International Public Sector Accounting Standards (IPSASs) Workshop: 5th - 7th June 2013

International Public Sector Accounting Standards (IPSASs) Workshop: 5th - 7th June 2013

Dates:

Wed 05.06 - Fri 07.06.2013     

Times:

08:30

Place:

Sarova Panafric Hotel, Nairobi

Contact person:

Training and Development   

Booking & Reservation:

Bookings are ongoing. Click here to book online now!

Telephone:

+254 721469169/727531006/7338562

Category:

Standards & Auditing

Additional Information

The strides made by various government arms towards accrual based accounting are worth noting. Entities that elect to adopt International Public Sector Accounting Standards (IPSASs) accrual basis of accounting face a number of challenges. While the technical challenge of applying all relevant IPSASs should not be underestimated, making the right choices over accounting policies to select and ensuring systems and processes are adequate and managing the overall transition process need focus as well.

In general, entities that change accounting policies to comply with IPSASs do this retrospectivey; however, to ease this transitional process the IPSASs Board (IPSASB) allows the use of transitional provisions in certain Standards. Where transitional provisions exist, they may allow an entity additional time to meet the full requirements of a specific accrual based or provide relief from certain requirements when initially applying IPSASs.

By use of real-world examples and case studies, this workshop will provide a comprehensive look at the complex issues, whether transitioning from the Cash Basis IPSASs or from other local accounting frameworks. Coverage includes the transitional provisions in IPSASs and guidance on setting up the conversion project, with application demonstrated via practical case studies and examples.

Strategies and guidance for establishing IPSASs accounting policies will also form part of the workshop discussions.

Key areas to be covered include:

• Transition requirements of each IPSAS and what are the implications of the available choices
• Available policy options and their short-term and long-term consequences
• Costs and benefits of various courses of action be determined
• Systems require modification in order to implement accrual based IPSAS
• Common pitfalls that occur during transition to accrual based IPSAS and how can they be avoided

Delegates will benefit from specific reference to local case studies including Financial Management Regulations, Public Finance Management, Treasurer Manual, Budget Guidelines and Procedures amongst other case scenarios.

The workshop will be held on 5^th - 7^th June 2013 at the Sarova Panafric Hotel, Nairobi from 8.30 a.m. to 5.00 p.m. Charges are Kshs.16, 450 and Kshs.28, 950 for ICPAK members and non members respectively. 20 CPD Hours will be awarded.

How To Tell If It Is A Dead End Job

A dead-end job is more than just one that makes you weary when you leave at the end of the day; it's knowing that there's probably no raise, promotion, or room for advancement in sight if you stick around. The first clue that you may be in a dead end job probably comes from your own unhappiness but we all know your perception isn't the best indicator of whether or not the job sucks.

You may be in a dead-end job when you find; there is no chance of promotion in the organization due to its size. Many Biasharas, are not able to grow beyond a certain capacity or you may find that 
you are in a position where you are not allowed to do anything besides your work or the position you would like is taken up by someone that has been there so long they have grown roots!

Ultimately, if you are in a dead end job, the only ways out. Leave!  You can try to jump start things with your manager (see points near the end of the article) but if your manager is part of the problem this will not work. You have to choices; learn to be comfortable where you are, or leave.

What do you need to do if you are stuck in dead-end job?
Changing company culture may not be possible but you can try to change the company’s perception of you.  You have to alter your behaviour to one that is more compatible with the company’s leadership and be consistent with your new behaviours.  If you are being honest with yourself about your feelings and capabilities, the signs might point to you making this change to find a place outside this company. A career transition.

Should you quit a dead-end job? Why or Why not?
Sure, quit when you have another opportunity.  However, always remember it is important to have something lined up. Always keep in mind the long-term ramification. Quitting can lead to disaterous results.  

Are there activities I can do to ensure that I don’t get myself in a dead end situation?
Take the time to research a company well. This should give you some insight into the work culture. Also remember you can interview the company as they are interviewing you.
 
