Course description
IPSAS and IFRS standards were formulated to aid organizations in improving their financial reporting, management, transparency, and accountability using a standard accrual-based method that ensures financial accountability and corporate governance. However, this Financial
Management and Reporting on IPSAS and IFRS Standard course is concerned with exposing trainees to financial management and reporting within the context of the evolving conceptual frameworkof IFRS and IPSAS standards.
Upcoming start dates
Suitability - Who should attend?
Who Should Attend?
The Financial Management and Reporting on IPSAS and IFRS Standards Training Course is suitable for personnel in the financial management and reporting industry and those looking to switch to this area. The following personnel should undertake this course:
- Senior finance executives: involved in the monitoring of the preparation and implementation of financial statements prepared in compliance with IFRS and IPSAS standards
- Accountants and finance professionals:involved in the preparation of financial statements
- IFRS and IPSAS implementation and maintenance team:involved in financial management and reporting
- Professionalinvolved in the presentation, implementation, or analysis of financial statements following IFRS and IPSAS standards
- Bankers, internal auditors, and consultants, investment, financial analysts:responsible for financial reporting and management
- Investors, financial analysts, managers, and equity analysts:interested in improving their financial reporting and analysis skills
- Shareholders, lenders and creditors, and regulators:who use financial reports and are interested in improving their financial management and reporting skillset
- Compliance and legal officers:tasked with the responsibility of ensuring a company’s financial management and reporting activities are in strict compliance with regulatory requirements
- Professionals keen on pursuing a career in financial management and reporting
Outcome / Qualification etc.
The Financial Management and Reporting on IPSAS and IFRS Standards Training Course will provide participants with in-depth knowledge about financial management and reporting in compliance with IPSAS and IFRS standards. They include the following:
- Understand key principles and the application of the IPSAS and IFRS standards in both the public and private sectors
- Understand the rudiments of financial reporting under the IFRS and IPSAS regimes, such as the core statements, the yearly reporting style, and the consequences of the failure to comply with the standards set by government and organizations
- Understand the methods of using IPSASand IFRS in improving financial management and reporting
- Understand the contextual framework and principles of financial reporting for public sector entities and discuss the principle of accountability concerning public sector financial reports
- Evaluate the adoption of IPSAS and IFRS in companies and organizations
- Analyze the disclosure of specific assets and liabilities about IPSAS and IFRS
- Recognize the method of using financial accounting principles to prepare a business’ financial statement
- Learn the rudiments of applying the requirements of IPSAS and IFRS to identify the applicable treatment of events and transactions in financial statements
Training Course Content
Module 1: Overview of Financial Management
- Meaning
- Functions
- Importance
- Types – Capital budgeting – Capital structure
Module 2: Scope of Financial Management
- Planning
- Budgeting
- Managing and assessing risk
- Procedures
Module 3: Overview of Financial Reporting
- Meaning
- The objective of financial reporting – Useful information – Cash flows – Liabilities
- Benefits
- Methods of financial reporting – Cash accounting – Accrual accounting
- Analysis, interpretation, and representation of financial reports
Module 4: Types of Financial Reporting
- Income statement
- Balance Sheet
- Cash Flow Statement
- Statements of shareholders’ equity
Module 5: Financial Reporting in the Private and Public Sectors
- Financial reporting for the private sector
- Financial reporting for the public sector
- The rationale for financial reporting standards
Module 6: Financial Reporting Specifics
- Financial reporting for inventory
- Financial reporting for non-current liabilities
- Financial reporting for PP&E, leases
Module 7: IPSAS
- Meaning
- Structure
- Components
- Benefits
- Implementation
- Budgeting with IPSAS
- Financial statement presentation of IPSAS
- Asset and liability reporting
Module 8: Budgeting and Performance Reporting
- Budgeting in the public sector
- Budgets and Outturn reporting (IPSAS 24)
- Performance budgeting and reporting
- Program budgeting
- Public accountability
Module 9: Accounting Principles and Bases
- Cash versus Accruals based accounting
- Cash-basis IPSAS
- Accruals-Based Accounting and IPSAS
- Application in the private and public sector
Module 10: Accounting for Public Assets Under IPSAS
- Current assets
- Heritage assets
- Non-Current assets
- Intangible assets
- Leased assets
Module 11: IFRS Standards
- Meaning
- Principles
- Purpose
- Standard IFRS Requirements: – Statement Of Financial Position – Statement Of Comprehensive Income – Statement Of Changes In Equity – Statement Of Cash Flows
- A financial statement under IFRS – Balance sheet – Profit & Loss account – Cash flow statement
- Asset and liability reporting
Module 12: Financial Statements
- Meaning
- Purpose
- Elements of financial statements – IAS 1 – Balance Sheet – Income Statement
- Responsibility for financial statement
- Limitations of financial statement
Module 13: IFRS Financial Statements
- Scope
- Structure
- Content
Module 14: Financial Analysis Tools and Techniques
- Trend analysis
- Common size statements
- Dupont analysis
- Ratio analysis
- Cash flow ratios
- Investment Ratios
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