November 13 @ 8:00 am – November 14 @ 2:00 pm
THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
Financial Reporting Workshop – Central Rift Branch
Date: 13th – 14th November, 2018
Venue: Merica Hotel, Nakuru
The main purpose of financial reporting is to provide information useful in decision making to different users in the market. With the ever changing business environment, user expectations are increasingly getting dynamic, and so is the quality of information expected from financial statements prepared by the accounting entities. In response to this, the accounting and reporting standards are being revised and updated often to incorporate a more realistic background against which modern financial reporting will be based.
To continuously improve the quality of information disclosed in the financial statements, it is critical that accountants understand the key provisions and application of various standards relevant to their organizations and industry. Some of these standards are those relating to contracts with customers, accounting for leases as well as current and deferred tax. Contextualizing the provisions of these standards to suit different reporting environments will contribute positively to the credibility of disclosures made in the financial statements prepared by the accounting entity for its different users.
Further, there is a growing focus on the role of integrated reporting as a vehicle for increased stakeholder confidence in financial reporting. Deferred tax disclosures help an entity adopt a more forward looking reporting environment that appeals to potential investors and lenders.
To this end, ICPAK has organized a two-day workshop themed ‘Continuous Improvement in Financial Reporting’ to provide more insights on financial reporting standards as well as guide on disclosures and compliance.
The specific training objectives will be as follows;
- Obtain understanding of the application and use of IFRS as a reporting framework.
- Understand the disclosure requirements for disclosure of revenue from contracts with customers.
- Appreciate the requirements of the new standard for accounting for leases.
- Increase understanding of related party transactions and transfer pricing.
- Obtain a deeper understanding of deferred tax and the related computations.
- Understand the motivation behind and components of integrated reporting and how these will impact business performance.
- IFRS 15 (Revenue from customer contracts)
- IFRS 16 (Accounting for Leases)
- IAS 24 (Related party disclosures and transfer pricing)
- IAS 12 (Deferred tax and related amendments)
- IAS 19 (Employee benefits)
- Integrated Reporting
Accountants, Auditors, Associate members, practicing members, Academia, Financial Reporting Consultants
Kindly note that booking is available either online at www.icpak.com/events or on the ICPAK Live – A smart phone based application that is available from Google store. Delegates are advised to book early for planning purposes.
Charges for this forum are as provided below:
Continuous Professional Development (CPD) Units
Members of ICPAK will earn 14 CPD points upon successful attendance. Enquiries may be directed to us via email through firstname.lastname@example.org.