Accounting for Maritime Carriers training course in Hamburg

Available Dates

Dec-11-2023

Hamburg
Feb-05-2024

Hamburg
Apr-01-2024

Hamburg
June-03-2024

Hamburg
Aug-05-2024

Hamburg
Oct-07-2024

Hamburg
Dec-02-2024

Hamburg

Dates in Other Venues

Dec-11-2023

Athens
Dec-18-2023

London
Dec-25-2023

Dubai
Feb-05-2024

Athens
Feb-05-2024

Dubai
Feb-19-2024

London
Feb-26-2024

Rotterdam
Feb-26-2024

Istanbul
Apr-01-2024

Athens
Apr-01-2024

Dubai
Apr-15-2024

London
Apr-22-2024

Rotterdam
Apr-22-2024

Istanbul
June-03-2024

Athens
June-03-2024

Dubai
June-17-2024

London
June-24-2024

Rotterdam
June-24-2024

Istanbul
Aug-05-2024

Athens
Aug-05-2024

Dubai
Aug-19-2024

London
Aug-26-2024

Istanbul
Aug-26-2024

Rotterdam
Oct-07-2024

Athens
Oct-07-2024

Dubai
Oct-21-2024

Rotterdam
Oct-21-2024

London
Oct-21-2024

Istanbul
Dec-02-2024

Dubai
Dec-02-2024

Athens
Dec-16-2024

London
Dec-23-2024

Rotterdam
Dec-23-2024

Istanbul

Course Details

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

Hamburg

Course Outline

5 days course

Day 1

Day 2

Day 3

Day 4

Day 5

Accounting for contracts in accordance with IFRS 15

Identification of contract with the appropriate customers/clients
Identification of shipping obligations with the contract
Determination of the shipping transaction price
Allocation of the transaction price to the performance obligations
Recognition of shipping revenue when each performance obligation is completed

Accounting for Property Plant and Equipment (IAS 16) and Government Grants (IAS 20) and Investment Property (IAS 40)

Cost or revaluation model
Component approach
Major maintenance and overhaul costs (including drydocking and special survey costs)
Impairment of long-lived and indefinite-lived assets
Measurement of shipping assets at recognition, after recognition and derecognition
Revaluation of shipping assets
Depreciation of shipping assets
IFRS 13 - Fair Value Measurement
IFRS 9 - Financial Instruments (Hedge Accounting)
Treatment of borrowing costs
Vessel government grant accounting
Treatment of dry docking

Fair Value Accounting in Shipping
Lease accounting in shipping
Sale-leaseback transactions
Valuation of Financial Instruments
Expected credit loss model
Hedge accounting in shipping (fair value hedge and cash flow hedge)
Accounting for debt modification
Accounting for complex financial instruments.

Understanding and applying IFRS 10 in the consolidation of financial statements

Preparation of consolidated Income Statement
Preparation of consolidated SOFP
Preparation of consolidated Statement of Cash Flows
Treatment of Non-controlling interests in shipping business
Treatment of Goodwill in shipping business
Treatment of intra-group items and unrealised profits

Joint Arrangements in accordance with IFRS 11

Treatment of joint arrangements, joint control, joint operations and joint ventures
Preparation of Joint Venture Accounts in accordance with IAS 28
Joint Venture Accounts for interests in Accordance with IFRS 9
Disclosure on interests in other entities in accordance with IFRS 12.

Key reporting accounting and reporting issues

Going concern assessment
Fair valuation assessment of vessels
Drydocking, construction, retrofit delays.
Impairment assessment of vessels
Impairment assessment of goodwill
Accounting for leasing in shipping in accordance with IFRS 16

Treatment of VAT and sales tax in shipping

Input VAT
Output VAT
Quarterly reporting, Annual Accounting and Cash Accounting

Accounting for Maritime Carriers

Course Info

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Course Details

Course Outline

5 days course

Course Video

Accounting for Maritime Carriers

Course Info

Available Dates

Dates in Other Venues

Course Details

Course Outline

5 days course

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