General Objectives:
• Provide the participants with a background on contracting sector and its characteristics
• Introduce the participants to the accounting principles and practices used in contracting sector in accordance with the International Accounting Standards
• Introduce the participants to the financial statements and required disclosures in contracting sector in accordance with the International Accounting Standards
Target Group:
Financial managers, accountants, and auditors in the oil companies sector
Contents:
• Background on contracting sector
- Nature and importance of this sector
- Work characteristics in this sector
• Accounting of construction contracts
- Accounting policy of constraction contracts
* Accomplishment ratio method
* Completed-contract method
- Determine profit center
- Determine income- revenue
- Determine income- cost elements
• Accounting of contract costs
• Pre-contract costs
• Cost amendments
• Estimated costs of accomplishment
- Calculation of realized income
- Re-valuation
- Provision of expected losses on contracts
- Select a measure of accomplishment
- Cost of equipment and small tools
- Impairment of assets
• Accounting of construction contracts in joint ventures
- Accounting of transactions with the joint venture
- Contributions to the capital
- Selling to the joint venture
• Presentation and disclosure of financial statements
Course Duration:
20 training hours / 4 days
For more details don’t hesitate to contact the training officer:
on telephone number 17383001
or e-mail at: gizrmrmt.yzsizrm@gztrgizrmrmt.xln