ASRA / IFRS Special project for “Zangezur Copper Molybdenum Combine” CJSC
Project title: |
"ASRA/IFRS Special project for “Zangezur Copper Molybdenum
Combine” CJSC |
Funding Organization: |
“Zangezur Copper Molybdenum Combine” CJSC |
Target Group: |
Specialists from the Accounting, Financial, Economic Devisions of
the “Zangezur Copper Molybdenum Combine” CJSC |
Project Duration: |
10 - 17 November, 2008 |
Introduction to the project
The objective of this project was to conduct classroom training, on-job
training and a limited range of consultation on Accounting Standards,
both Armenian (ASRA) and International (IFRS), for the Accounting, Financial
and Economic divisions of “Zangezur Copper Molybdenum Combine” (ZCMC).
The
course syllabus covers all Accounting Standards of the Republic of Armenia
in comparison with current differences in International Financial Reporting
Standards. The whole course was covered within 40 hours, and lasted from
10th to 17th of November, 2008 in city Kajaran. The training course was
evaluated by participants through feedback. Feedback results show that
major part of course participants gained interesting (100%) and useful
(76.4%) knowledge.
The
course syllabus was the following:
Introduction and Financial Statements.
- Accounting law of the RA ASRA/IAS1, ASRA/IAS7
- Inventory - ASRA/IAS2
- Property, Plant and equipment- ASRA/IAS16
- Other non-current assets - ASRA/IAS11, ASRA/IAS23, ASRA/IAS38, ASRA/IAS40
- Adjustments - ASRA/IAS8, ASRA/IAS10
- Discontinuing Operations - ASRA35/IFRS5
- Exploration for and evaluation of mineral resources - IFRS6
- Lease - ASRA/IAS17
- Business Combinations - ASRA22/IFRS3, ASRA/IAS24, ASRA/IAS27, ASRA/IAS28,
ASRA/IAS31
- Revenue - ASRA/IAS18
- Government Grants - ASRA/IAS20
- Foreign currencand hyperinflation- ASRA/IAS21, ASRA/IAS29
- Segments - ASRA14/IFRS8
- Interim financial reports - ASRA34/IAS34
- Earnings per share - ASRA/IAS33
- Financial instruments - ASRA/IAS32, ASRA/IAS39, IFRS7, ASRA/IAS32
- Impairment - ASRA/IAS36
- Provisions - ASRA/IAS37
- Employee benefits - ASRA/IAS19
- Income tax - ASRA/IAS12
Based
on the timetable agreed with course organizer, some less relevant topics
of accounting area were only briefly overviewed. The remaining topics
were covered in details with practical examples and on the job consultations.
An overall result of this course satisfies organizer’s expectations and
18 participants among 21 were granted Certificates from IATC Educational
Fund.
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