Sunday, 24 September 2017

Accounting and Financial Management 19 - 30 September 2016

Training Course On Bhutan-Thailand Technical Cooperation Plan

Title: “Accounting and Financial Management”

19 - 30 September 2016

At National Institute of Development Administration (NIDA) Bangkok, Thailand

 

          In response to the request of Thailand International Development Cooperation Agency(TICA), Ministry of Foreign Affairs (Ministry of Foreign Affairs’ Note No. 1603.3/2300 dated 24 May 2016), Siripattana Training Center of National Institute of Development Administration accordingly is pleased to propose a ThailandBhutan Technical Cooperation Training Project on “Accounting and Financial Management” for Bhutan's Government officials. The course curriculum presented hereunder, is primarily designed to meet the training proposal submitted by the Ministry of Labour and Human Resources (MoLHR), Bhutan.

          1. Counterpart Organization Royal Civil Service Commission (RCSC) Ministry of Labour and Human Resources, The Kingdom of Bhutan

          2. Development CooperationAgency Thailand International Cooperation Agency (TICA) Ministry of Foreign Affairs, The Kingdom of Thailand

          3. Background and Rationale

          The International Accounting Standard Boards (IASB) has strong mission to improve the quality of global accounting standards in order to bring the transparency, accountability and efficiency to the financial markets around the world. The IASB has issued set of Accounting Standards, International Financial Reporting Standards (IFRS), and Interpretations (IFRICs) to report various business transactions around the world in one common language in a complete set of financial statement. 

          Bhutan has made commitment towards adopting International Financial Reporting Standards (IFRS). The Accounting and Auditing Standards of Bhutan (AASBB), established in 2010 has started a process of IFRS adoption which is expected to complete in 2021. Currently, the AASBB has issued Bhutanese Accounting Standards (BAS) which are in line with IFRS. In addition, the companies listed on the Royal Securities Exchange of Bhutan are

permitted to use IFRS to report their financial positions and operating performances. Understanding the financial reports becomes a crucial factor to promote the growth of businesses and economy. Regulators and/or government officers need to understand IFRS in order to plan and manage resources to build and stimulate the business infrastructure such as issuing the appropriate accounting standards at the right time etc. Understanding IFRS could

help the regulators and/or government officers to impose law or regulations for investor protections and promotion of good governance. Understanding financial reports could also help the financial statement users to allocate the resources properly and make better investment decisions.

Given the rationale mentioned above, Siripattana Training Center of National Institute of Development Administration (NIDA) in collaboration with Thailand International Cooperation Agency (TICA) of Ministry of Foreign Affairs, Kingdom of Thailand is pleased to have been assigned as the technical institute for capacity building of Bhutan government officials who will participate in the training course on “Accounting and Financial Management” under the Bhutan-Thailand Development Cooperation Plan, to be held during 19-30 September 2016 at National Institute of Development Administration (NIDA),Bangkok, Thailand. The participants will be able to gain knowledge and hands on experiences from leading scholars and professionals from renowned institutes and organizations in Thailand.