INTRODUCTION

The International Financial Reporting Standards and the International Accounting Standards (IAS) are being continually adopted by more markets, representing a real challenge to organizations and individuals who produce and use financial statements. Therefore, financial policies, processes and systems may need to be reviewed and often changed.  In order to meet this challenge this course aims at helping its partakers understand and implement IFRSs and IAS with confidence.

The course is based on a participatory, active learning approach, with an emphasis on critical reflection and peer-to-peer learning. The course instructor will provide individualised feedback where appropriate. Participants will do the required readings, prepare interim and final assignments and participate in-group discussions. 

Participants who successfully complete the course will receive Certificate of Participation.

OBJECTIVES

By the end of the course, the participant should be able to;

·      Critically evaluate the role of financial reporting

·      Understand and interpret financial statements

·      Identify assets and liabilities recognition criteria

·      Comprehend the basic concepts of accounting

·      Assess the principle of capital and capital maintenance

·      Understand the recognition, measurement bases, and disclosures of different IFRS and IAS standards

DURATION

 This course will approximately take 5 days

WHO SHOULD ATTEND?

The course eyes financial directors, financial managers, procurement directors, administrators, procurement managers, Budget accountants, auditors, credit controllers and chief accountants.

COURSE OUTLINE

TOPIC 1: Introduction

·      IFRS conceptual framework and associated bodies, IAS 1, IAS 8

TOPIC 2: Income standards

·      IAS 18 Revenue

·      IAS 11 Construction contracts

TOPIC 3: Asset Standards

·      IAS 2 – Inventories

·      IAS 16 – Property, Plant and Equipment

·      IAS 20 – Government Grants

·      IAS 23 – Borrowing Costs

·      IAS 17 Leases

·      IAS 38 – Intangible assets

·      IAS 40 – Investment Property

·      IAS 41 – Agriculture

·      IAS 36 – Asset Impairment

·      IFRS 6 – Exploration and evaluation

TOPIC 4: Liabilities Standards

·      IAS 37 Assets, Provisions & Contingent liabilities

·      IAS 19 Benefits to employees

·      IFRS 2 Share –based payment

·      IAS 12 Income taxes, IAS 32 Financial instruments

·      IAS 39, IFRS 7

·      IFRS 9 (Financial Instruments)

TOPIC 5: Other Standards

·      IAS 21 Effects of foreign exchange changes

·      IFRS 3 Business combination

·      IFRS 11 Joint arrangements

·      IFRS 12 Disclosures

·      IFRS 13 Fair Value Measurement

TOPIC 6: Disclosure Standards

·      IAS 33 Per share earning

·      IFRS 8 Operating segments

·      IFRS 5 Non-current assets held for discontinuation and sale

·      IAS 10 Reporting period after events

·      IAS 24 Party disclosure

·      IAS 34 Reporting by interim

·      IFRS 1 Adoption of IFRS for the first time

GENERAL NOTES

·      The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

·      The participants should be reasonably proficient in English as all facilitation and course materials will be offered in English.

·      Upon successful completion of this training, participants will be issued with a certificate.

·      The training will be held at Kincaid Training Centre. The course fee covers the course tuition, training materials, two break refreshments and lunch.

·      All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.

·      Accommodation and airport pickup are arranged upon request. For reservations contact the Training coordinator at Email: training@kincaiddevelopmentcenter.org or Tel: +254 724592901

·      This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our Kincaid Training Centre or at a convenient location.

For further inquiries, please contact us on Tel: +254 724592901 or send mail to training@kincaiddevelopmentcenter.org

Payments are due upon registration. Payment should be sent to our Bank account before commencement of training and proof of payment sent to training@kincaiddevelopmentcenter.org