Why this course?

Description

This course offers an in-depth exploration of key Ind AS standards that directly impact the construction industry, focusing on practical applications for construction project management. Participants will learn to apply critical accounting standards such as Ind AS 115, Ind AS 16, and Ind AS 23, understanding how each impacts financial reporting, asset management, revenue recognition, and risk assessment in construction projects.

Designed for finance professionals, project managers, and accountants within the construction sector, the course provides a comprehensive view of how these standards shape effective budgeting, financing, asset management, and revenue recognition strategies. With real-world construction examples and hands-on exercises, learners will gain practical skills that ensure compliance with regulatory frameworks and build investor confidence, especially for large-scale or public-private partnership (PPP) projects.

Key Topics Covered:

• Revenue Recognition (Ind AS 115): Master the five-step revenue recognition model for complex construction contracts, ensuring accurate project revenue flow.
• Asset Management (Ind AS 16 & Ind AS 36): Learn the proper methods for recognizing, depreciating, and assessing impairment for construction-related assets, critical for capital-intensive projects.
• Financing and Borrowing Costs (Ind AS 23 & Ind AS 109): Understand the capitalization of borrowing costs and management of financial instruments like bonds and loans to improve project financing.
• Inventory Management (Ind AS 2): Grasp inventory accounting for raw materials and work-in-progress, crucial for resource tracking and project budgeting.
• Risk and Liability Assessment (Ind AS 37 & Ind AS 40): Delve into provisions, contingent liabilities, and investment property valuation to accurately represent financial health.
• Segment Reporting (Ind AS 108): Learn how to structure segment reports by project type or geography, providing transparency for stakeholders on project profitability and risk.

Duration:
6 Weeks (4 hours per week)

Examples Included:

1. Revenue Recognition Workshop: Applying Ind AS 115 to a long-term construction contract, breaking down revenue based on project milestones.
2. Asset Management Case Study: Depreciation and revaluation of heavy equipment under Ind AS 16, including asset impairment assessment.
3. Financing Strategy Exercise: Using Ind AS 23 and Ind AS 109 to calculate capitalized borrowing costs and manage construction bonds effectively.
4. Inventory Tracking Activity: Practical example of applying Ind AS 2 for managing raw materials and work-in-progress inventories in a high-budget infrastructure project.
5. Segment Reporting Example: Structuring a segment report under Ind AS 108 for a multi-region residential project, showing profitability by location.

This course is ideal for construction industry professionals seeking to deepen their knowledge of Ind AS standards, enhance compliance, and apply these insights to streamline financial processes and strengthen project oversight.