Here are some things you can do to keep you moving in your job;
•    Set up a regular time to meet with your manager to discuss your successes and challenges. Don’t wait for the annual review.
•    Be sure to take credit for the work you have done and credit those who have also helped you.
•    Ask your manager for specific feedback.
•    Ask to take on special projects or get involved on company task forces or initiatives.
•    If you are dissatisfied, ask your manager for their ideas and solutions, but be prepared with your own as well.
 
 All the best in your career. 

Finance Asst Jobs Kenya Institute of Supplies Management

Finance Assistant

Job purpose: 
To support the finance and accounting function, ensuring continuity and integrity of operations
The Kenya Institute of Supplies Management invites suitably qualified individuals to apply for the following positions

Core Functions
    Preparation of cheque and cash payment vouchers, taking them for authority to pay and issuing out 
cheques;
    Handling all daily payment transactions and keeping petty cash float;
    Maintenance of capital (asset) items inventory;
    Handling the payments of statutory and other payroll deductions and filing annual returns to the relevant government bodies;
    Liaising with relevant departments to raise invoices and manage the accounts receivables
    Assist in the handling all Insurance matters as relates to assets
    Support Finance Officer in management as directed

Qualifications, Experience and Competencies
    Minimum of a CPA – II;
    Bachelor of Commerce degree will be an added advantage;
    Minimum 1 year experience in similar position;
    Ability to coordinate and work well with others, sharing workloads, and work independently;
    Demonstrated ability to communicate effectively (verbal and written) with all levels of internal and external customers in a professional manner.

For all positions, applicants must possess the following:
    Ability to work with contemporary word, data and presentation software;
    Demonstrated planning and organizing skills;
    Analytical thinking skills and keen judgment;

Interested candidates who meet the above criteria may e-mail soft copy applications in PDF format, with cover letter and detailed curriculum vitae to admin@kism.or.ke or post hard copies so as to reach us on or before 3rd June 2013 addressed to,

The Chairman
Kenya Institute of Supplies Management
P.O Box 30400 – 00100,
Nairobi

Only short-listed candidates will be contacted for interviews. 

10 Secrets Of Financial Success

Warren Buffet is one of the movers and shakers in the financial field. You may not recognise the name at first but you will definitely recognise two brands which are Heinz and Budwieser beer which he bought in partnership with his professor, Lemann. 

To date the sale of these to brands were biggest in the food industry ever. 

So how did the professor of Warren Buffet make it?

1. Dream big
Warren Buffets’ Professor says that dreaming big requires the same effort as dreaming small. Even though you find yourself in a place that you did not think you would be in, you can still choose to
shoot for the stars.

2. Choose partners well
This is critical because you will learn how to choose the right people to work with, people with unethical business practises or who run their business according to their whims can leave you burned and in a bad situation financially.

3. Develop your own long term vision
Lemann shared that some of the business that they do at the moment are as a result of strategies they laid down over 20 years ago. Do not plan only for the short term but also plan for the future.

4. Always try to get better. You can always improve
This may sound a bit overwhelming. Maybe by it will help if you start focusing on the first three principles. When you start it will be difficult but get into the habit and you will see how much it helps.

5. Develop your own method to achieve the results you want
Look at the four or five essential points of any issue. I’ve always tried to nail questions down to what is essential. Most of our companies have a maximum of five goals and employees working for us also have personal objectives.

6. Simple is always better than complicated. Be careful with too much theory.
Einstein once said: “If you can’t explain it to a six year old, you don’t understand it yourself.”
Learn how to explain anything in a simple manner

7.  Ethical behavior is the best long-term strategy
I have learned that the ethics of the so-called markets can be different from what we learn at school. In day-to-day life you have stimulus to behave unethically, but in the long term it always pays off to be ethical.

8. Meritocracy 
Those who perform the best must be those who are best rewarded.

9. Ownership: 
It is fundamental to have partners. Always work with people who are also owners. Talent retention is one of the hottest topics among corporations of all sizes, from startup to multinationals. He gives his best employees shares in his organisation

10.  Take risks. 
A lot of people study too much, but to do the exceptional you need to take risks.

There you have it, from the man who was a financial juggernaut with a young family, then made a USD 50 million dollar deal. Know what your strengths and weaknesses are then go ahead and get your hand dirty.