Business Analysts
What will be covered?
- Introduction to IFRS
- IFRS standard setting process
- Financial reporting framework
- Future agenda for IFRS
IFRS current year updates
Statement of financial position
Presentation of financial statements
Elements of statement financial position
Class of Assets and Liabilities
Class of shareholders’ Equity
Required disclosures
Statement of comprehensive Income
Concept of comprehensive Income
Recognition and measurements
Items on the Income statement
Class of revenue and expenditure
Statement of changes in Equity and statement of cash flows
Equity disclosure
Reporting non-controlling interest
Operating, investing and financing cash flows
Direct and indirect method
Accounting for Assets.
Cash and cash equivalent
Measuring and valuing Investment (IAS2)
Property, plant and equipment (IAS 16)
Accounting for Investment Property (IAS 40)
Intangible Assets (IAS 38)
Current liabilities and accruals
Accounting for contingencies
Long-term liabilities
Accounting for debt and equity transactions
Capital, retained earnings and Reserves.
Revenue recognition.
Scope of (IAS 18)
Revenue recognition criteria
Measurement of revenue
Fee information:
The tuition fee is US D 1,190 Exclusive VAT. This caters for; • Six hours training every day • Training materials on soft / hard copy or both • Certificate • Meals-Tea at 10Am, Lunch, Tea at 4pm • One Tour or visit to our National parks/Zoo • Airport transfer
How to Register.
Kindly drop us mail at [email protected] or apply through the online form
http://www.aspm.co.ke/index.php/online-application.