The Accounting for Maritime Carriers training course provides comprehensive knowledge and practical guidance on accounting principles and practices specific to the maritime industry. Over five days, participants will delve into various accounting topics, including revenue recognition, property plant and equipment, investment property, fair value accounting, lease accounting, consolidation of financial statements, joint arrangements, and critical reporting issues.
Through interactive sessions, participants will learn to identify contracts, shipping obligations and determine transaction prices in accordance with IFRS 15.
They will also explore accounting for property plant and equipment, government grants, and investment property in compliance with IAS standards.
The course will cover fair value accounting, lease accounting under IFRS 16, and the treatment of VAT and sales tax in the shipping industry.
Upon completion of this course, participants will be able to:
- Understand the accounting principles and practices specific to maritime carriers.
- Identify and apply International Financial Reporting Standards (IFRS) applicable to the maritime industry.
- Gain knowledge and skills related to accounting for contracts, property plant and equipment, government grants, investment property, fair value accounting, lease accounting, consolidation of financial statements, and critical reporting issues.
- Learn how to identify shipping obligations, determine transaction prices, allocate revenue to performance obligations, and recognize shipping revenue.
- Explore cost models, revaluation of shipping assets, depreciation, fair value measurement, lease accounting, joint arrangements, impairment assessments, VAT treatment, and reporting requirements in the context of the maritime industry.
Accounting for Maritime Carriers course is designed for:
- Accounting and finance professionals in the maritime industry
- Operations managers in maritime carriers
- Financial analysts and auditors specializing in the maritime sector
- Professionals involved in financial reporting and consolidation
- Individuals seeking a comprehensive understanding of accounting practices in maritime carriers