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DTSTART;TZID=Europe/Moscow:20251106T090000
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SUMMARY:IFRS and Accrual Accounting Workshop  (South Rift Branch)
DESCRIPTION:THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA\n(Established under the Accountant Act\, Laws of Kenya) \nIFRS and Accrual Accounting Workshop (South Rift Branch)\nDate: 6th -7th November 2025\nTime: 09.00am -3.30pm\nVenue: Enkipai Hill\, Narok\nTheme: Advancing Financial Transparency and Accountability Through IFRS and Accrual-Based Reporting \nOverview \nInternational Financial Reporting Standards (IFRS)\, established by the International Accounting Standards Board (IASB)\, form the cornerstone of globally accepted accounting practices that prioritize transparency\, comparability\, and reliability in financial reporting. IFRS facilitates consistent reporting across diverse countries and industries\, this consistency is crucial in a global economy where businesses operate across borders and investors depend on uniform information to make well-informed decisions. At the core of IFRS is accrual accounting\, a principle that requires financial transactions to be recorded when they occur rather than when cash is exchanged. This enables organizations to reflect revenues and expenses in the periods they are earned or incurred\, resulting in a more accurate and comprehensive view of financial health and performance. Core standards such as IAS 1\, IFRS 15\, and IFRS 9 offer detailed frameworks for financial statement presentation\, revenue recognition\, and financial instrument management\, respectively. \nThe adoption of accrual accounting\, grounded in IFRS principles\, is increasingly recognized as a strategic priority for both public and private sector entities worldwide. This accounting approach promotes financial transparency\, enhances accountability\, and supports better decision making by providing stakeholders with timely\, relevant\, and meaningful financial information. While historically more prevalent in the private sector\, public sector institutions are also moving toward accrual-based reporting\, aligning themselves with international frameworks like IFRS and the International Public Sector Accounting Standards (IPSAS). This shift acknowledges the growing need for more robust financial reporting mechanisms capable of capturing the full scope of an organization’s financial activities. \nTraditionally\, many public entities have relied on cash-based accounting\, a method that records transactions only when cash is received or paid. However\, this system has significant limitations\, it fails to account for long-term obligations\, asset depreciation\, and other non-cash financial elements that are vital for understanding an entity’s complete financial position. In contrast\, IFRS-based accrual accounting provides a more holistic and accurate representation by recognizing financial events as they occur\, regardless of cash flow. This transition to accrual methods not only improves the quality of financial reporting but also builds a stronger foundation for fiscal sustainability and strategic planning. \nThe growing global momentum toward IFRS and accrual accounting is driven by several factors: the inadequacies of cash-based systems\, the increasing availability and adoption of international standards\, the integration of professional accounting practices into public financial management\, and advancements in financial technology that facilitate complex reporting requirements. IFRS standards such as IAS 1\, IFRS 15\, and IFRS 16 (Leases) offer comprehensive guidance on the recognition\, measurement\, and disclosure of financial information\, thereby enhancing its credibility and global comparability. This workshop aims to prepare financial professionals to effectively implement these standards\, offering hands-on knowledge of accrual-based reporting\, deepening understanding of key IFRS requirements\, and examining their broader implications for organizational financial practices. \nThe following topics will be covered during the workshop: \n\nOverview of IPSAS- First Time Adoption of Accrual Basis \nIPSAS Accrual Templates \nIFRS 15: Revenue from Contracts with Customers\n\n\nOverview of IFRS 15\nThe five-step revenue recognition model\nRevenue Recognition Principles\nTiming and measurement of revenue under accrual accounting\n\n\nRecognition and Measurement of Assets and Liabilities\n\n\nPrinciples for recognizing non-cash items such as receivables\, payables and provisions\nDepreciation\, amortization\, and impairment\nMeasurement methods: historical cost vs. fair value\nApplication of IFRS standards (e.g.\, IAS 37\, IAS 16)\n\n\nIFRS 16-Lease Accounting\n\n\nObjective of IFRS 16\nScope\nIdentifying a lease\nAccounting for Leases\nRecognizing\, Measuring and Disclosing lease agreements from both lessee and lessor perspectives\nSale and Leaseback Transactions\n\n\nAccounting for Financial Instruments (IFRS 9)\n\n\nClassification and measurement of financial assets and liabilities\nImpairment under expected credit loss model\nHedge accounting principles and applications\nDisclosure and risk reporting requirements\n\n\nIFRS 18 – Presentation and Disclosure in Financial Statements\n\n\nScope of IFRS 18\nKey components\, disclosures\, and compliance requirements.\nRevenue Recognition Principles\nMeasurement of Revenue\nDisclosure Requirements\n\nTarget Audience: \nThis workshop will be useful to all professional Accountants and those aspiring to join the profession. \nContinuous Professional Development Units (CPD UNITS):\nMembers of ICPAK and those from reciprocating professional bodies will be awarded 14 Structured CPD Units upon successfully completion of the seminar. \nFinancial Commitment:\nThe workshop charges are Kes. 10\,000. Charges will cater for the seminar  fees\, learning materials\, and e-certificates of attendance. \nOnline Booking:\nRegistration: Delegates are reminded to note that online booking for the seminar is mandatory on https://www.icpak.com/event-registration/Online Booking We call on workshop participants to note that booking is available only online at www.icpak.com and will close one day before the training session. Delegates are reminded to note that online booking for the training is mandatory. \nNational Industrial Training Authority (NITA) Reimbursement:\nThe Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke). \nFurther requests can be channeled to us via telephone calls on\, +254 719 074 100\,  or via email to Patrick Kipkurui    at patrick.kipkurui@icpak.com with a copy to memberservices@icpak.com \nWe encourage members to regularly visit our website https://www.icpak.com for updates.
URL:https://www.icpak.com/event/ifrs-and-accrual-accounting-workshop-south-rift-branch/
LOCATION:Enkipai Hill\, Narok\, Kenya
CATEGORIES:Branch Seminars
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